At the time a payment is made that represents a prepayment of an expense, a prepaid account such as Prepaid Insurance is debited and the Cash account is credited. This records the prepayment as an asset on the companyâs balance sheet.
English and American cases dealing with the insurance meaning of war have defined it in accordance with the ancient international law definition: war refers to and includes only hostilities carried on by entities that constitute governments at least de facto in character..
International law is the set of rules generally regarded and accepted as binding in relations between states and between nations.It serves as a framework for the practice of stable and organized international relations. Public international law, which governs the relationship between states and international entities. 2  It includes these legal fields: treaty law, law of sea, international criminal law, the laws of war or international humanitarian law, international human rights law, and refugee law.