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How is Wrecked motor vehicle defined in a legal contract?

• Wrecked motor vehicle means a vehicle that is damaged, dismantled, or partially dismantled to the point where it can't operate under its own power, or significant parts like the wheels, engine, transmission have been removed. Seen in 1 SEC filing.
• Wrecked motor vehicle means any vehicle that has been damaged by a collision—either with another vehicle or a stationary object—resulting in bent, broken, or disconnected parts that render it unsafe or impossible to operate legally. Seen in 1 SEC filing.
• Wrecked motor vehicle means a vehicle that is damaged to the point that it can't be safely operated on the highway. Seen in 1 SEC filing.

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Wrecked motor vehicle means a vehicle significantly damaged or dismantled, unable to operate safely.

Relevant Contract Types

• Insurance Policies
• Vehicle Sale and Purchase Agreements
• Vehicle Leasing Contracts
• Junkyard Contracts

Relevant Circumstances

• Cases of vehicle accidents
• Disputes over vehicle damage
• Insurance claims for vehicle damage
• Transactions related to the sale or purchase of damaged vehicles

Relevant Sectors

• Insurance
• Automotive
• Legal
• Transportation and Logistics

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