memorandum clause

memorandum clause. A marine-insurance clause protecting underwriters from liability for injury to goods that are particularly perishable, or for minor damages. [Cases: Insurance 2235, 2241. C.J.S. Insurance §§ 1195–1196, 1199–1203, 1208, 1211–1214, 1216–1217.] “This clause was first introduced into the English [marine-insurance] policies about the year 1749. Before that time the insurer was liable for […]

A marine-insurance clause protecting underwriters from liability for injury to goods that are particularly perishable, or for minor damages. [Cases: Insurance 2235, 2241. C.J.S. Insurance §§ 1195–1196, 1199–1203, 1208, 1211–1214, 1216–1217.]