Excerpt from The Documentary History of Insurance: 1000 B. C. 1875 A. D
Being well preserved and sound in mind, that if your ship, called the Santa Clara, which is now being prepared in the port of Genoa, God willing, to go and sail presently to Majorca, shall have gone and sailed, having been navi gated by direct route from the port of Genoa to Majorca, shall have arrived at that place safe and sound before the expiration of the next six months coming, then in that case the present instrument is null and void as if it had not been made. I personally assume all the risk and te sponsibility for said amount of money until said boat shall have arrived at Majorca, being navigated by direct route as above. And also if said boat shall be safe and sound in some other place, before said six months, the present instrument is likewise null and void as if it had not been made. And likewise if said boat shall have changed its course said instrument is null and void and as if it had not been made.
In said manner and under said conditions I promise to make said settlement, otherwise I promise to you to pay and incur the penalty of double the stipulated amount of said money together with restitution of damages and expenses which may arise on that account or be sustained in litigation, the aforesaid remaining secure under the pledge and security of my property, goods and possessions.
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