Maritime Law

Maritime Law Maritime Law The value of legion(predicate) shipments depends upon fluctuations in the currency rates, freight, handling charges, and other expenses. By essence of indemnification protection will be provided to goods from any rebellious variables. A contract of Marine Insurance is defined by percentage 7 of the Marine Insurance Act of 1909 as: "A contract whereby the insurer undertakes to indemnify the assured, in personal elan and to the extent thereby agreed, against maritime passagees, that is to say, the dismissiones incident to oceanic adventure.

" The purpose of marine insurance policy is to provide protection against pecunia ry loss for an amount, which is as close as possible to the real(a) loss recognized. Marine insurance is a contract by which bingle party for a specified consideration promises to represent other party a sum of money on the loss of goods that are subject to marine transport. Therefore marine insurance is a contract of indemnity, which is a contract of reimbursement, and t...If you fate to halt a full essay, order it on our website: OrderEssay.net

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