APPENDIX. within the Time aforesaid, which the above Governor and Com- the said is and shall be rated and per Cent. valued at the Sum assured: The said Governor and Company therefore, for and in Consideration of to them paid, do assure, assume, and promise, that the said shall, by the Permission of Calendar Almighty God, live, and continue in this natural Life, for and during the said Term and Space of Months, to commence as aforesaid; or in Default thereof, that is to say, in case the said shall, in or during the said Time, and before the full End and Administrators, or Assigns, for the true Performance of the Pre- upon Condition that the same shall be utterly void and of no Effect, shall exceed the Age in case the said or shall voluntarily go to Sea or into of the Wars, by Sea or Land, without Licence in Writing first had so doing, any Thing in or obtained for these Presents to the contrary hereof in anywise notwithstanding. In witness whereof the said Governor and Company have caused their common Seal to be hereunto affixed, and the Sum or Sums in the by them assured to be here underwritten, at their office in London, Day of this Lord Year of the Reign of our Sovereign by the Grace of God, of the United Kingdom of Great Britain and Ireland, King, Defender of the Faith, &c. and in the Year of our Lord One thousand eight hunThe said Governor and Company are dred and content with this Assurance for 675 APPENDIX, No. IV. Form of a Policy of Insurance against Fire. BY the Corporation of the Royal Exchange Assurance of Houses and Goods from Fire This present Instrument or Policy of Assurance witnesseth, That whereas agreed to pay into the Treasury of the Corporation of the Royal Exchange Assurance, at their Office on the Royal Exchange, London, for the Assurance of from Loss or Damage by Fire. Now know all Men by these Presents, That the capital Stock, Estate, and Securities of the said Corporation shall be subject and liable to pay, make good, and satisfy unto the said Assured Heirs, Executors, aforesaid or Administrators, any Loss or Damage which shall or may happen by Fire to the said Goods (except such Goods as Hemp, Flax, Tallow, Pitch, Tar, Turpentine, Glass, China, and Earthen Wares, Writings, Books of Accounts, Notes, Bills, Bonds, Tallies, ready Money, Jewels, Plate, Pictures, Gunpowder, Hay, Straw, and Corn unthreshed,) within the Space of Twelve Calendar Months from the Day of the Date of this Instrument or Policy of Assurance, not exceeding the Sum of and shall so continue, remain, and be subject and liable, as aforesaid, from Year to Year, to be computed from the Day of in every Year, for so long Time as the said Assured shall well and truly pay, or cause to be paid, the Sum of into the Treasury of the said CorpoDay of ration, on or before the which shall be in each succeeding Year, and the said Corporation shall agree thereto by accepting and receiving the same; which said Loss or Damage shall be paid in Money immediately after the same shall be settled and adjusted, or otherwise, if the said Loss or Damage shall not be adjusted, settled, and paid within sixty Days after Notice thereof shall be given to the said Corporation by the said Assured, that then the said Corporation, their Officers, Workmen, or Assigns, shall, at the Charge of the said Corporation, at the End and Expiration of the said sixty Days, provide and supply the said Assured with the like Quantity of Goods of the same Sort and Kind, and of equal value and Goodness with those burnt or damnified by Fire. Provided always nevertheless, and it is hereby declared to be the true Intent and Meaning of this Deed or Policy, That the said Stock, Estate, and Securities of the said Corporation shall not be subject or liable to pay or make good to the Assured any Loss or Damage by Fire, which shall happen by any Invasion, Foreign Enemy, or any military or usurped Power whatsoever. Provided also, That this Deed or Policy shall not take place or be binding to the said Corporation until the Premium for one Year is paid, or in case the said Assured shall have already made, or shall hereafter make any other Assurance upon the Goods aforesaid, unless the same shall be allowed of and specified upon the Back of this Policy: or if the said at the Time when any such Fire shall happen, shall be in the Possession of, or let to any Person who shall use or exercise therein the Trade of a Sugar-baker, Apothecary, Chymist, Colour-man, Distiller, Bread or Biscuitbaker, Ship or Tallow-chandler, Stable-keeper, Innholder, or Maltster, or shall be made use of for the stowing or keeping of Hemp, Flax, Tallow, Pitch, Tar, or Turpentine; but that in all or any of the said Cases these Presents, and every Clause, Article, and Thing herein contained, shall cease, determine, and be utterly void and of none effect, or otherwise shall remain in full Force and Virtue. In Witness whereof the said Corporation have caused their common Seal to be hereunto affixed, the Day of the Reign of our Sovereign Lord in the Year of by the Grace of God, of the United Kingdom of Great Britain and Ireland, King, Defender of the Faith, &c. and in the Year of our Lord One thousand eight hundred and N. B. This Policy to be of no Force, if assigned, unless such Assignment be allowed by an Entry thereof in the Books of the Company. TABLE OF THE PRINCIPAL MATTERS. A. Abandonment. EFORE a person insured can de voyage lost, and the damage does not amount to a moiety of the value, he shall not be allowed to abandon. Page 231. 257 Band from the underwriter a re- Abandonment must be made, thongh compense for a total loss, he must abandon to him whatever claims he may have to the property insured. Page 136. 228 The time, within which such an abandonment must be made, was not fixed in England till lately by any positive regulation or decision. 136.280 Abandonment is as ancient as the contract of insurance itself. 229 When an abandonment is made, it must be total, and not partial. ibid. The insured may in all cases choose not to abandon; but he cannot at his pleasure abandon, and thereby turn a partial into a total loss. 229 The insured may abandon to the underwriter, and call upon him for a total loss, if the damage exceed half the value; if the voyage be absolutely lost or not worth pursuing; if farther expence be necessary; or if the insurer will not engage at all events to bear that expence, though it should exceed the value, or fail of success. 231.236. 245 But he cannot abandon, unless at some period or other of the voyage there has been a total loss; and if neither the thing insured, nor the the property be converted into money. 240 The right to abandon must depend on the nature of the case at the time of the action brought, or at the time of the other to abandon; and therefore if, at the time advice is received of the loss, it appears that the peril is over and the thing in safety, the insured has no right to abandon. 231.245 Thus in a case where there was a capture and recapture, and it was stated that, at the time of the offer to abandon, the ship was safe in port, and had sustained no damage, the court held that the insured had no right to abandon. 243 But if the underwriter pay for a total If loss, and it afterwards turn out to be but partial, the insured shall not be obliged to refund; but the insurer shall stand in his place for the benefit of salvage. 250 the ship or goods are restored in safety between the offer to abandon and action brought, the assured cannot proceed as for a total loss. 252 |