pair-or-set clause

noun

Legal Definition of pair-or-set clause

: a provision in an insurance policy giving the insurer the option in the case of loss of fewer than all items in a set to restore the set to its value before the loss or pay the difference between the value before and after the loss

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“Pair-or-set clause.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/pair-or-set%20clause. Accessed 19 Jan. 2021.

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