Excerpt from Green's Encyclopaedia of the Law of Scotland, Vol. 1: Abandoning to Banker's Lien Notice of abandonment need not be in writing, although it usually is so; nor does it require to be in any particular form; but there must be an unequivocal offer by the assured, to abandon to his underwriters the whole interest in the property covered by the policy. To be effectual, the notice must be given within a reasonable time after the assured has obtained certain and accurate information as to the nature of the damage. If the information be such as to disclose that the subject-matter of the insurance is in imminent danger of becoming and continuing a total loss, he must at once give notice of abandonment, unless there be some cogent reason to the contrary. If he delays doing so, he will lose his right altogether, even although he is able to prove beyond question that a constructive total loss has occurred. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.