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a natural characteristic that causes some goods to be spoiled or become damaged, which insurance companies will not accept as a risk: The insurers denied any liability on the grounds that the damage was due to an inherent vice in the computer systems.
a natural characteristic that causes some goods to be spoiled or become damaged, which insurance companies will not accept as a risk: The insurers denied any liability on the grounds that the damage was due to an inherent vice in the computer systems.
Definition of "inherent vice". A potential defect in a product that could cause damage without external influence, often excluded from insurance policies. How to use "inherent vice" in a sentence.
Jul 10, 2024 · Inherent vice is generally referred to as any damage caused to cargo due to the inherent nature of the product as opposed to any damages inflicted on the goods by the carrier themselves. In other words, it’s damage done by internal causes rather than external ones.
Feb 29, 2024 · An inherent vice exclusion is an exclusion found primarily, though not exclusively, in marine insurance policies that exclude coverage for damage to property that is caused by some feature or aspect of the property itself.
Sep 15, 2011 · Generally, “inherent vice” implies that no external or extraneous peril caused the loss; rather, the loss or damage results from the internal composition of the property, or some aspect of the property that brings about its own destruction.
Inherent Vice is a novel by American author Thomas Pynchon, originally published on August 4, 2009. A darkly comic detective novel set in 1970s California, the plot follows sleuth Larry "Doc" Sportello whose ex-girlfriend asks him to investigate a scheme involving a prominent land developer.
An inherent defect in certain goods that makes them liable to damage. Some fibres, for example, are liable to rot during shipment. If a carrier or insurer of such goods has not been warned of the inherent vice, he will not be liable for damage resulting directly from the defect.
Aug 31, 2023 · inherent vice (usually uncountable, plural inherent vices) ( commercial law) An intrinsic shortcoming in an object, especially an object's in-built tendency to degrade, which adversely affects its evaluation, preservability, insurability, or acceptability to be transported by a shipper, and which usually limits the legal liability of those who ...
inherent vice Noun ( legal , business ) An intrinsic shortcoming in an object, especially an object's in-built tendency to degrade , which adversely affects its evaluation , preservability , insurability , or acceptability to be transported by a shipper , and which usually limits the legal liability of those who handle or care for it.
