Indemnification Quotes (2 quotes)
In former times, … when ships buffeted by storms threw a portion of their cargo overboard, it was recognized that those whose goods were sacrificed had a claim in equity to indemnification at the expense of those whose goods were safely delivered. The value of the lost goods was paid for by agreement between all those whose merchandise had been in the same ship. This sea damage to cargo in transit was known as “havaria” and the word came naturally to be applied to the compensation money which each individual was called upon to pay. From this Latin word derives our modern word average.
Sir Hiram Maxim is a genuine and typical example of the man of science, romantic, excitable, full of real but somewhat obvious poetry, a little hazy in logic and philosophy, but full of hearty enthusiasm and an honorable simplicity. He is, as he expresses it, “an old and trained engineer,” and is like all of the old and trained engineers I have happened to come across, a man who indemnifies himself for the superhuman or inhuman concentration required for physical science by a vague and dangerous romanticism about everything else.