What is ADJUSTMENT? Definition of ADJUSTMENT in Black's Law Dictionary
An arrangement; a settlement. Henry D. Davis Lumber Co. v. Pacific Lumber Agency, 220 P. 804, 805, 127 Wash. 198.
In the law of insurance, the adjustment of a loss is the ascertainment of its amount and the ratable distribution of it among those liable to pay it; the settling and as- certaining the amount of the indemnity which the assured, after all allowances and deductions made, is entitled to re- ceive under the policy, and fixing the proportion which each underwriter is liable to pay. Marsh.Ins. 4th Ed. 499; 2 Phil.Ins. §§ 1814, 1815; New York v. Insurance Co., 39 N.Y. 45, 100 Am. Dec. 400; Whipple v. Insurance Co., 11 R. I. 139.
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