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LSDefine

Simple English definitions for legal terms

marine rule

Read a random definition: quoad potest

A quick definition of marine rule:

The marine rule is a principle used in insurance that states if the cost of fixing damaged property is more than half the value of the property before the damage, then the property is considered completely destroyed. This rule was originally used for ships, but it can also apply to other things like buildings.

A more thorough explanation:

The marine rule is a principle used in insurance that states that if the cost of repairing damaged property is more than half of the value of the property before the damage occurred, then the property is considered to be completely destroyed.

This rule was originally developed for ships that were insured under marine insurance policies. However, it has also been applied to other types of property, such as buildings.

Suppose a ship is insured for $1 million and is damaged in a storm. The cost of repairing the ship is estimated to be $600,000. According to the marine rule, since the cost of repairs is more than half of the value of the ship before the damage, the ship is considered to be a total loss. The insurance company would then pay out the full $1 million to the owner of the ship.

Similarly, if a building is insured for $500,000 and is damaged in a fire, and the cost of repairs is estimated to be $300,000, the building would be considered a total loss under the marine rule. The insurance company would then pay out the full $500,000 to the owner of the building.

These examples illustrate how the marine rule is used to determine whether damaged property should be considered a total loss or if it can be repaired. If the cost of repairs is too high, it is more cost-effective to consider the property a total loss and pay out the full value of the insurance policy.

mariner's will | mariner's hypothec

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I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
ClassyPleasantHeron
10:01
The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.
soapy
10:06
Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?
1a2b3c4d26z
10:06
Man
1a2b3c4d26z
10:07
Walkin to the bus
1a2b3c4d26z
10:07
What a good day to get into law school
ClassyPleasantHeron
10:11
@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.
soapy
10:12
Ahh, got it. Thank you for the insight!
ClassyPleasantHeron
10:14
You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.
soapy
10:15
I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.
i think it just indicates a change in status like under review or stages of review
my stanford address went long as soon as it was marked complete lmao
soapy
10:25
I saw some Reddit adcom say that they can see any time we refresh the status checker; I wonder if it's a red flag if an applicant's checked it like 50 times in a day?
soapy
10:25
Also, can we send another LoR to a school that we've already applied to?
soapy
10:26
Or another essay?
10:30
i'll allow it
soapy
10:31
<3 thanks Fart Butt
1a2b3c4d26z
10:31
If I get rejected by a school bc I check my statuses during work then it wasn’t meant to be
10:32
cautionary tail re reddit posts: https://www.youtube.com/watch?v=5jZAQAuqSfs
How else will they know we fuck
Need to know aboot 6 pack abs
How many 666 people apply?
lolololol
soapy
10:34
Ah that's frightening
@triplethread
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