WAGER POLICY,
\wˈe͡ɪd͡ʒə pˈɒlɪsi], \wˈeɪdʒə pˈɒlɪsi], \w_ˈeɪ_dʒ_ə p_ˈɒ_l_ɪ_s_i]\
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It has nothing in common with insurance but the name and form. It is usually in such terms as to preclude the necessity of inquiring into the interest of the insured; as, "interest or no interest," or, "without further proof of interest than the policy."
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Such contracts being against the policy of the law are void. 1 Marsh. Ins. 121 Park on Ins. Ind. h. t.; Wesk. Ins. h. t.; See 1 Sumn. 451; 2 Mass. 1 3 Caines, 141.
By John Bouvier
Word of the day
hydromorphic
- [Greek] Structurally adapted to an aquatic environment, as organs of water plants.