Particular Average - Law Dictionary Search Results
Home Dictionary Name: particular averageParticular average
Particular average. See AVERAGE (2) (b)....
Average
Average, a medium, a mean proportion used in various senses:-(1) A service which a tenant owes to his lord by doing work with his avers.(2) A shipping or insurance term. (a) Average, or more fully general average, is where any damage or loss has been properly and voluntarily incurred in respect of a ship or cargo for its safety, e.g., goods thrown overboard in a storm to lighten the ship. Such loss by maritime law is shared proportionately between the shipowners and the owners of the cargo, according to value. This risk is almost always covered by insurance. An Average Bond is a bond entered into by the consignees of a cargo with the shipowners, when a general average loss has been sustained by the ship, binding the former to pay their proportion as soon as ascertained. (b) Particular average is damage, or loss to a ship, or cargo, other than a general average loss. Such a loss rests where it falls, that is to say, is borne by the owner of the thing lost or damaged, or by his insurer, ...
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
average daily wage (adw)
average daily wage (adw) The ADW is a calculation of an injured employee's average daily earnings and is sometimes used to determine entitlement to wage loss benefits following an injury, particularly where the AWW would not be an accurate representation of the employee's earnings. ...
F.P.A
F.P.A., these letters in connection with marine policies mean 'free from particular average.' See AVERAGE....
statewide average weekly wage (saww)
statewide average weekly wage (saww) The statewide average weekly wage is a computation of average wages paid to workers in a jurisdiction for a set period of time and is generally used to calculate the minimum, and maximum, amounts of workers' compensation benefits that an injured employee will be entitled to receive. ...
Dow Jones Industrial Average
an index of certain stock prices on the New York Stock Exchange computed by the Dow Jones publishing company as a weighted average of the prices of the common stocks of 30 specific companies classified as industrial The Dow Jones Industrial Average is often taken as an indicator of the movement of American stock prices generally though other indices are maintained averaging the prices of other stocks and these often change in opposite directions from those of the DJIA...
Slugging average
a measure of the effectiveness of a batter at reaching base and advancing other runners calculated as the sum of the number of bases reached on each hit divided by the total number of times at bat A double counts two bases a triple three a home run four Thus a batter with four singles two doubles and a triple in 20 official times at bat would have a slugging average of 0550 and a batting average of 0350 Also called slugging percentage Compare batting average...
average weekly wage (aww)
average weekly wage (aww) The AWW is another method which may be utilized in calculating entitlement to wage loss benefits. The average earnings, by week, for a fixed period of time are calculated and wage loss benefits are computed according to that amount. ...
return on average common equity
return on average common equity net income available to common stockholders, as a percentage of average common stockholder equity. Source: U.S. Department of Housing and Urban Development ...
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