lost or not los

1 definition found

lost or not los - Bouvier's Law Dictionary, Revised 6th Ed (1856) :

  LOST OR NOT LOST. These words are sometimes inserted in policies of marine 
  insurance. They are used when the underwriter undertakes that if the ship or 
  goods should be lost at the time of the insurance, still the underwriter is 
  liable, provided there is no fraud. Moll. B. 2, c. 7, s. 5; Hildy. on Mar. 
  Ins. 10.