Dictionary of Law
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risk :: legal definition


Risk - n. chances of danger or loss, particularly of property covered by an insurance policy or property being used or transported by another. Insurance companies assume the risk of loss and calculate their premiums by the value and the risk based on statistically determined chances. A trucking company assumes the risk of loss while carrying goods.

See also: assumption of risk risk of loss and Related Law Terms ↓


Related Law Terms

adjuster :: n. an employee (usually a non-lawyer) of an insura ... e company in approving settlements.
bail bond :: n. a bond provided by an insurance company through ... urned. See also: bail bail bondsman
coinsurance :: n. an insurance policy in which the insurance comp ... e insurance company share the risk.
condition subsequent :: n. 1) in a contract, a happening which terminates ... Dad Fauntleroy. See also: condition
cumis counsel :: n. an attorney employed by a defendant in a lawsui ... fendant be approved by the company.
escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent
impound :: v. 1) to collect funds, in addition to installment ... cases. See also: forfeit forfeiture
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
insurer :: n. an insurance company which agrees to pay someon ... lled a premium. See also: insurance
lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
no fault insurance :: n: a type of automobile insurance required of car ... ling lawsuits. See also: negligence
non-contestability clause :: n. an insurance policy provision which requires th ... claim is made by the policyholder.
subrogation :: n. assuming the legal rights of a person for whom ... also: negligence subrogee subrogor
subrogee :: n. the person or entity that assumes the legal rig ... aid. See also: subrogation subrogor
subrogor :: n. a person or entity that transfers his/her/its l ... ges. See also: subrogation subrogee
title insurance :: n. a policy issued by an insurance company guarant ... : chain of title title title search
title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance
title search :: n. the examination of county records for the prope ... e escrow lien title title insurance

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - R

race to the courthouse :: n. slang for the rule that the first deed, deed of ... e also: deed judgment lien mortgage
Racketeer Influenced Corrupt Organization (RICO) statue :: n. a federal law which makes it a crime for organi ... s to operate legitimate businesses.
racketeering :: n. the federal crime of conspiring to organize to ... ("organized crime" or "the Mafia").
ransom :: 1) n. money paid to a kidnapper in demand for the ... ive. See also: abduction kidnapping
rape :: 1) n. the crime of sexual intercourse (with actual ... See also: date rape statutory rape
ratable :: adj. taxable according to value, such as an estate ... lue, such as an estate or property.
ratification :: n. confirmation of an action which was not pre-app ... mployee). See also: agent principal
ratify :: v. to confirm and adopt the act of another even th ... ligation. See also: agent principal
rational basis :: n. a test of constitutionality of a statute, askin ... imate and constitutional objective.
ready, willing and able :: adj. fully prepared to act, as in performing a con ... o act, as in performing a contract.
real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
real party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust.
real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion
realty :: n. a short form of "real estate." See also: real e ... real estate." See also: real estate
reasonable :: adj., adv. in law, just, rational, appropriate, or ... ost of other actions or activities.
reasonable care :: n. the degree of caution and concern for the safet ... . See also: duty of care negligence
reasonable doubt :: n. not being sure of a criminal defendant's guilt ... also: preponderance of the evidence
reasonable reliance :: n. particularly in contracts, what a prudent perso ... the following:." See also: contract
reasonable speed :: n. the speed of an automobile determined to be low ... e speed limit. See also: negligence