(The law of) General average is a legal principal of maritime law according to which all parties in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or fleet to save the whole in an emergency.
The first codification of general average was the York Antwerp Rules of 1890. American accepted it in 1949.
General average traces its origins in ancient maritime law and is still part of the admiralty law of most countries. General average requires three elements which are clearly stated by Mr. Justice Grier in Barnard v. Adams:
See also:
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"General average".
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