law: Marine Insurance Act, 1963 
  2. Definitions
  In this Act, unless
  
  the context otherwise requires,-
  (a) "contract of
  
  marine insurance" means a contract of marine insurance as defined by
  
  section3;
  (b)
  
  "freight" includes the profit derivable by a ship-owner from the
  
  employment of his ship to carry his own goods or other movables, as well as
  
  freight payable by a third party, but does not include passage money;
  (c) "insurable
  
  property" means any ship, goods or other movables which are exposed to
  
  maritime perils;
  (d) "marine
  
  adventure" includes any adventure where-
  (i) any insurable
  
  property is exposed to maritime perils;
  (ii) the earnings or acquisition of any
  
  freight, passage money, commission, profit or other pecuniary benefit, or the
  
  security for any advances, loans, or disbursements is endangered by the
  
  exposure of insurable property to maritime perils;
  (iii) any liability to a third party may be
  
  incurred by the owner of, or other person interested in or responsible for,
  
  insurable property by reason of maritime perils;
  (e) "maritime
  
  perils" means the perils consequent on, or incidental to, the navigation
  
  of the sea, that is to say, perils, of the seas, fire, war perils pirates,
  
  rovers, thieves, captures, seizures, restraints and detainments of princes and
  
  peoples, jettisons, barratry and any other perils which are either of the like
  
  kind or may be designed by the policy;
  (f) "movables"
  
  means any movable tangible property, other than the ship, and includes money,
  
  valuable securities and other documents;
  (g) "policy"
  
  means a marine policy;
  (h) "ship"
  
  includes every description of vessel used in navigation;
  (i) "suit" includes
  
  counter-claim and set-off.