Interest Or No Interest
Defined in 4 dictionaries — Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910)
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
A provision in a policy of insurance, which imports that the policy is to be good though the insured have no insurable interest in the subject matter. This constitutes a "wager policy," which is bad in England, by St. 19 Geo. II. c. 37, and, generally, from the policy of the law. 2 Pars. Mar. Law, 89, note. INTEREST REIPUBLICAE NE MALEFIcia remaneant imipunita. It concerns the commonwealth that crimes do not remain unpunished. Jenk. Cent. Cas. 30, 31. INTEREST REIPUBLICAE NE SUA quis male utatur. It concerns the republic that no one misuse his property. 6 Coke, 36. INTEREST REIPUBLICAE QUOD HOMInes conserventur. It concerns the commonwealth that we be preserved. 12 Coke, 62. INTEREST REIPUBLICAE RES JUDICAtas non rescind!. It concerns the commonwealth that things adjudged be not rescinded. See "Res Judicata." INTEREST REIPUBLICAE SUPREMA hominum testamenta rata haberi. It concerns the commonwealth that men's last wills be sustained. Co. Litt. 236. INTEREST REIPUBLICAE UT CARCEres sint in tuto. It concerns the commonwealth that prisons be secure. 2 Inst. 689. INTEREST REIPUBLICAE UT PAX IN the state to preserve peace in the kingdom, and to prudently decline whatever is adverse to it. 2 Inst. 158. INTEREST REIPUBLICAE UT QUALIbet re sua bene utatur. It concerns the commonwealth that every one use his property properly. 6 Coke, 37. INTEREST REIPUBLICAE UT SIT Finis litium. It concerns the commonwealth that there be a limit to litigation. Co. Litt. 303.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
A provision in a policy of Insurance, which imports that the policy is to be good though the insured have no Insurable Interest in the subject-matter. This constitutes a wager policy, which is bad by statute 19 Geo. II. c. 37, and generally, from the policy of the law; 2 Par. Mar. Law 89, note. See Insurable Interest; Policy.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
These words, inserted in an insurance policy, mean that the question whether the insured has or bas not an insurable interest in the subject-matter is waived, and the policy is to be good irrespective of such interest. The effect of such a clause is to make it a wager policy.
Defined under Interest in Black's Law Dictionary.