book warranty


book warranty
A warranty in an insurance policy covering a stock of goods and merchandise against loss by fire, windstorm, burglary, or theft, that the insured shall make and keep inventories and books of account, which shall be kept in a fireproof safe or other secure place, and that the insured shall, upon demand, produce such books and inventories for the inspection of the insurer. 29A Am 3 Rev ed Ins § 939. Such a provision is often referred to as an iron safe clause. Anno: 33 ALR2d 619; 29A Am J Rev ed Ins § 939.

Ballentine's law dictionary. . 1998.

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