general average contribution


general average contribution
See general average.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • general average contribution — The amount of money paid by each shipper involved in a general average. Bloomberg Financial Dictionary * * * general average contribution general average contribution ➔ contribution * * * general average contribution UK US noun [C] INSURANCE, LAW …   Financial and business terms

  • general average contribution — Such arises from an ancient maritime doctrine making all participants in a maritime venture ratably responsible for losses incurred for their common good. Atlantic Richfield Co. v. U.S., C.A.Tex., 640 F.2d 759, 764. Contribution by all parties in …   Black's law dictionary

  • general average contribution — Such arises from an ancient maritime doctrine making all participants in a maritime venture ratably responsible for losses incurred for their common good. Atlantic Richfield Co. v. U.S., C.A.Tex., 640 F.2d 759, 764. Contribution by all parties in …   Black's law dictionary

  • general average bond — Type of bond required by master of ship as security for general average contribution before master delivers the cargo …   Black's law dictionary

  • general average loss — Loss at sea commonly sustained when cargo is thrown overboard to save ship. Such loss is generally shared by shipowner and owners of cargo. See general average contribution jettison …   Black's law dictionary

  • general average bond — Type of bond required by master of ship as security for general average contribution before master delivers the cargo …   Black's law dictionary

  • general average loss — Loss at sea commonly sustained when cargo is thrown overboard to save ship. Such loss is generally shared by shipowner and owners of cargo. See general average contribution jettison …   Black's law dictionary

  • General average/New version — Average in maritime commerce to signify damages orexpenses resulting from the accidents of navigation. Average is either general or particular. General average arises when sacrifices have been made, or expenditures incurred, for the preservation… …   Wikipedia

  • General average — Average Av er*age, n. [OF. average, LL. averagium, prob. fr. OF. aver, F. avoir, property, horses, cattle, etc.; prop. infin., to have, from L. habere to have. Cf. F. av[ e]rage small cattle, and avarie (perh. of different origin) damage to ship… …   The Collaborative International Dictionary of English

  • general average — A contribution by all the parties in a sea adventure to make good the loss sustained by one of their number on account of sacrifices voluntary made of part of the ship or cargo to save the residue and the lives of those on board from an impending …   Ballentine's law dictionary


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