Search Results for: PRO RATA

pro rata itineris

pro rata itineris (proh ray-t[schwa] I-tin-[schwa]-ris). [Latin] Scots law. For the proportion of the journey. “Where a ship, chartered to convey a cargo to a certain port … is prevented from completing the voyage … the master of the ship may transship the goods, and thus conveying them to their destination, earn his full freight.

pro rata itineris Read More »

pro rata clause

pro rata clause. An insurance-policy provision — usu. contained in the “other insurance” section of the policy — that limits the insurer’s liability to payment of the portion of the loss that the face amount of the policy bears to the total insurance available on the risk. — Also termed pro rata distribution clause. Cf.

pro rata clause Read More »

pro rata

pro rata (proh ray-t[schwa] orrah-t[schwa] orra-t[schwa]), adv. Proportionately; according to an exact rate, measure, or interest (the liability will be assessed pro rata between the defendants). See RATABLE. — pro rata, adj.

pro rata Read More »

Scroll to Top