policy (redirected from policy year)

The general principles by which a government is guided in its management of public affairs, or the legislature in its measures. A general term used to describe all contracts of insurance.

As applied to a law, ordinance, or Rule of Law, the general purpose or tendency considered as directed to the welfare or prosperity of the state or community.

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policy (Contract), noun agreement, arrangement, contractual obligation, contractual statement, insurance contract, legal document, mutual agreement, mutual underraking, obligation, pact, schedule, understanding
Associated concepts: insurance policy

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policy (Plan of action), noun approach, consilium, course, course of action, course of conduct, doctrine, essablished order, fundamental principles, general guidelines, general principles, governing course of action, governing plan, governing principle, line, line of action, line of connuct, management, manner of proceeding, method, mode of management, party line, plan, plan of campaign, polity, prescribed form, principles, procedure, proposal, proposed action, proposition, rule of accion, scheme, stratagem, ways
Associated concepts: public policy

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See also: course, direction, guide, platform, polity, practice, principle, procedure, process, program, rule, scheme, strategy, system

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POLICY, PUBLIC. By public policy is meant that which the law encourages for the promotion of the public good.
     2. That which is against public policy is generally unlawful. For example, to restrain an individual from marrying, or from engaging in business, when the restraint is general, in the first case, to all persons, and, in the second, to all trades, business, or occupations. But if the restraint be only partial, as that Titius shall not marry Moevia, or that Caius shall not engage in a particular trade in a particular town or, place, the restraint is not against public policy,, and therefore valid. 1 Story, Eq. Jur. Sec. 274. See Newl. Contr. 472.