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Simple English definitions for legal terms
jactura
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A quick definition of jactura:
Term: jactura
Definition: Jactura is a legal term that refers to throwing goods overboard from a ship to lighten the load or save the vessel. This action is called jettison. Jactura also refers to the loss incurred from this action, which is known as general average. In simpler terms, jactura means getting rid of things from a ship to make it lighter and safer, but it can also mean losing those things and having to share the cost of that loss with others.
A more thorough explanation:
Jactura is a legal term that refers to the act of throwing goods overboard from a ship to lighten the load or save the vessel. This is also known as jettison. The loss incurred from this action is called general average.
For example, if a ship is in danger of sinking due to excess weight, the crew may decide to jettison some of the cargo to save the ship and the rest of the goods. The value of the jettisoned goods is then shared among all parties involved in the voyage, including the ship owner, cargo owners, and insurers. This is known as general average.