At the time a payment is made that represents a prepayment of an expense, a prepaid account such as Prepaid Insurance is debited and the Cash account is credited. This records the prepayment as an asset on the companyâs balance sheet.
English and American cases dealing with the insurance meaning of war have defined it in accordance with the ancient international law definition: war refers to and includes only hostilities carried on by entities that constitute governments at least de facto in character..
Name and Form. The Kellogg-Briand Pact, also known as the Pact of Paris, after the city where it was signed on August 27, 1928, was an international treaty providing for the renunciation of war as an instrument of national policy.. It failed in its purpose but was significant for later developments in international law.