memorandum clause
Defined in 5 dictionaries — Case Law, Cyclopedic (1922), Bouvier (1914), Black's (1910), Black's (1891)
Definitions from Case Law
From 48 U.S. 595 - Jacob Hugg and John Bandel v. The Augusta Insurance and Banking Company of the City of Augusta · 1849Most cited · 28 citing opinions
In the case of memorandum articles, the exception of particular average excludes a constructive total loss; and, of course, the principle which allows an abandonment where the loss exceeds half the value does not apply. There must be an actual total loss of the goods. The object of the clause is to protect the underwriter from any partial loss on articles of a perishable nature, which are liable to inherent decay and damage, independently of the damage occasioned by the perils insured against
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
In a policy of marine insurance, -the memorandum clause is a clause inserted to prevent the underwriters from being liable for injury to goods of a peculiarly perishable nature, and for minor damages. It begins as follows: "N. B. Corn, fish, salt, fruit, flour, and seed are warranted free from average, unless general, or the ship be stranded;" meaning that the underwriters are not to be liable for damage to these articles caused by sea water or the like.
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
A clause inserted in a marine insurance policy to prevent the underwriters from being liable for injury to goods of a peculiarly perishable nature, and for minor damages. Maude & P. Shipp. 371. See Memobandum.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
In a policy of manne insurance the memorandum clause is a clause inserted to prevent the underwriters from being liable for injury to goods of a peculiarly perishable nature, and for minor damages. It begins as follows: "N. B. Com, fish, salt, fruit, flour, and seed are warranted free from average, unless general, or the ship be stranded,"—meaning that the underwriters are not to be liable for damage to these articles caused by seawater or the like. Maude & P. Shipp. 371; Sweet.
Defined under Memorandum in Black's Law Dictionary.
A Dictionary of Law
Henry Campbell Black · 1891
Ina policy of marine insurance the memorandum elause is a clause inserted to prevent the underwriters from being liabie for injury to goods of a peculiarly perishable nature, and for minor damages. It begins as follows: “N. B. Corn, fish, salt, fruit, flour, and that the underwriters are not to be liable for damage to these articles caused by sea- water or the like. Maude & P, Shipp. 371; Sweet.