Policy

a definite course or method of action selected (as by a government, institution, group, or individual) from among alternatives and in the light of given conditions to guide and usu[ally] determine present and future decisions." Webster's Third New International Dictionary 1754 (1976).

In insurance. The Instrument whereby insurance is made by an underwriter in favor of an assured, expressed, implied, or intended, against some risk, peril, or contingency in reference to some subject. It is usually either marine, or against fire, or on a life. (1) An interest policy is one where the insured has a real, substantial, assignable interest in the thing insured. (2) An open policy is one on which the value is to be proved by the assured. 1 Phil. Ins. §§ 4, 6, 7, 27, 439, 948, 1178. By an "open policy" is also sometimes meant, in the United States, one in which an aggregate amount is expressed in the body of the policy, and the specific amounts and subjects are to be indorsed from time to time. 12 La. Ann. 259; 19 N. Y. 305; 6 Gray (Mass.) 214. (3) A valued policy is one where a value has been set on the ship or goods insured, and this value inserted in the policy in the nature of liquidated damages. In such a policy, the value of the subject is expressly agreed, or is, as between the parties, the amount insured. (4) A wager policy is a pretended insurance, founded on an ideal risk, where the insured has no interest in the thing insured, and can therefore sustain no loss by the happening of any of the misfortunes insured against. These policies are strongly reprobated. 3 Kent, Comm. 225.

PUBLIC. See Public Policy;

The general principles by which a government is guided in its management of public affairs or the legislature in its measures. This term, as applied to a law, ordinance, or rule of law, denotes its general purpose or tendency considered as directed to the welfare or prosperity of the state or community.

— Policy of a statute. The "policy of a statute," or "ot the legislature," as applied to a penal or prohibitive statute, means the intention of discouraging conduct of a mischievous tendency. See In R. 6 P. C. 134; 5 Barn. & Aid. 335; Pol. Cont. 235.

— Policy of the law. By this phrase is understood the disposition of the law to discountenance certain classes of acts', transactions, or agreements, or to refuse them its sanction, because it considers them immoral, detrimental to the public welfare, subversive of good order, or otherwise contrary to the plan and purpose of civil regulations.

— Public policy. The principles under which the freedom of contract or private dealings is restricted by law for the good of the community. Wharton. The term "policy," as applied to a statute, regulation, rule of law, course of action, or the like, refers to its probable effect, tendency, or object, considered with reference to the social or political well-being of the state. Thus, certain classes of acts are said to be "against public policy," when the law refuses to enforce or recognize them, on the ground that they have a mischievous tendency, so as to be injurious to the interests of the state, apart from illegality or immorality. Sweet. And see Egerton v. Earl Brownlow, 4 H. L. Cas. 235; Smith v. Railroad Co., 115 Cal. 584, 47 Pac. 582, 35 In R. A. 309, 56 Am. St. Rep. 119; Tarbell v. Rnilroad Co.., 73 Vt 347, 51 Atl. 6, 56 In R. A. 656, 87 Am. St. Ren. 734; Hartford F, Ins. Co., v. Chicago, etc.. R. Co.., 175 U. S. 91, 20 Sup. Ct. 33. 44 L. Ed. 84; Enders v. Enuers, 164 Pa. 266, 30 Atl. 129, 27 L. R. A. 56, 44 Am. St. Rep. 598; Smith v. Du Bose, 78 Ga. 413, 3 S. E. 309, 6 Am. St. Rep. 260; Billingsley v. Clelland, 41 W. Va. 234, 23 S. El 812.

A system of prosperity of a state of insurance, by the

1. Polity; police, q. v. The settled method by which the government and affairs of a nation are, or may be, administered; a system of public or official administration, as designed to promote the external or internal prosperity of a state.< Public policy. "What is the " public policy " of a State, and what is contrary to it, if inquired into beyond what its constitution, laws, and judicial decisions make known, will be found to be a matter of great vagueness and uncertainty, and to involve discussions which scarcely come within the range of judicial duty and functions, and upon which men may and will differ.^ What is termed the " policy of the government," with reference to any particular legislation, is generally a very uhcertain thing, upon which all sorts of opinions may be formed. It is a ground much too unstable upon which to rest the interpretation of a statute.^ The Federal courts can know nothing of " public policy " except from the Constitution and the laws, 6 South. Law E. 59-79 (1880), cases; 3 Kan. Law J. 386; 4 id. 36 (1886)

— Chic. Leg. News; 85 Cent. Mag. 179; 6 Saw. 605; 70 HI. 194; 89 Minn; 451; 18 Mo. Ap. 219-22;

An instrument embodying the contract of insurance, which is open if the value is to be proved by the insured, in case of loss; and valued where the value is inserted in the policy in the nature of hquidated damages. PolL Cut; shaved, even. v. Deed. Polls: v. Challenge.

Or, more fully, policy of assurance, or insurance, is the name by which the formal written instrument in which the contract of insurance is usually embodied, is known. The term policy of insurance cannot mean a verbal contract, altliough such contract may be a valid one. Manny v. Dunlap, 1 Woolw. 372. Policy of the la'w. This phrase, in a statute declaring that " no interest or policy of the law shall exclude a party from being a witness," &c., does not include the public policy which prevents a husband or wife from proving non-access. Tioga Co. v. South Creek Township, 75 Pa. St. 433.