{"id":11588,"date":"2017-12-26T04:07:22","date_gmt":"2017-12-26T04:07:22","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=11588"},"modified":"2017-12-26T04:08:14","modified_gmt":"2017-12-26T04:08:14","slug":"constructive-total-loss-such-serious-damage-to-the-insured-property-that-the-cost-of-repairs-would-exceed-the-value-of-the-thing-repaired-or-half-the-value-when-dealing-in-marine-underwriting","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=11588","title":{"rendered":"Constructive Total Loss – such serious damage to the insured property that the cost of repairs would exceed the value of the thing repaired, or half the value when dealing in marine underwriting"},"content":{"rendered":"

constructive total loss<\/span>:<\/span>
\n<\/strong>(1805)<\/span><\/p>\n

1. Such serious damage to the insured property that the cost of repairs would exceed the value of the thing repaired.<\/strong> \u2014 aka constructive loss<\/strong><\/em><\/span>. <\/span><\/p>\n

2.<\/strong> Marine underwriting<\/em>. According to the traditional American rule, such serious damage to the insured property that the cost of repairs would exceed half the value of the thing repaired.<\/strong> \u2014 Abbr. CTL<\/span><\/strong>. [1]<\/span><\/p>\n

1. A loss of such a character as to authorize the insured to abandon the property and recover as for a total loss, although there is not an absolute extinction of the subject of the insurance.\u00a0 29A Am J Rev ed Ins \u00a7 1571<\/span>.<\/strong> [2]<\/span><\/p>\n

References:<\/span><\/span><\/strong><\/p>\n

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[1]: Black’s Law Dictionary <\/a>Deluxe Tenth Edition<\/a><\/span><\/strong> by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4<\/span><\/strong><\/p>\n

[2]:\u00a0Ballantine\u2019s Law Dictionary\u00a0<\/a><\/span><\/strong>with Pronunciations<\/b><\/span><\/em>
\n<\/span><\/em><\/a>Third Edition<\/a>\u00a0by James A. Ballantine\u00a0<\/span><\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/span><\/em>Edited by William S. Anderson.\u00a0\u00a0\u00a9 1969 by THE LAWYER\u2019S CO-OPERATIVE PUBLISHING COMPANY.\u00a0 Library of Congress Catalog Card No. 68-30931<\/span><\/strong><\/p>\n

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