Insurance that protects a self-insured employer from catastrophic losses or unusually large health costs of covered employees. • Stop-loss insurance essentially provides excess coverage for a self-insured employer. The employer and the insurance carrier agree to the amount the employer will cover, and the stop-loss insurance will cover claims exceeding that amount. [Cases: Insurance 2523, […]
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mirror-image rule. Contracts. The doctrine that the acceptance of a contractual offer must be positive, unconditional, unequivocal, and unambiguous, and must not change, add to, or qualify the terms of the offer; the common-law principle that for a contract to be formed, the terms of an acceptance must correspond exactly with those of the offer.
The man presumed to be the father of a child for any of several reasons: (1) because he was married to the child’s natural mother when the child was conceived or born (even though the marriage may have been invalid), (2) because the man married the mother after the child’s birth and agreed either to
An agreement to exchange interest receipts or interest-payment obligations, usu. to adjust one’s risk exposure, to speculate on interest-rate changes, or to convert an instrument or obligation from a fixed to a floating rate — or from a floating to a fixed rate. • The parties to such an agreement are termed “counterparties.”
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A restraint of trade imposed by agreement between competitors at the same level of distribution. • The restraint is horizontal not because it has horizontal effects, but because it is the product of a horizontal agreement. — Also termed horizontal agreement.
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non constat (non kon-stat). [Latin “it is not settled”] It is not certain or agreed. • The phrase is generally used to state that some conclusion does not necessarily follow although it might appear on its face to follow. Cf. NON SEQUITUR . “Non Constat …. Words frequently used, particularly in argument, to express dissatisfaction
constitutum (kon-sti-t[y]oo-t[schwa]m), n. [Latin “agreed arrangement”] Roman law. 1. An agreement to pay an existing debt, either one’s own or another’s, on a fixed day. • A constitutum was not a novation; the creditor could still sue the original debtor. It differed from a stipulation because it had to be for an existing debt. If
deuterogamy (d[y]oo-t[schwa]r-og-[schwa]-mee), n. [fr. Greek deuterogamia “second marriage”] A second marriage after the death of or divorce from the first spouse, or after an annulment of a first marriage. — Also termed digama; digamy.
originality. Copyright. 1. The quality or state of being the product of independent creation and having a minimum degree of creativity. • Originality is a requirement for copyright protection. But this is a lesser standard than that of novelty in patent law: to be original, a work does not have to be novel or unique.
A legal rule that is not subject to contrary to contrary agreement. • For example, the UCC obligation of good faith and fair dealing cannot be disclaimed.