Cambridge English Dictionary: Precedent
"an action, situation or decision that has already happened and can be used as a reason why a similar action or decision should be performed or made"
What we see is an insurer protecting the interests of existing investors by not allowing a run on a fund. The run is caused by investors taking the view commercial property prices will fall as a result of lower economic activity.
1. Which is exactly what I showed by example with the Gibson humbucking pickup... Other companies then copied it. The humbucker priniciple was to use two single coil pickups attached opposite each other so that the 60 cycle hum from each one cancelled each other out. It worked, and the pickup that 'bucked the hum' was born.
2. So, has there never been a run on funds before? I'm sure you must know (I'm not being sarcastic here, just trying to recall what has happened in the past). Didn't that happen when the Fanny Mae (sp) etc. debacle happened several years ago? I thought there was a major run on the markets world-wide.