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An article is "lost" when the owner has lost the possession or custody of it, involuntarily and by any means, but more particularly by accident or his own negligence or forgetfulness, and when he is ignorant of its whereabouts or cannot recover it by an ordinarily diligent search. Lost or not lost. A phrase sometimes inserted in policies of marine insurance to signify that the … [Read more...] about LOST

These words are sometimes inserted in policies of marine insurance. They are used when the underwriter undertakes that if the ship or goods should be lost at the time of the insurance, still the underwriter is liable, provided there is no fraud. … [Read more...] about LOST OR NOT LOST

When a paper containing an agreement between parties, a will, and the like, has been so mislaid, that after a diligent search it cannot be found, it is said to be lost. 2. When such a document has been lost, and it is required to prove its contents, the party must prove that he has made diligent search, and, in good faith, exhausted all sources of information accessible to him. … [Read more...] about LOST PAPERS

Breach of contract damages that make the non-breaching party whole by compensating the party for profits that would have been made but for the breach. … [Read more...] about LOST PROFITS

Lat. A colloquy; talk. In old English law, this term denoted the oral: altercations of the parties to a suit, which led to the issue, now called the "pleadings." It also designated an "imparlance," (q. v.,) both names evidently referring to the talking together of the parties. Loguela sine die, a postponement to an indefinite time. Loquendum ut vulgus; sentiendum ut docti. We … [Read more...] about LOQUELA