Notice of Death.-In life insurance the company generally requires immediate notice of death and due proof that the person insured is dead.

MARINE INSURANCE.

Marine insurance is a contract by which the insurer agrees to indemnify the insured against certain perils or risks to which his ships, cargo, and profits may be exposed during a certain trip or during a specified time.

Effect of Fraud.-The requirement of good faith between the parties is even greater in marine insurance than in any other branch of insurance. The reason for this is that the insured has every opportunity to know all of the facts and the insurer but limited opportunity to determine them. A concealment or misrepresentation of a material fact either innocently or fraudulently avoids the contract.

Warranty. A warranty, as in fire insurance, must be strictly performed. In marine insurance there are three implied warranties which are understood in every contract. They are in respect to seaworthiness, deviation, and legality. Seaworthiness is the condition of a ship when reasonably fit to perform the services and encounter the ordinary perils incident to the voyage. The second implied warranty is that there shall be no voluntary deviation or departure from the course fixed by mercantile usage, for the voyage contemplated by the policy; and also that there shall be no unreasonable delay in commencing or making the voyage. The third implied warranty is that the voyage shall be legal, both in its nature and in the manner in which it is prosecuted. Smuggling voyages and trading trips to an enemy's port are cases of illegal voyage.

Losses. The loss may be total, in which case the whole insurance is ordinarily recoverable; or it may be partial, and then only a pro rata part can be recovered.

CASUALTY INSURANCE.

Casualty insurance is an indemnity against loss resulting from bodily injury or the destruction of certain kinds of property. It may be accident insurance, which

is an indemnity against personal injury by accident, or it may be one of the numerous classes of insurance that have sprung up within the past few years, granting indemnity against almost every conceivable form of catastrophe. Among these special forms of casualty insurance may be mentioned plate glass, boiler, tornado, employer's liability, fidelity, credit, and title insurance. Accident Insurance.-Accident insurance is a branch of life insurance, the latter insuring against death by any cause, while the former insures against death or injury caused by accident. This class of insurance usually provides a certain payment in case of accidental death, a weekly indemnity for either permanent or total disability by reason of accident, and a fixed sum for such permanent injury as the loss of one or both of the hands, feet, or eyes. An accident in this sense is an unforeseen event which results in injury to one's person.

Fidelity Insurance.-Fidelity or guaranty insurance is a contract by which an employer is insured against loss by the fraud or dishonesty of his employees, being a guarantee of the honesty of an employee. Fidelity insurance companies also issue bonds guaranteeing the faithful performance of contracts, as those executed by persons holding places of trust.

Credit Insurance.-Credit insurance protects merchants and tradesmen from loss through the insolvency or dishonesty of their customers. For a certain premium the insurance company guarantees the merchant against bad debts. The merchants must usually bear a certain small per cent, and all losses over that amount are paid by the insurance company.

Title Insurance.-Title insurance is a guaranty to the owner of real property that his title is clear. It is an insurance against defects in the title to the property insured, and in case of loss by reason of liens or incumbrances prior to the interest of the insured, the company indemnifies him.

Plate Glass Insurance.-Plate glass insurance is another branch of casualty insurance frequently employed, the premium being based upon the cost price of the windows.

Elevator Insurance.-Elevator insurance consists of a contract which covers the risk incidental to the use of elevators, including both the damage to the elevators themselves and to persons or property that may be injured by the use of, or by accident occurring to, such elevators.

Steam Boiler Insurance. This insurance covers injury to property or persons by reason of the explosion of steam boilers.

LANDLORD AND TENANT

Leases. By the statute of frauds in most states the lease must be in writing, if for a longer time than one year. Generally, if for one year or less it may be made orally, and this is true even though the term is to commence at a date in the future. In a few states leases can be made for only a limited number of years, while in others a lease for more than a certain number of years must be recorded.

Covenants. Aside from the above provision, any further agreement between the parties may be incorporated in the writing. A lease is but a contract, and the full agreement of the parties should be set forth. Frequently the following covenant is inserted: "The party of the second part hereby covenants not to sublet said premises, or any portion thereof, without the written consent of said party of the first part."

Term. The term of the lease is the time for which it is to run. If the tenant has been in possession under a lease for one or more years, and he retains possession without executing a new lease, he is presumed, in the absence of some agreement, to be a tenant from year to year, which means that his term after the expiration of the lease is one year, and if he remains in possession after the next year he is a tenant for another year.

Express and Implied Covenants. The covenants contained in a lease are either expressed or implied. The implied covenants exist whether they are mentioned or not; the express covenants must be included in the express conditions of the lease, and may be many or few. The implied covenants, on the part of the lessor, are

those regarding quiet enjoyment and the payment of taxes. The usual words of grant in a lease are "demise and lease," or "grant and demise," these words being said to import a covenant of quiet enjoyment. This covenant is broken when the tenant is evicted by some one who has a paramount title. The landlord also impliedly covenants that he will pay all taxes assessed against the premises during the term. There is no implied covenant on the part of the lessor, or landlord, that the premises are in a tenantable condition. On the part of the lessee, or tenant, there is an implied covenant that he shall pay the rent stipulated for; and, although no sum is specified in the lease, the tenant must pay a reasonable rent, unless it appears that it was the intention of the parties that none was to be paid. The lessee also impliedly to keep the premises in ordinary repair.

Rights and Liabilities Under a Lease.-Aside from the covenants in a lease there are certain rights and liabilities which arise from the relation of landlord and tenant. In the absence of an agreement to the contrary the tenant is entitled to the exclusive possession of the premises. He is liable for waste and is estopped from denying his landlord's title; that is, the tenant cannot for any purpose claim that the premises do not belong to his landlord. The landlord is under no obligation to repair unless the lease expressly binds him to such duty. And he is entitled to the fixtures annexed to and made a part of the realty.

Assigning or Subletting of Lease.-Unless the tenant is restrained by an express covenant against subletting or assigning, he may assign or sublet his lease without the consent of the landlord. If the interest granted by the lessee is for a shorter time or for rights inferior to those granted in his own lease, it is a sublease.

Eviction. At the expiration of the lease the landlord is entitled to the possession of the premises, and if the tenant does not surrender them, the landlord may institute proceedings to evict him. The statutes in the different states provide the procedure by which the tenant holding over after his lease has expired may be evicted on short notice. This is termed "summary proceedings." This form of procedure is also provided by

statute for the eviction of the tenant when he does not

pay his rent. Where the tenancy is not for any fixed period, but is a tenancy from year to year or month to month, it cannot be terminated by either party except. by notice. Under the common law a tenancy from year to year could be terminated by notice six months before the expiration of the period, and in the case of a tenancy for a shorter period, as from month to month, by a notice equal to the length of the period. Until this notice has been given, the landlord cannot evict the tenant, and until the tenant has given a like notice to the landlord, he is liable to be held for the rent unless the landlord accepts his surrender of the premises. The statutes in the different states have in many instances changed the common law rule and a shorter notice is rendered sufficient.

CARRIERS

A carrier is a person or company that undertakes to carry, or makes a business of carrying, persons or goods for hire. They may be either private, or public or common, carriers. A private carrier is one who carries only occasionally and not as a public business or employment. Such a carrier is not bound to serve all who offer to employ him. He is liable for negligence in transporting the goods, but is held only to the exercise of ordinary diligence. Public or common carriers are those whose regular business it is to carry goods from place to place for all persons who choose to employ and remunerate them, such as railroad, express, and steamship companies. They may be carriers of passengers or carriers of goods, but it is to the last-named class that the term is usually applied. To constitute one a common carrier, he must have held himself out to the public as ready to carry, for hire, as a business, goods of the sort he professes to carry.

DUTIES OF COMMON CARRIERS.

Goods and Payment for Carriage.-Common carriers are said to be carriers of "goods," and this term includes animals, money, and in fact any article of per