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Insurance and Real Estate

Bonds And Mortgages 1
Bonds And Mortgages 1. Use Of The Bond And Inortgage.—when Real Property Is Given As Security For The Payment Of A Debt Or Obligation, The Instrument Used For The Pur Pose Of Transferring The Title To Such Property As Se Curity Is Called A Mortgage. The Debt Itself Is Usu ...

Brokerage 1
Brokerage 1. Broker And His Duties.—"real Estate Brokers Are Thost Who Negotiate Between The Buyer And Seller Of Real Property, Either Finding A Purchaser For One Desirous To Sell, Or Vice Versa; They Also Manage Estates, Lease Or Let Property, Collect Rents, And Nego Tiate Loans On Bonds And Mortgages." ...

Business Methods Of Life
Business Methods Of Life Insurance 1. Loading.—the Expenses Of The Business Of Life Insurance Are Provided For By An Addition To The Net Premium, Called A Loading. The Premium Itself, As Computed By The Mortality Tables And The Assumed Interest Earnings, May Be Called A Net Or Pure Pre Mium, ...

Casualty Insurance 1
Casualty Insurance 1. Origin Of Casualty Insurance.—the General Name Given To The Branches Of Insurance Other Than Marine, Fire And Life, Is Casualty Insurance. In The Early Part Of The Nineteenth Century When Branches Other Than The Three Big Ones Began To Be Developed, The Name Accident Insurance Was, Altho ...

Contracts 1
Contracts 1. Real Estate Contracts Should Be In Writing.— Agreements For The Transfer Of An Interest In Real Property Belong To The Class Of Contracts, Which In Addition To The Common Characteristics Of All Contracts —agreements, Competent Parties, Lawful Considera Tion And A Promise—must Be In Writing In Order To ...

Deeds 1
Deeds 1. Forms Of Deeds In General Use.—the Instru Uient By Which Immediate Title To Land Is Transferred Is Called A Deed. There Are Three Forms Of Deeds In General Use, Known Respectively As Bargain And Sale Deed, Full Covenant And Warranty Deed, And Quit Claim Deed. The Law Does ...

Employers Liability Insurance And
Employers' Liability Insurance And Workmen's Compensation • 1. Rise Of New Phases Of Insurance.—legislation During The Past Thirty Years In Europe Has Brought About To Some Extent In The United States, A New Form Of Insurance To Which The General Title "social Insur Ance" Is Given. In The United States ...

Fire Insurance Policy 1
Fire Insurance Policy 1. Insurance Policy.—in The Year 1873, The State Of Massachusetts Adopted A Standard Fire Insurance Policy. If The Companies Elected To Use It, That Fact Was Duly Published And Thereafter All Their Policies In That State Were Issued Under The Standard Form. Some Few Years Later, The ...

Fire Insurance In General
Fire Insurance In General 1. Purpose Of Fire Insurance.—fire Insurance In Demnifies One N•ho May Sustain A "direct Loss" By Rea Son Of Fire. If A Claim For A Loss Is To Be Sustained Under The Policy It Is Necessary That There Shall Be An Actual Fire, A "glow," As ...

Fire Premium Rate 1
Fire Premium Rate 1. Problem Of The Rate.—when Fire Insurance Was First Established Rate-making Must Have Been Largely Guesswork. Barbon, Who Was Apparently Success Ful In His Insurance Adventure, Either By Good For Tune Or Some Clue To The Problem Of Which We Do Not Know, Evidently Made A Rate ...

Leases I
Leases I:. Landlord And Tenant.—a Landlord Is An Owner Of An Estate In Real Property, Or Of An Interest Therein, When Considered With Relation To Another Hiring The Property And Agreeing To Pay Rent, Who Is Known As The "tenant." 2. Definition Of Rent.—rent Is A Definite Periodi Cal Return ...

Liens 1
Liens 1. Liens, General And Specifie.—a Lien As Already Noted Is A Chattel Interest In Real Estate, And Is Personal Property. It Involves The Relation Of Debtor And Creditor, And If The Debt Is Not Paid, The Creditor Can Sell Or Require The Sale Of The Property Affected By The ...

Life Insurance 1
Life Insurance 1. General Features Of Life Insurance.—the Term Life Insurance Designates A Form Of Insurance Based On The Contingency Of Life. Life Insurance Has One Advantage Which Has Given It A Solid Basis Upon Which To Rest. It Has Only One Contingency To Consider. In All Of Its Forms, ...

Marine Insurance 1
Marine Insurance 1. Place And Importance.—the Contract Of Insur Ance Is Widely Used In The Modern Business World. Under Its Terms One Party, The Insured, Pays To A Sec Ond Party, The Insurer, A Sum Of Money In Consid Eration Of Which The Insurer Agrees To Indemnify The Insured For ...

Memorandum Of Sale
Memorandum Of Sale Have This Day Of 191purchased The Premises Described In The Above Annexed Printed Advertisement Of Sale, For The Sum Of Dollarsand Hereby Promise And Agree To Comply With The Terms And Conditions Of The Sale Of Said Premises, As Above Mentioned And Set Forth. Address 191 Received ...

Mortality And Investment Experience
Mortality And Investment Experience 1. Factors In The Prelnium.—in Life Insurance, The Premium Is Commonly Expressed By The Amount Charged For One Thousand Dollars Of Insurance For Or Dinary Policies, And By Smaller Units For Industrial In Surance. The Two Great Factors Which Determine The Premium Are Mortality And The ...

Taxes And Assessments 1
Taxes And Assessments 1. Lien Of Taxes On Property.—the Ownership Of Real Property Is Subject To The State's Power Of Taxa Tion. Taxes Are A Regular And Enforced Proportional Contribution To The Support Of Government. The Tax Is Levied Directly Upon The Property And When Levied Becomes An Enforceable Lien. ...

The Real Estate Business
The Real Estate Business And Its Interests 1. Real Estate A Business, Not A Profession.—real Estate Sometimes Is Inaccurately Spoken Of As A Pro Fession, But It Is Essentially A Business. A Profession Applies Science, Art Or Learning To The Use Of Others, The Profit To The Professor Or Person ...

Transfers And Closings Of
Transfers And Closings Of Title And Title Insurance 1. Growth Of Modern Right Of Transferring Titles. —under The Feudal System Of The Middle Ages, Land Tenure Was A Personal Relation Between The Tenant And His Overlord, Founded Upon The Necessity Of Material Defense, And Carrying With It The Obligation On ...