Cargo clause providing cover for losses that are not discovered until the boxes are opened after the termination of the risk. Externally the box or package appears in good condition, but contains concealed damage.

That part of the premium or reinsurance premium applicable to the unexpired portion of the policy. The unearned premium reserve is the accounting provision at a specific time that reflects the total amount of unearned premiums. The effect is to write down current profits by the reserve and carry it forward as income in the next financial year.

an amount representing a pro rata spread of premiums (sometimes less acquisition costs) carried forward from one accounting period to the next in recognition of the unexpired period of contracts remaining at the balance sheet date.

A contract defective only in the sense that it cannot be enforced by direct legal action. The contract is otherwise valid and subsisting, so a transferee of property gains a good title and any deposit paid may be retained. A contract of fidelity guarantee not in writing would be unenforceable (the Statute of Frauds).
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This is one, which lacks some evidential features. The contract is a valid one otherwise, but could not be enforced in a court of law.

Provision to safeguard the insurer against any deficiency in the unearned premium reserve. The risk reserve also allows for possible claims under contingency policies that run in perpetuity and do not lend themselves to annual apportionment.

(1) a provision for claims expected to arise in respect of the unexpired period of contracts in existence at the balance sheet date; (2) the excess of the amount of unexpired risks over the unearned premiums.

Governs a trader’s ability to restrict his liability. Any clause restricting negligence liability for death/injury is void. The following clauses will be void unless reasonable. (a) those attempting to restrict negligence liability for loss or damage to property; (b) standard term clauses limiting liability for breach contract; (iii) those requiring a consumer to indemnify any other party for negligence or breach of contract. It also provides that a trader cannot exclude a consumer’s statutory rights under the Sale of Goods Act 1979. The Act lays down a test of reasonableness. Insurance policies are exempt from the Act.

A statutory claim (Employment Rights Act 1996) entitling eligible employees to a compensation award by a tribunal. Dismissal is unfair if the employer fails to bring it within one of five permitted reasons: viz; conduct; capability; redundancy; illegality; or some other substantial reason. Employers can insure under Employment Practices Liability Insurance. Compare with wrongful dismissal.

Stipulates that a term which has not been individually negotiated in a consumer contract is unfair if it causes a significant imbalance in the rights and obligations of the parties to the consumer’s detriment. The Director General of Fair Trading must consider any complaint made to him about the fairness of any contract term drawn up for general use The Regulations apply generally and so affect all insurance contracts with private individuals, but terms defining the product are not covered. This means that an insurer can limit the cover by including an excess. Other insurance terms may be deemed unfair.