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general average


from the GNU version of the Collaborative International Dictionary of English

  • n. a contribution made, by all parties concerned in a sea adventure, toward a loss occasioned by the voluntary sacrifice of the property of some of the parties in interest for the benefit of all. It is called general average, because it falls upon the gross amount of ship, cargo, and freight at risk and saved by the sacrifice.
  • adj. See under Average, Court.


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