INSURANCE, MARINE, contracts. Marine insurance is a contract whereby one
party, for a stipulated premium, undertakes to indemnify the other against
certain perils or sea risks, to which his ship, freight, or cargo, or some
of them may be exposed, during a certain voyage, or a fixed period of time.
3 Kent, Com. 203; Boulay-Paty, Dr. Commercial, t. 10.
2. This contract is usually reduced to writing; the instrument is
called a policy of insurance. (q. v.)
3. All persons, whether natives, citizens, or aliens, may be insured,
with the exception of alien enemies.
4. The insurance may be of goods on a certain ship, or without naming
any, as upon goods on board any ship or ships. The subject insured must be
an insurable legal interest.
5. The contract requires the most perfect good faith; if the insured
make false representations to the insurer, in order to procure his insurance
upon better terms, it will avoid the contract, though the loss arose from a
cause unconnected with the misrepresentation, or the concealment happened
through mistake, neglect, or accident, without any fraudulent intention.
Vide Kent, Com. Lecture, 48; Marsh. Ins. c. 4; Pardessus, Dr. Com. part 4,
t. 5, n. 756, et seq.; Boulay-Paty, Dr. Com. t. 10.
MARINE. Whatever concerns the navigation of the sea, and forms the naval
power of a nation is called its marine.Naval Construction Battalion
, Naval Reservist
, RN, Royal Marine
, Royal Navy
, United States Navy
, coast guard
, horse marine
, merchant fleet
, merchant marine
, merchant navy
, mosquito fleet
, naval cadet
, naval forces
, naval militia
, naval reserve
, navy man
, task force
, task group