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With respect to insurance, the term "cession" is used most commonly in the context of reinsurance. In that context, a primary insurer is said to "cede" a portion of its direct risk (assumed from policyholders) to a reinsurer, in return for a reinsurance premium. In essence, the reinsurer is acting as the insurer for the insurer as to the business that is ceded.
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Explain briefly the consequences of personal rights When is cession not allowed?
Cession is the process by means of which the rights are transferred by one party (the cedent) to another (the cessionary). The effect of a cession is that the cedent substitutes the cessionary for himself in his capacity as creditor. But the cedent remains the debtor in terms of the contract as far as he has any duties under that contract. Generally, cession can take place without consent of, or even notice to, the debtor. But where the right is of so personal a nature that the debtor has substantial interest in making performance to one person only, then cession cannot validly take place without his consent. So , for example, employment contracts cannot be ceded without the employees consent. Also, the debtor has to consent where part of debt is ceded, or where the contract requires his consent. Civil servants' salaries cannot be ceded without the written permission of the accounting officer.
What rhymes with January?
1. abecedary 2. ablutionary 3. abolitionary 4. accessary 5. accretionary 6. accustomary 7. acetary 8. actuary 9. additionary 10. admaxillary 11. adversary 12. alary 13. alimentary 14. alveary 15. alveolary 16. ampullary 17. ancillary 18. angary 19. anniversary 20. annulary 21. antiphonary 22. antiquary 23. apiary 24. apocrisiary 25. apothecary 26. arbitrary 27. arborary 28. armamentary 29. armillary 30. articulary 31. ary 32. atrabiliary 33. auctionary 34. auxiliary 35. aviary 36. aweary 37. axillary 38. bacillary 39. balneary 40. barbary 41. bary 42. basilary 43. beggary 44. bellary 45. beneficiary 46. bestiary 47. bibliothecary 48. bicentenary 49. biliary 50. bimaxillary 51. bimillenary 52. binary 53. bleary 54. blomary 55. bloomary 56. boundary 57. breviary 58. briary 59. bronchopulmonary 60. budgetary 61. bullary 62. burglary 63. bursary 64. caducary 65. calamary 66. calculary 67. calgary 68. calvary 69. canary 70. capillary 71. capitulary 72. caravansary 73. cardiopulmonary 74. carpellary 75. cartulary 76. cary 77. cassowary 78. catenary 79. cautionary 80. cavitary 81. cemetary 82. centenary 83. cessionary 84. chartulary 85. chary 86. cheboksary 87. ciliary 88. cinerary 89. clary 90. cochleary 91. codicillary 92. collegatary 93. columbary 94. cometary 95. commendatary 96. commentary 97. commissary 98. complementary 99. complexionary 100. complimentary A hundred rhymes, and we're only up to the Cs! February, marry, fairy, Jerry, Mary, merry, berry, contrary. ...and Sanctuary!
