|
Act Of God (1980 Television Film)
In legal usage in the English-speaking world, an act of God, act of nature, or damnum fatale ("loss arising from inevitable accident") is an event caused by no direct human action (e.g. severe or extreme weather and other natural disasters) for which individual persons are not responsible and cannot be held legally liable for loss of life, injury, or property damage. An act of God may amount to an exception to liability in contracts (as under the Hague–Visby Rules), or it may be an "insured peril" in an insurance policy. In Scots law, the equivalent term is ''damnum fatale'', while most Common law proper legal systems use the term ''act of God''. It is legally distinct from—though often related to—a common clause found in contract law known as ''force majeure''. In light of the scientific consensus on climate change, its modern applicability has been questioned by legal scholars. Contract law In the law of contracts, an act of God may be interpreted as an implied de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tornado Damage, Illinois 2
A tornado is a violently rotating column of air that is in contact with both the surface of the Earth and a cumulonimbus cloud or, in rare cases, the base of a cumulus cloud. It is often referred to as a twister, whirlwind or cyclone, although the word cyclone is used in meteorology to name a weather system with a low-pressure area in the center around which, from an observer looking down toward the surface of the Earth, winds blow counterclockwise in the Northern Hemisphere and clockwise in the Southern. Tornadoes come in many shapes and sizes, and they are often visible in the form of a condensation funnel originating from the base of a cumulonimbus cloud, with a cloud of rotating debris and dust beneath it. Most tornadoes have wind speeds less than , are about across, and travel several kilometers (a few miles) before dissipating. The most extreme tornadoes can attain wind speeds of more than , are more than in diameter, and stay on the ground for more than 100 km ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the mind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Year 2000 Problem
The year 2000 problem, also known as the Y2K problem, Y2K scare, millennium bug, Y2K bug, Y2K glitch, Y2K error, or simply Y2K refers to potential computer errors related to the Time formatting and storage bugs, formatting and storage of calendar data for dates in and after the year 2000. Many Computer program, programs represented four-digit years with only the final two digits, making the year 2000 indistinguishable from 1900. Computer systems' inability to distinguish dates correctly had the potential to bring down worldwide infrastructures for industries ranging from banking to air travel. In the years leading up to the turn of the century (millennium), the public gradually became aware of the "Y2K scare", and individual companies predicted the global damage caused by the bug would require anything between $400 million and $600 billion to rectify. A lack of clarity regarding the potential dangers of the bug led some to stock up on food, water, and firearms, purchase backup ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crop Insurance
Crop insurance is purchased by agricultural producers, and subsidized by the federal government, to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities. The two general categories of crop insurance are called crop-yield insurance and crop-revenue insurance. On average, the federal government subsidizes 62 percent of the premium. In 2019, crop insurance policies covered almost 380 million acres. Major crops are insurable in most counties where they are grown, and approximately 90% of U.S. crop acreage is insured under the federal crop insurance program. Four crops—corn, cotton, soybeans, and wheat— typically account for more than 70% of total enrolled acres. For these major crops, a large share of plantings is covered by crop insurance. Specialty crops A farmer or grower may desire to grow a crop associated with a particular defined attribute ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flood Insurance
Flood insurance is the specific insurance coverage issued against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands, floodplains and other areas that are susceptible to flooding. In the United States Nationwide, only 20 percent of American homes at risk for floods are covered by flood insurance. Most private insurers do not insure against the peril of flood due to the prevalence of adverse selection, which is the purchase of insurance by persons most affected by the specific peril of flood. In traditional insurance, insurers use the economic law of large numbers to charge a relatively small fee to large numbers of people in order to pay the claims of the small numbers of claimants who have suffered a loss. Some insurers provide privately written primary flood insurance for high-value residential properties, and for low-value and high value buildings, including through The Natural ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indemnity
In contract law, an indemnity is a contractual obligation of one party (the ''indemnitor'') to compensate the loss incurred by another party (the ''indemnitee'') due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a "guarantee" is an obligation of one party (the ''guarantor'') to another party to perform the promise of a relevant other party if that other party defaults. Indemnities form the basis of many insurance contracts; for example, a car owner may purchase different kinds of insurance as an indemnity for various kinds of loss arising from operation of the car, such as damage to the car itself, or medical expenses following an accident. In an agency context, a principal may be obligated to indemnify their agent for liabilities incurred while carrying out responsibilities under the relationship. While the events giving ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frustration Of Purpose
Frustration of purpose, in law, is a defense to enforcement of a contract. Frustration of purpose occurs when an unforeseen event undermines a party's principal purpose for entering into a contract such that the performance of the contract is radically different from performance of the contract that was originally contemplated by both parties, and both parties knew of the principal purpose at the time the contract was made..austlii Despite frequently arising as a result of government action, any third party or even nature can frustrate a contracting party's primary purpose for entering into the contract. The concept is also called commercial frustration. For example, if Joe gets a mortgage for a new home, suppose after three years, the home is destroyed, through no fault of Joe's. Without a hell or high water clause, Joe might be exempt from the remainder of the mortgage, as the principal purpose of the contract, to have a home to live in, has been compromised. However, he might s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taylor V Caldwell
''Taylor v Caldwell'' is a landmark English contract law case, with an opinion delivered by Mr Justice Blackburn which established the doctrine of common law impossibility. Facts Caldwell & Bishop owned Surrey Gardens & Music Hall, and agreed to rent it out to Taylor & Lewis for £100 a day. Taylor had planned to use the music hall for four concerts and day and evening fetes on Monday 17 June, Monday 15 July, Monday 5 August, and Monday 19 August 1861. They were going to provide a variety of extravagant entertainments including a singing performance by Sims Reeves, a thirty-five to forty-piece military and quadrille band, al fresco entertainments, minstrels, fireworks and full illuminations, a ballet or divertissement, a wizard and Grecian statues, tight rope performances, rifle galleries, air gun shooting, Chinese and Parisian games, boats on the lake, and aquatic sports. According to the contract the parties had signed, the defendants were to provide most of the British perf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debtor's Prison
A debtors' prison is a prison for people who are unable to pay debt. Until the mid-19th century, debtors' prisons (usually similar in form to locked workhouses) were a common way to deal with unpaid debt in Western Europe.Cory, Lucinda"A Historical Perspective on Bankruptcy" , ''On the Docket'', Volume 2, Issue 2, U.S. Bankruptcy Court, District of Rhode Island, April/May/June 2000, retrieved December 20, 2007. Destitute people who were unable to pay a court-ordered judgment would be incarcerated in these prisons until they had worked off their debt via labour or secured outside funds to pay the balance. The product of their labour went towards both the costs of their incarceration and their accrued debt. Increasing access and lenience throughout the history of bankruptcy law have made prison terms for unaggravated indigence obsolete over most of the world. Since the late 20th century, the term ''debtors' prison'' has also sometimes been applied by critics to criminal justice sys ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Specific Performance
Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract. It is typically available in the sale of land law, but otherwise is not generally available if damages are an appropriate alternative. Specific performance is almost never available for contracts of personal service, although performance may also be ensured through the threat of proceedings for contempt of court. Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property. While specific performance can be in the form of any type of forced action, it is usually to complete a previously established transaction, thus being the most effective remedy in protecting the expectation interest of the innocent party to a contract. It is usually the opposite of a prohibitory injunction, but there are mandatory injunctions that have a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sacrosanctity
Sacrosanctity was the declaration of physical inviolability of a temple, a sacred object, or a person through the ''lex sacrata'' (sacred law), which had religious connotations. Festus explained that: “Sacred laws are laws which have the sanction that anyone who broke them becomes accursed to one of the gods, together with his family and property”. In some cases the law may have been applied to protect temples from being defiled. It could also be applied to protect a person who was declared sacrosanct (inviolable). Those who harmed a sacrosanct person became ''sacer'' (accursed) through the declaration ''sacer esto!'' ("Let him be accursed"). The offender was considered as having harmed the gods or a god, as well as the sacrosanct person and therefore accursed to the gods or a god. This meant that the offender became forfeit to the god(s) and on his death he was surrendered to the god(s) in question. The implication was that anyone who killed him was considered as performing a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Common Law
English law is the common law legal system of England and Wales, comprising mainly criminal law and civil law, each branch having its own courts and procedures. Principal elements of English law Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Acts of Parliament, regulations and by-laws. In the absence of any statutory law, the common law with its principle of '' stare decisis'' forms the residual source of law, based on judicial decisions, custom, and usage. Common law is made by sitting judges who apply both statutory law and established principles which are derived from the reasoning from earlier decisions. Equity is the other historic source of judge-made law. Common law can be amended or repealed by Parliament. Not being a civil law system, it has no comprehensive codification. However, most of its criminal law has been codified from its common law o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Flood Insurance")
