A Practical Manual of Shipping Law by William Atkinson Oliver | NOOK Book (eBook) | Barnes & Noble
A Practical Manual of Shipping Law

A Practical Manual of Shipping Law

by William Atkinson Oliver
     
 
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1869 Excerpt: ...the purpose of traffic, but if it is sacrificed for the general benefit, it must be contributed for. VALUATION OF PROPERTY TO CONTRIBUTE. When the

Overview

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1869 Excerpt: ...the purpose of traffic, but if it is sacrificed for the general benefit, it must be contributed for. VALUATION OF PROPERTY TO CONTRIBUTE. When the contribution is to be made in consequence of voluntary sacrifices, the property saved contributes according to its value in the condition in which it is when it arrives at its destination; but in case of extraordinary expenditure the value to be taken is the value at the time the expenditure was made, because in that case the person incurring the outlay is entitled to be repaid at once, whether the property is ultimately saved or not The ship is to be valued according to her condition when she arrives at her destination. This value is arrived at by taking the original value of the ship when she sailed, and deducting from that the cost of provisions, &c, wear and tear, and any partial losses occurring before the general average loss. The freight is to be valued on similar principles at the amount actually received, less the cost of earning it Freight paid in advance does not contribute, because it was not at risk (unless by the terms of the charter the merchant is entitled to recover it back in case of loss, as to which see p. 83). The cargo is valued on a similar principle at the sum it is worth on its arrival at its destination, less all necessary expenses for freight, &c. But if the ship has to put back to her port of loading and the average is to be adjusted there, then the value is taken at the cost price of the goods, and the cost of putting them on board. EXAMPLE. The following example of the adjustment of a general average loss is taken from Abbot on Shipping. For the sake of an illustration, it is supposed that it became necessary in the Downs, to cut the cable of a ship; that she afterwards struc...

Product Details

ISBN-13:
2940026618385
Publisher:
J. Imray and Son
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
365 KB

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >