General Average
Legal Definition and Related Resources of General Average
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Meanings, Synonyms, Etymology, Translations and More
Meaning of General Average
See average.
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General Average in Historical Law
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Legal Abbreviations and Acronyms
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Related Legal Terms
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Mentioned in these terms
Average, F.g.a., Jason Clause, Particular Average.
General Average
General Average Act in Maritime Law
Note: There is more information on maritime/admiralty law here.
The following is a definition of General Average Act, produced by Tetley, in the context of admiralty law: [Fr."acte d'avarie commune"] [Translation of General Average in Spanish: "acto de avería común"] [Translation of General Average in Italian: "atto di avaria comune"] [Translation of General Average in German: "Gemeinschaftlicher Havarieakt"] - "There is a general average act when, and only when, any extraordinary sacrifice or expenditure is intentionally and reasonably made or incurred for the common safety for the purpose of preserving from peril the property involved in a common maritime adventure." (York/Antwerp Rules 1994, Rule A first para.; Marine Insurance Act, 1906 (U.K.) sect. 66(2); Tetley, M.C.C., 4 Ed., 2008 at pp. 1747-1808; see generally Tetley, Int'l. M. & A. L., 2003 Chap. 9, pp. 361-396).
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See Also
See average.
General Average in Admiralty Law
For information on general average in this context, see the entry on general average in the maritime law encyclopedia.
Meaning of General Average
In this law dictionary, the legal term general average is a kind of the Maritime law, Commercial law class.
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and publications valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
See Also
Shipping
Maritime law
Commercial law