The Law Dictionary

Law Dictionary

Law Professor

WAGER POLICY

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contracts. One made when the insured has no insurable interest. 2. It has nothing in common with insurance but the name and form. It is usually in such terms as to preclude the necessity of inquiring into the interest of the insured; as, interest or no interest, or, without further proof of interest than the policy. 3. Such contracts being against the policy of the law are … [Read more...] about WAGER POLICY

WAGERS

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A wager is a bet a contract by which two parties or more agree that a certain sum of money, or other thing, shall be paid or delivered to one of them, on the happening or not happening of an uncertain event. 2. The law does not prohibit all wagers. 3. To restrain wagers within the bounds of justice the following conditions must be observed: 1. Each of the parties must have the … [Read more...] about WAGERS

WAIFS

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Stolen goods waived or scattered by a thief in his flight in order to effect his escape. 2. Such goods by the English common law belong to the king. This prerogative has never been adopted here against the true owner, and never put in practice against the finder, though against him there would be better reason for adopting it. … [Read more...] about WAIFS