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LSDefine

Simple English definitions for legal terms

general-average contribution

Read a random definition: notice of lis pendens

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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HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
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