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..
The cases establish that war is a course of hostility engaged in by entities that have at least significant attributes of sovereignty. Under international law war is waged by states or state-like entities.... (W)ar (is) a contention between two or more States through their armed forces.here is no such context in the policy now under consideration. I can see no good reason for giving to the word war a meaning which excludes one type of war.. The right of making war belongs to nations only as a remedy against injustice. It is the offspring of unhappy necessity.