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LSDefine

Simple English definitions for legal terms

insurable interest

Read a random definition: Springing executory interest

A quick definition of insurable interest:

Insurable interest means having a reason to protect something because it would cause you harm if it were damaged or lost. For example, if you own a car, you have an insurable interest in it because if it gets damaged or stolen, it would cause you financial harm. Insurable interest is important when buying insurance because you need to have a reason to protect something in order to insure it.

A more thorough explanation:

Insurable interest refers to a legal or financial stake that a person has in a property or event that is being insured. It means that the person will suffer a financial loss if the property or event is damaged or lost.

For example, if you own a car, you have an insurable interest in it because you will suffer a financial loss if it is damaged or stolen. Similarly, if you have a mortgage on a house, you have an insurable interest in the property because you will suffer a financial loss if it is damaged or destroyed.

Insurable interest is important in insurance because it helps to prevent fraud. If someone without an insurable interest in a property or event were allowed to take out insurance on it, they could potentially profit from its loss or damage, which would be unethical and illegal.

insurable | insurable value

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General

General chat about the legal profession.
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Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
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