LAPSED a.
Ineffectual, void, or forfeited; as, a lapsed policy of insurance; a lapsed legacy. Lapsed devise, Lapsed legacy (Law), a devise, or legacy, which fails to take effect in consequence of the death of the devisee, or legatee, before that of the testator, or for ether cause. Wharton (Law Dict.).
LLOYD'S n. 2 definitions
ters and others in London, for the collection and diffusion of marine intelligence, the insurance, classification, registration, and certifying of vessels, and the transaction of business of various kinds connected with shipping.
LOSS n.
Destruction or diminution of value, if brought about in a manner provided for in the insurance contract (as destruction by fire or wreck, damage by water or smoke), or the death or injury of an insured person; also, the sum paid or payable therefor; as, the losses of the company this year amount to a million of dollars…
MARINE a.
.), a steam engine for propelling a vessel. -- Marine glue. See under Glue. -- Marine insurance, insurance against the perils of the sea, including also risks of fire, piracy, and barratry. -- Marine interest, interest at any rate agreed on for money lent upon respondentia and bottomry bonds. -- Marine law. See und…
PERSPECTIVE n.
rance of objects, by means of which the eye recognized them as being at a more or less measurable distance. Hence, aërial perspective, the assumed greater vagueness or uncertainty of outline in distant objects. Aërial perspective is the expression of space by any means whatsoever, sharpness of edge, vividness of color,…