drilling contract. Oil & gas. A well-drilling agreement between a drilling contractor, who owns drilling rigs and associated equipment, and the owner or lessor of the mineral rights. • The contract spells out the rights and duties of the parties. In general, the more control the interest-owner retains over the contractor, the more liability the […]
penal (pee-n[schwa]l), adj. Of, relating to, or being a penalty or punishment, esp. for a crime. “The general rule is that penal statutes are to be construed strictly. By the word ‘penal’ in this connection is meant not only such statutes as in terms impose a fine, or corporal punishment, or forfeiture as a consequence
sue-and-labor clause. Marine insurance. A provision establishing that the marine insurer will cover the costs incurred by the insured in protecting the covered property from damage or minimizing actual damages to the property. • The clause generally requires the insurer to “sue and labor” to protect the insured party’s interests. — Also termed rescue clause.
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reasonable medical probability. In proving the cause of an injury, a standard requiring a showing that the injury was more likely than not caused by a particular stimulus, based on the general consensus of recognized medical thought. — Also termed reasonable medical certainty. [Cases: Damages 185(1); Evidence 547. 5. C.J.S. Damages §§ 308–310; Evidence §§
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A provision in some commercial general liability policies, excluding coverage for damages arising from the withdrawal, inspection, repair, replacement, or loss of use of the insured’s product or work, to the extent that the product or work is withdrawn or recalled from the market because of a known or suspected defect or deficiency. — Also
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A provision in some commercial general liability policies, excluding coverage for bodily injury or property damages arising from the discharge, dispersal, release, or escape of chemicals, waste, acid, and other pollutants. • Pollution-exclusion clauses may take one of two forms: (1) sudden and accidental, and (2) absolute. The sudden-and-accidental clause, usu. limited to policies issued
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