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..
war convention united definition. Traditionally, international law has defined very few crimes, proscribing only acts generally viewed as a serious threat to the interests of the international community as a whole or to its most fundamental values. For centuries piracy has been recognized as an international crime under customary international law.