Examlex
When majority rule voting is used to determine whether to purchase a public good,
Insured Premium
The amount paid periodically to an insurance company for coverage, which guarantees compensation for specific potential losses.
Event Occurs
A moment or situation that takes place, typically triggering a specific reaction or process in a legal, contractual, or social context.
State
A political entity that possesses sovereignty, characterized by a defined territory, permanent population, government, and capacity to enter into relations with other states.
Insurable Interest
A stake in an insured property or life that would cause a person to suffer financial loss if the property were damaged or if the insured person were injured or died.
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