The depth necessary to submerge a ship to her load line.
Insurance Encyclopedia
Draft book claim payment
Type of insurance claim adjudication (settlement) in which the insurance company authorizes the policyholder (insured) to settle claims and to issue payment on behalf of the insurer.
Draft or Bill of Exchange
An unconditional order in writing from one person (the drawer) to another (the drawee), directing the Drawee to pay a specified amount to a named Drawer at a fixed or determinable future date.
Draft standard for trial use
Archaic term for any X12 standard that has been approved since the most recent release of X12 American National Standards. The current equivalent term is X12 standard.
Dram Shop Exclusion
An exclusion in liability insurance policies for liability resulting from distribution of alcoholic beverages.
Dram Shop Law for Liability Legal
Liquor liability laws are called dram shop laws. They provide that a person serving someone who is intoxicated or contributing to the intoxication of another person may be liable for injury or damage caused by the intoxicated person.
Dram shop laws
State laws pertaining to selling and serving alcoholic beverages and the public liability these activities may entail. Also called alcoholic beverage control (ABC) laws.
Dram shop laws (Legal Terminology)
A liability law that applies to serving alcohol or otherwise contributing to another person’s intoxication. Any person engaged in either activity could be found liable for the injuries sustained by the intoxicated person, or the damages they cause.
Dram shop liability insurance
See: Liquor liability insurance.
Dram shop liability insurance (Liability)
Insurance that covers the proprietors of a business that serves alcohol. The insurance protects them from being liable for accidents caused by customers who became intoxicated inside the establishment.