PARTICULAR AVERAGE - Legal Dictionary
Terms lawyers use. Dictionary of terms from all areas of law.
| - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | |
|
New Definitions |
| PARTICULAR AVERAGE |
|
. This term, partipular average, has been condemned as not being exact. See Average. It denotes, in general, every kind of expense or damage, short of total loss which regards a particular concern, and which is to be borne by the proprietor of that concern alone. Between the insurer and insured, the term includes losses of this description, as far as the underwriter is liable. Particular average must not be understood as a total loss of a part; for these two kinds of losses are perfectly distinct from each other. A total loss of a part may be recovered, where a particular average would not be recoverable. See Stev. on Av. 77.
|
|
Additional comments :
|
|
|