iron safe clause

iron safe clause
A provision, in a policy of insurance covering a stock of goods or merchandise, that the insured shall make and keep inventories and books of account which shall be kept in an iron or other fire proof safe, or other secure place, and that the insured shall, upon demand, produce such books and inventories for the inspection of the insurer, in default of which the policy shall be void. Diebold Safe & Lock Co. v Huston, 55 Kan 104, 39 P 1035; Westchester Fire Ins. Co. v Gray (Ky) 240 SW2d 825, 33 ALR2d 608.

Ballentine's law dictionary. . 1998.

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  • iron-safe clause — A clause in policies of fire insurance, requiring the insured to preserve his books and inventory in an iron or fireproof safe, or in some secure place not exposed to a fire which would destroy the building. This provision casts on the insured… …   Black's law dictionary

  • iron safe clause — noun : a clause in a fire insurance policy covering merchandise that requires inventory records to be kept in a fireproof safe …   Useful english dictionary

  • fireproof safe clause — Same as iron safe clause …   Ballentine's law dictionary

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