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(a) In insurance. The injury or damage sustained by the insured in consequence of the happening of one or more of the accidents or misfortunes against which the insurer, in consideration of the premium, has undertaken to indemnify the insured. 1 Bouv. Inst no. 1215. Actual loss. One resulting from the real and substantial destruction of the property insured. Constructive loss. … [Read more...] about LOSS

In English law. Certain duties which must be paid by those who claim to exercise the elective franchise within certain cities and boroughs, before they are entitled to vote. It is said that the practice became uniform to refer to the poor rate as a register of "scot and lot" voters; so that the term, when employed to define a right of election, meant only the payment by a … [Read more...] about LOT AND SCOT

See carryover. … [Read more...] about LOSS CARRYOVER

A small piece of land in a town or city usually employed for building, a yard, a garden or such other urban use. Lots are in-lots, or those within the boundary of the city or town, and out-lots, those which are out of such boundary, and which are used by some of the inhabitants of such town or city. … [Read more...] about LOT OF GROUND

Also called collision damage waivers which is rental insurance that makes the rental company responsible for damages or theft of the rented vehicle. Usually it is not necessary as the renter may be covered by other sources, for example, by use of their credit card which provides the same insurance. … [Read more...] about LOSS DAMAGE WAIVER (LDW)