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LSDefine

Simple English definitions for legal terms

memorandum articles

Read a random definition: abiaticus

A quick definition of memorandum articles:

Memorandum articles are a type of clause in marine insurance that protect underwriters from liability for damage to goods that are easily perishable or for minor damages. This clause was introduced in English marine-insurance policies in 1749. Before this clause, insurers were liable for any damage, no matter how small, to the insured goods. The memorandum clause states that certain articles, including perishable ones, are free from average under a given rate unless the ship is stranded or there is a general average. This means that small partial losses are to be borne by a general average if they were incurred in a case proper for such an average.

A more thorough explanation:

Memorandum articles refer to goods that are described in the memorandum clause of a marine insurance policy. The memorandum clause is a provision that protects underwriters from liability for injury to goods that are particularly perishable or for minor damages.

For example, let's say a shipping company wants to insure a shipment of fresh fruits and vegetables. The memorandum clause in the marine insurance policy may specify that these perishable goods are exempt from average under a given rate, unless there is a general average or the ship is stranded. This means that if there are any small partial losses, they will be borne by a general average, provided they were incurred in a case proper for such an average.

The memorandum clause was first introduced into English marine insurance policies in 1749. Before that time, insurers were liable for every injury, no matter how small, that happened to the insured goods. The memorandum clause provides a way for underwriters to limit their liability for certain types of goods, while still providing coverage for more significant losses.

memdispo | memorandum check

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GodsPlanUltimately
22:47
Rationally that's what I thought but irrationally I was like crying throwing up did I mess it up lol
babycat
22:49
Lol you’re all good
GodsPlanUltimately
22:49
I'm assuming then for status checking eventually that the school emails you that information once LSAC finishes processing?
babycat
22:50
Yep
GodsPlanUltimately
22:50
Thank you ╱|、 (˚ˎ 。7 |、˜〵 じしˍ,)ノ
GodsPlanUltimately
22:50
Just stressing because this is my first and only app.
GodsPlanUltimately
22:53
Does the CAS Report send once the school requests it or do I have to send it ?
babycat
23:02
It sends automatically
babycat
23:02
Why only one app?
GodsPlanUltimately
23:06
I'm in a dual degree program that my undergraduate has where if you meet a gpa and percentile you can have your senior year be your L1 ! Cuts off a year of time and money and the partner was my top pick for law anyways. It all just worked out and since it's ED can't really apply anywhere else because the L1 transfers back to complete my degree. :)
babycat
23:14
oh that’s nice! I guess you have a high degree of certainty about the process then
Dkk
0:10
Welcome. About to eat another ghost pepper. @babycat
Dkk
0:27
God my mouth is burning so much
@babycat: A few things. I mean, for one, this is my fifth year of undergrad (graduating with a dual BA/MA), so I don't think academically I'm incredibly behind or anything. Beyond, that I've explored other fields, and for the very niche area of public interest work I am interested in, law is the only way I can make a substantiative difference so why not start now.
And also my other options just are not great. I could take a shit paying job at a think tank, I was offered a job at, but I don’t find the work interesting. Or I could continue in academia, getting a phd, but again just not especially interested in academic philosophy.
I would say more, but I am very close to doxxing myself if I haven’t already.
Dkk
1:02
5th year at 19. That is amazing.
Dkk
1:02
So you started when you were 14. Wow.
Dkk
1:11
I tried to find you but if still in school, other names pop up first. Do you drink alcohol? If not, you should start drinking to catch up to me. @texas
I started at 15
turning 20 this year
or well very beginning of next year
Dkk
1:15
My best advice is to start learning wine and cocktails asap. Take the introductory and certified sommelier exam as soon as you hit 21.
Dkk
1:16
I could not find you with that information. You are still probably pretty safe. Though I did not use all my search engines or filters.
@Dkk: That is good. Granted I don't think being doxxed would be the end of the world, but who knows.
And, yeah, I have drinken a little bit over the last couple of years (what college student hasn't), but not a massive fan
Dkk
1:24
That is cus college people drink like idiots. I was not a fan at my first college and I did not start drinking until I was 22.5. The art of Sommelier stuff though is less about drinking and more about thought process. Kind of a puzzle like a logic game. Same with cocktails. You will love it if you hate college type drinking.
Dkk
1:25
It's something to do outside of the things you mentioned, it is useful for networking, and it will help you in law school. It will help you find exactly what you want to do in law school.
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