Warning

Info

LSDefine

Simple English definitions for legal terms

general-average contribution

Read a random definition: de minimis non curat lex

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

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
hi everyone! I've been in DC for the past days. Anybody else get a WashU interview?
14:20
oh I already took it lol
14:20
i’m going to nyc to hang out today
ahh thought you took it today
how do you feel it went?
14:54
@RollTide316: I will be an October test taker.
manifestmoreadmissions
15:10
wait is glove taking their test today
manifestmoreadmissions
15:11
manifesting the easiest most stellar and almost fun questions for glove (and everyone else)
Nel folks that could be a 147 i just put up
manifestmoreadmissions
15:14
its a 180 trust
manifestmoreadmissions
15:14
but i know the feeling
manifestmoreadmissions
15:15
its gonna be so good its already so good
manifesting a “it’s gonna be so good” for glove
i paid for the secret extra special same day score preview for gloves lsat and i just read the score and it says “10 points over your highest pt” in the score band
Holy sheeet huge if true wasp
was this lsat weekend?
18:15
Yeah
AssortedTiredKingfisher
18:37
yuh
19:24
the movie 弟弟 is so good. movie of the summer
19:39
I watched the trailer and it reminded me of Ladybird. I think I will pass but if I'm 5-10 years from now people are still talking about it, I will give it a shot.
19:39
Right now with Asian cinema I am stuck in the Zatoichi series.
19:40
In*
20:15
it’s a pretty standard coming of age movie but i found it really funny and it was nice for me to watch a movie in chinese
20:15
now that i’m not in school i never get to practice my chinese anymore
LSD+ is ad-free, with DMs, discounts, case briefs & more.