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..
The law of war (LOW) is âthat part of international law that regulates the conduct of armed hostilities.â 1 . It is often termed the law of armed conflict (LOAC) and sometimes called international humanitarian law (IHL). The LOAC encompasses all international law for the conduct of hostilities binding on the United States or its individual