Return-Day
Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
A day appointed by law when all writs are to be returned which have issued since the preceding return-day. The sheriff is, in general, not required to return his writ until the return-day. After that period he may be ruled to make a return. See Rule Day; Crastinum; Term. RETURN OF PREMIUM^ A repayment of a part or the whole of the premium paid. Policies of insurance, especially those on marine risks, not unfrequently contain stipulations for a return of the whole or a part of of any such stipulation, in a case free of fraud on the part of the assured, if the risk does not commence to run, he is entitled to a return of it, if paid, or an exoneration from his liability to pay it, subject to deduction settled by stipulation or usage; and so, pro rata, if only a part of the insured subject is put at risk; 2 Phill. Ins. ch. xxii. sect, i.; and so an abatement of the excess of marine interest over the legal rate is made in hypothecation of ship or cargo in like case; id. sect. vii.