Legal Definition and Related Resources of Wager policy
Meaning of Wager policy
In insurance law. A policy without any real interest to support it; a policy in which the insured has no interest, being in fact nothing more than a wager or bet between the parties, whether such a voyage would be performed, or such a ship arrive safe. 3 Kent, Comm. 277, 278. A mere hope or expectation, without some interest in the subject matter, is a wager policy. Id. 275. Mr. Amould defines a wager policy to be “one in which the parties, by express terms, disclaim, on the face of it, the intention of making a contract of indemnity.” 1 Arnould, Ins. 276 (281, Perkins Ed.) Policies of this kind are now generally held to be illegal. Id. 285 (289) ; 1 Duer, Ins. 93-95, 154, 155.
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| Wager Policy in the Dictionary | Wager Policy in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Wager Policy |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
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| Related topics | Wager Policy in the World Encyclopedia of Law |
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This definition of Wager Policy is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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