Loading ...
Sorry, an error occurred while loading the content.

Re: TERM: Vinkulace

Expand Messages
  • Michael
    ... I d be inclined to call that a loss payable clause a/k/a mortgagee clause, naming the manufacturer as the loss payee. It might even be a lender s
    Message 1 of 11 , Jul 12, 2007
    • 0 Attachment
      --- In Czechlist@yahoogroups.com, "Liz Spacilova" <spacils@...> wrote:
      > "pojisteni takto predcasne fyzicky vyzvednutzch vozidel s
      > **vinkulaci** ve prospech (manufacturer) a ve vysi dostatecne k
      > pokryti vozidel pred jejich uplnou uhradou"

      I'd be inclined to call that a "loss payable clause" a/k/a "mortgagee
      clause," naming the manufacturer as the loss payee. It might even be
      a "lender's loss payable clause," but it would take some further
      research to verify that. The main idea of any "loss payee"
      or "mortgagee" clause is that the money goes directly to the
      lender/mortgagee/creditor/secured party/etc. and does not go through
      the hands of the potentially dishonest or financially risky insured.
      The main question between the lender and non-lender types is what
      happens if the cars aren't lost due to an accident, but rather to the
      insured's own conduct.

      Yours having litigated
      two loss payee cases.
    • Liz Spacilova
      Thank you, Michael. That was very helpful and informative. As there really isn t any more to the sentence than that what I wrote, I will just stick with the
      Message 2 of 11 , Jul 13, 2007
      • 0 Attachment
        Thank you, Michael. That was very helpful and informative. As there
        really isn't any more to the sentence than that what I wrote, I will
        just stick with the "(manufacturer) named as the loss payee" option.

        Thanks everyone again,

        Liz

        > I'd be inclined to call that a "loss payable clause"
        a/k/a "mortgagee
        > clause," naming the manufacturer as the loss payee. It might even
        be
        > a "lender's loss payable clause," but it would take some further
        > research to verify that. The main idea of any "loss payee"
        > or "mortgagee" clause is that the money goes directly to the
        > lender/mortgagee/creditor/secured party/etc. and does not go
        through
        > the hands of the potentially dishonest or financially risky
        insured.
        > The main question between the lender and non-lender types is what
        > happens if the cars aren't lost due to an accident, but rather to
        the
        > insured's own conduct.
        >
        > Yours having litigated
        > two loss payee cases.
        >
      Your message has been successfully submitted and would be delivered to recipients shortly.