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B02975 Anno 43. Elizabethæ Reginæ. Chap XII. Commissions awarded to hear and determine policies of assurances made among merchants, and the commissioners authority England and Wales. Parliament. 1680 (1680) Wing E1283A; ESTC R175074 4,909 5

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Anno 43. Elizabethae Reginae CHAP. XII Commissions awarded to hear and determine Policies of Assurances made among Merchants and the Commissioners Authority WHereas it ever hath been the Policy of this Realm by all good means to comfort and encourage the Merchant thereby to advance and increase the general Wealth of the Realm Her Majesties Customs and the strength of Shipping which Consideration is now the more requisite because Trade and Traffick is not at this present so open as at other times it hath been And whereas it hath been time out of mind an usage amongst Merchants both of this Realm and of Forein Nations when they make any great Adventure especially into remote parts to give some consideration of Money to other persons which commonly are in no small number to have from them Assurance made of their Goods Merchandize Ships and things adventured or some part thereof at such rates and in such sort as the parties Assurers and the parties Assured can agree which course of dealing is commonly termed A Policy of Assurance By means of which Policies of Assurance it cometh to pass upon the loss or perishing of any Ship there followeth not the undoing of any man but the Loss lighteth rather easily upon many than heavily upon few and rather upon them that adventure not than those that do adventure whereby all Merchants especially of the younger sort are allured to venture more willingly and more freely And wheras heretofore such Assures have used to stand so justly and precisely upon their Credits as few or no Controversies have risen thereupon and if any have grown the same have from time to time been ended and ordered by certain grave and discreet Merchants appointed by the Lord Major of the City of London as men by reason of their Experience fittest to understand and speedily to decide those Causes until of late years that divers persons have withdrawn themselves from that Arbitrary course and have sought to draw the parties Assured to seek their Moneys of every several Assurer by Suits commenced in Her Majesties Courts to their great charges and delays For remedy whereof be it Enacted by the Authority of this present Parliament That it shall and may be lawful for the Lord Chancellor or Lord Keeper of the Great Seal of England for the time being to award forth under the Great Seal of England one general or standing Commission to be renewed yearly at the least and otherwise so oft as unto the said Lord Chancellor or Lord Keeper shall seem good for the hearing and determining of Causes arising and Policies of Assurances such as now are or hereafter shall be entered within the Office of Assurances within the City of London and whereof no Suit shall be depending the last day of this Session of Parliament in any of Her Majesties Courts Which Commission shall be directed to the Judge of the Admiralty for the time being the Recorder of London for the time being two Doctors of the Civil Law and two Common Lawyers and eight grave and discreet Merchants or to any five of them Which Commissioners or the greater part of them which shall sit and meet shall have by vertue of this present Act full Power and Authority to hear examine order and decree all and every such Cause and Causes concerning Polices of Assurances in a brief and summary course as to their discretion shall seem meet without Formalities of Pleadings or Proceedings And be it further Enacted by the Authority aforesaid That it shall be lawful for the said Commissioners as well to warn any of the Parties to come before them as also to examine upon Oath any Witness that shall be produced and to commit to prison without Bail or Mainprise any person that shall wilfully contemn or disobay their final Orders or Decrees And that the said Commissioners shall once every week at the least meet and sit upon the Execution of the said Commission in the Office of the Assurances or in some other convenient publick place by them to be Assigned And that no person by vertue of this Act may claim or exact any Fee for any matter or cause concerning the Execution of the said Commission And be it further Enacted by the Authority aforesaid That if any person shall be grieved by Sentence or Decree of the said Commissioners that such person so grieved may at any time within two Months of the said Decree so made exhibit his Bill into the High Court of Chancery for the re-examination of such Decree so as every person complainant before he shall exhibit any such Bill do either execute and satisfie the said Sentence so awarded or at least lay down in deposito with the said Commissioners such Sums of Money as he shall be awarded to pay and that upon so doing the said Complainant shall be enlarged of his Imprisonment And that the Lord Chancellor or Lord Keeper for the time being shall have full Power and Authority by vertue of this Act upon every complaint made in order as aforesaid to reverse or affirm every such Sentence or Decree according to equity and conscience And that the said Lord Chancellor or Lord Keeper in every Suit brought before him as aforesaid by such Assurers and Decreed against the said Assurers shall award double costs to the party assured Provided nevertheless That no Commissioner shall intermeddle in the Execution of any such Commission in any cause or matter of Assurance where himself shall be either a party Assurer or Assured in the same Assurance which is brought in question Nor that any Commissioner other than the said Judge of the Admiralty and the Recorder of London shall deal or proceed in the Execution of any such Commission before he have taken his corporal Oath before the Lord Major and Court of Aldermen of the City of London to proceed uprightly and indifferently between party and party Anno 14. Caroli II. Regis An Additional Act concerning matters of Assurances used amongst Merchants WHereas by an Act of Parliament made in the three and fortieth Year of the Reign of Queen Elizabeth of happy Memory Entituled An Act concerning matters of Assurances used amongst Merchants the Parliament then taking into consideration by all good means to comfort and encourage the Merchants of this Kingdom thereby to advance and increase the Wealth of this Realm Her Majesties Customs and the strength of Shipping and for preventing of divers mischiefs in the said Act mentioned it was Enacted That it should and might be lawful for the Lord Chancellor or Lord Keeper of the Great Seal of England for the time being to award forth under the Great Seal of England one general or standing Commission to be renewed yearly at the least and otherwise so often as unto the Lord Chancellor or Lord Keeper should seem meet for the hearing and determing of Causes arising on Polices of Assurance such as then were or then after should be entered within the Office of Assurance of the