real suretyship
A suretyship in which specified property can be taken, but the surety is not answerable in damages. [Cases: Principal and Surety 65. C.J.S. Principal and Surety § 70.]
Search Results for: DAMAGE
economic loss rule
Torts. The principle that a plaintiff cannot sue in tort to recover for purely monetary loss — as opposed to physical injury or property damage — caused by the defendant. • Many states recognize an exception to this rule when the defendant commits fraud or negligent misrepresentation, or when a special relationship exists between the
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tort reform
tort reform. A movement to reduce the amount of tort litigation, usu. involving legislation that restricts tort remedies or that caps damages awards (esp. for punitive damages). • Advocates of tort reform argue that it lowers insurance and healthcare costs and prevents windfalls, while opponents contend that it denies plaintiffs the recovery they deserve for
doctrine of identification
doctrine of identification. Hist. English law. The rule that if a person traveling in a conveyance is injured in an accident that occurs because of someone else’s negligence, and the driver of the conveyance is contributorily negligent, the passenger cannot claim damages against the tortfeasor since the passenger is “identified” with the contributorily negligent driver.
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sue and labor clause
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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franchise clause
franchise clause. Insurance. A provision in a casualty insurance policy stating that the insurer will pay a claim only if it is more than a stated amount, and that the insured is responsible for all damages if the claim is under that amount. • Unlike a deductible, which the insured always has to pay, with
adequate remedy at law
A legal remedy (such as an award of damages) that provides sufficient relief to the petitioning party, thus preventing the party from obtaining equitable relief. See IRREPARABLE INJURY RULE. [Cases: Specific Performance 5. C.J.S. Specific Performance § 8.]
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bodily injury
Physical damage to a person’s body. — Also termed physical injury. See serious bodily injury. [Cases: Damages 30, 32; Insurance 2276. C.J.S. Damages §§ 53, 89–93; Insurance §§ 941, 943, 1132–1133.]
scandalum magnatum
scandalum magnatum (skan-d[schwa]-l[schwa]m mag-nay-t[schwa]m). [Law Latin] Hist. Actionable slander of powerful people; specif., defamatory comments regarding persons of high rank, such as peers, judges, or state officials. “Words spoken in derogation of a peer, a judge, or other great officer of the realm, which are called scandalum magnatum, are held to be still more heinous;
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