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Simple English definitions for legal terms

general-average contribution

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A quick definition of general-average contribution:

A general-average contribution is when everyone involved in a commercial voyage, whether it's the ship or the cargo, shares the cost of a loss that benefits everyone. This happens when there is an intentional sacrifice of part of the ship or cargo to avoid total loss. It's an ancient principle of maritime law that is fair and equitable for all parties involved.

A more thorough explanation:

Definition: General-average contribution is a term used in maritime law to refer to a contribution made by all parties involved in a commercial voyage, whether for the vessel or cargo, towards a loss sustained by some of the parties for the benefit of all. It is also known as gross average or general-average contribution.

Examples: If a ship is in danger of sinking, the captain may decide to intentionally sacrifice some of the cargo to save the rest of the ship and its remaining cargo. In this case, the loss is considered a general average loss, and all parties involved in the voyage, including the ship owner, cargo owner, and insurers, must contribute to cover the cost of the loss. This contribution is known as a general-average contribution.

Another example of general-average contribution is when a ship is stranded and needs to be refloated. The cost of refloating the ship is considered a general average loss, and all parties involved in the voyage must contribute to cover the cost.

Explanation: General-average contribution is a way to distribute the cost of a loss or expense among all parties involved in a commercial voyage. This ensures that the burden of the loss is shared fairly among all parties, rather than falling solely on the party that suffered the loss. The examples illustrate how general-average contribution works in practice and how it can be applied in different situations.

general average | general average loss

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Trismegistus
11:52
does penn call or update to portal/ email?
cumsock
11:52
@Trismegistus: cus how does not getting into the best school in the country and "settling" for one of the most prestigious schools in vandy help anyone realistically
@Trismegistus: ^^^^
11:52
p sure they call
cumsock
11:52
ig it only helps people who are ab to jump off a bridge if they dont get into YLS
Trismegistus
11:53
@cumsock: yeah, im not sure really, i think it's just that, life is what you make it, peace with your fate once it happens? idk, i agree with you though
HopefullyInLawSchool
11:53
Another day another dollar
@cumsock: yeah lmao guy is such a prick, my bad i had to settle for vandy
lilypadfrog
11:54
he is a terrible writer. his personal writing blog is shockingly bad
@lilypadfrog: are there flowers on your lily pad?
11:55
how was your first day of classes @knowledge
@KnowledgeableRitzyWasp: what are legit side hustles you have seen people do in LS?
lilypadfrog
11:56
LSAT tutoring
That is not an option for me lmao
lilypadfrog
11:57
@KnowledgeableRitzyWasp: yeah there are a couple thanks for asking
HopefullyInLawSchool
11:57
Guys this UPenn wave looks fake
11:57
I genuinely hate places that call because it turns things into a day-long stress instead of just being like oop I didn't get an email oh well
Trismegistus
11:58
how does it look fake
pleasepleasepleas
11:58
does Michigan call or email?
TackyProudYogurt
11:58
I have missed every A call I have received because I have a job and they all call at like 11 am
Trismegistus
11:58
what an excellent problem to have
am I being dumb to even think I have a chance at penn
should I just give up hope now
11:59
i tutored for the lsat in college lol, i went to a rich people school so the parents were happy to shell out money to a kid who didnt even have an official score yet
12:00
you have a great shot bulldog
the R's are killing any confidence I had
12:01
reddit says penn is calling, also same the umich r that early was disheartening
wonder what cornblatt is doing rn
lilypadfrog
12:01
stroking it
PuppyBot
12:01
lmaooo
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