KNOT

Posted on July 20, 2013July 20, 2013

A measurement of speed. One nautical mile per hour, a nautical mile measuring 6,080 feet.

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← JURISDICTION CLAUSE

DIRECT LOSS (OR DAMAGE)

A loss which is a direct consequence of a particular peril. Fire damage to a refrigerator would be a direct loss. Spoiling of food in the refrigerator as a result of the fire damage would be an indirect loss.