Connection lost
Server error
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
✨ Enjoy an ad-free experience with LSD+
Legal Definitions - running-down clause
Law school is a lot like juggling. With chainsaws. While on a unicycle.
✨ Enjoy an ad-free experience with LSD+
Definition of running-down clause
A running-down clause is a provision in marine insurance that requires the insurer of a ship's hull to pay a portion of the damages sustained by another vessel in a collision.
Suppose a ship collides with another vessel, causing damage to both ships. If the ship that caused the collision is insured with a running-down clause, its insurer will pay a portion of the damages sustained by the other vessel.
For instance, if the total damages amount to $100,000 and the running-down clause specifies that the insurer will pay 50% of the damages, the insurer will pay $50,000 to the other vessel's insurer.
This clause is important because it helps to ensure that both parties are compensated for their losses in the event of a collision.
Law school: Where you spend three years learning to think like a lawyer, then a lifetime trying to think like a human again.
✨ Enjoy an ad-free experience with LSD+
Simple Definition
A running-down clause is a part of marine insurance that says if a ship crashes into another ship and causes damage, the insurance company for the first ship will help pay for the damage to the second ship. This helps make sure that both ships can get the repairs they need after a collision.
I feel like I'm in a constant state of 'motion to compel' more sleep.
✨ Enjoy an ad-free experience with LSD+