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Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
A lien is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienee and the person who has the benefit of the lien is referred to as the lienor or lien holder.
A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien.
Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the principal amount on maturity. Fixed-income securities — more commonly known as bonds — can be contrasted with equity securities – often referred to as stocks and shares – that create no obligation to pay dividends or any other form of income. Bonds carry a level of legal protections for investors that equity securities do not — in the event of a bankruptcy, bond holders would be repaid after liquidation of assets, whereas shareholders with stock often receive nothing.
Title insurance is a form of indemnity insurance predominantly found in the United States and Canada which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Unlike some land registration systems in countries outside the United States, US states' recorders of deeds generally do not guarantee indefeasible title to those recorded titles. Title insurance will defend against a lawsuit attacking the title or reimburse the insured for the actual monetary loss incurred up to the dollar amount of insurance provided by the policy.
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issues of security in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter.
Plutarch's Lives of the Noble Greeks and Romans, commonly called Parallel Lives or Plutarch's Lives, is a series of 48 biographies of famous men, arranged in pairs to illuminate their common moral virtues or failings, probably written at the beginning of the second century AD. The surviving Parallel Lives comprises 23 pairs of biographies, each pair consisting of one Greek and one Roman of similar destiny, such as Alexander the Great and Julius Caesar, or Demosthenes and Cicero. It is a work of considerable importance, not only as a source of information about the individuals described, but also about the times in which they lived.
Hypothec, sometimes tacit hypothec, is a term used in civil law systems or mixed legal systems to refer to a registered non-possessory real security over real estate, but under some jurisdictions it may sometimes also denote security on other collaterals such as securities, intellectual property rights or corporeal movable property, either ships only as opposed to other movables covered by a different type of right (pledge) in the legal systems of some countries, or any movables in legal systems of other countries. The common law has two equivalents to the term, namely mortgage and non-possessory lien.
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906.
A balloon payment mortgage is a mortgage which does not fully amortize over the term of the note, thus leaving a balance due at maturity. The final payment is called a balloon payment because of its large size. Balloon payment mortgages are more common in commercial real estate than in residential real estate. A balloon payment mortgage may have a fixed or a floating interest rate. The most common way of describing a balloon loan uses the terminology X due in Y, where X is the number of years over which the loan is amortized, and Y is the year in which the principal balance is due.
Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though marine insurance also includes onshore and offshore exposed property,, hull, marine casualty, and marine liability. When goods are transported by mail or courier or related post, shipping insurance is used instead.
A culverin was initially an ancestor of the hand-held arquebus, but later was used to describe a type of medieval and Renaissance cannon. The term is derived from the antiquated "culuering" and the French "couleuvrine" From its origin as a hand-held weapon it was adapted for use as artillery by the French in the 15th century, and for naval use by the English in the 16th century. The culverin as an artillery piece had a long smoothbore barrel with a relatively long range and flat trajectory, using solid round shot projectiles with high muzzle velocity.
Amurca is the bitter-tasting, dark-colored, watery sediment that settles out of unfiltered olive oil over time. It is also known as "olive oil lees" in English. Historically, amurca was used for numerous purposes, as first described by Cato the Elder in De Agri Cultura, and later by Pliny the Elder. Cato mentions its uses as a building material (128), pesticide, herbicide, dietary supplement for oxen (103) and trees, food preservative, as a maintenance product for leather (97), bronze vessel (98), and vases (100), and as a treatment for firewood in order to avoid smoke (130).
Antichresis, under civil law and Roman law, is a contract whereby a debtor pledges real property to a creditor, allowing the use and occupation of the pledged property, in lieu of interest on the loan.
Aromaticum rosatum was a powder used in traditional medicine made of red roses, liquorice, aloeswood, yellowheart, cinnamon, cloves, mace, gum tragacanth, nutmegs, cardamoms, galangals, spikenard, ambergris, and musk mixed together. It was chiefly prescribed in cordial and cephalic boles and electuaries. It was believed to act as a tonic on the heart, stomach and liver.
A mortgage loan or simply mortgage, in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
The Delia were festivals and games celebrated in classical antiquity at the great celebratory gathering (panegyris) on the island of Delos.
Diachylon, also rendered diachylum or diaculum, was originally a kind of medicament made of the juices of several plants, but now commonly the name for lead-plaster, emplastrum plumbi—a plaster made of lead oxide boiled together with olive oil and water. It is applied to sheets of linen, and works as an adhesive plaster when heated.
Bond insurance, also known as "financial guaranty insurance", is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security. It is a form of "credit enhancement" that generally results in the rating of the insured security being the higher of (i) the claims-paying rating of the insurer or (ii) the rating the bond would have without insurance.
The NorthStandard P&I Association or Club is a marine mutual liability insurer in the United Kingdom.
References
- ↑ Chambers, Ephraïm (1728). s.v. BOTTOMAGE. Cyclopædia: or, An Universal Dictionary of Arts and Sciences (1 ed.). London: James & John Knapton; John Darby; and others. vol. 1, p. 120.
- ↑ Demosthenes, Orations, 32 http://www.perseus.tufts.edu/hopper/text?doc=Perseus%3Atext%3A1999.01.0076%3Aspeech%3D32%3Asection%3D1
- ↑ Cato, c. 21, in Waterfield, Robin. Plutarch, Roman Lives. ISBN 978-0-19-282502-5
- ↑ Michael Kaplan and Ellen Kaplan (2006). Changes Are... Adventures in Probability. Viking Penguin, p. 94.
- ↑ Stewart, William J. (2012). Collins dictionary of law (3rd ed.). Glasgow [Scotland]: Collins. ISBN 9780007221653.
