Mortgagee Clause In Insurance Policy | Mortgagee And Insurance

English Law: mortgage clause in insurance policy

Mortgagee Clause in Insurance Policy Mortgagee clause in insurance policy. A clause in a fire insurance policy, as taken out by a mortgagor, that refers to the interest of the mortgagee in the mortgaged property. The clause may require only that the mortgagee is informed if any claim is made under the policy; or, more usually, it requires that any money paid under the policy goes direct to the mortgagee to the extent of the amount of the mortgage, in which case it is usually called a … [Read more...]

Act of God | Event of Natural Consequence

An Act of God

An Act of God A sudden or extraordinary act arising directly and exclusively from natural causes An act that does not arise from any human agency and cannot reasonably be foreseen or controlled by man. “something in opposition to the act of man”, Forward v Pittard (1785) 1 Term Rep 27, 99 Eng Rep 953, 956 (Watts v. Smith, 226 A.2d 160, 162 (DC Ct App 1967)). An act of God includes such activities as an earthquake, hurricane or tornado, lightning, volcanic eruption, extraordinary floods, … [Read more...]

Force Majeure | Force Majeure Superior Force But Not Act Of God

Force majeure

Force Majeure and Act of God Force majeure and Act of God are similar and  both can bring a contract or obligation (including in rare cases a lease) to an end. Force majeure literally means a ‘superior force’. A term that is used more in civil or French law, as well as in insurance, to refer to a physical or material act that is uncontrollable or beyond human capacity to prevent, such as lightning, storms, earthquake, or sudden death (Lehman, Stern & Co. v. Morgan’s Louisiana … [Read more...]