General Average - Law Dictionary Search Results
General average
Matched in: Term General average
Insurance
loss, to which the merchant and ship-owner are liable. There are two kinds of average--general and particular. (a) General average comprehends all loss arising out of a voluntary sacrifice of a part of either vessel or cargo, made … or cut away his masts, the loss is distributed over the value of the ship and cargo as general average. (b) Particular average comprehends all loss occasio-ned to ship, freight, and cargo, which has not been wholly or
Average
Matched in: Term Average
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F.G.A
F.G.A., these letters in connection with marine insurance mean 'free from general average.' They sometimes mean 'foreign general average,' and the precise meaning they denote must be gathered from; the context. … F.G.A., these letters in connection with marine insurance mean 'free from general average.' They sometimes mean 'foreign general average,' and the precise meaning they denote must be gathered from; the context. See AVERAGE (2).
York-Antwerp Rules
York-Antwerp Rules. Optional rules of practice on the subject of general average for the assistance of shipowners, merchants, underwriters and average-adjusters for insertion in bills of lading, charter-parties and policies
statewide average weekly wage (saww)
Matched in: Term statewide average weekly wage (saww)
Dow Jones Industrial Average
Matched in: Term Dow Jones Industrial Average
Passengers
relieving a vessel in distress, he is entitled to a corresponding reward. The goods of passengers contribute to general average. For definition of 'passenger' and 'passenger ship,' see (English) Merchant Shipping Act, 1894, s. 267, and (English) Merchant
Sue and labour clause
may be incurred by the assured or his agents to avert the loss. The clause does not cover general average losses and contributions and salvage charges, (English) Marine Insurance Act, 1906, s. 78 (2), and see Aitchison v.
Luxuries
List II means the activity of enjoyment of or Indulgence in that which is costly or which is generally recognised as being beyond the necessary requirements of an average member of society and not articles of luxury,
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