Hand-book of Marine Insurance and Average

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H. Spear, 1866 - Average (Maritime law) - 459 pages
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Page 459 - I have compared the preceding with the original law on file in this office, and do hereby certify that the same is a correct transcript therefrom, and of the whole of said original law. Given under my haud and the seal of office of the Secretary of State, at the City of Albany, this first day of May, in the year one thousand eight hundred and eighty-three.
Page 60 - ... the whole principal due or to grow due on the mortgage with interest, and shall thereupon receive a full assignment and transfer of the mortgage and of all such other securities; but no subrogation shall impair the right of the mortgagee (or trustee) to recover the full amount of claim.
Page 36 - ... the subject-matter, as by the known usage of trade, or the like, acquired a peculiar sense distinct from the popular sense of the same words; or unless the context evidently points out...
Page 408 - General average denotes that contribution which is made by all who are parties to the same adventure towards a loss arising out of extraordinary sacrifices made, or extraordinary expenses incurred by some of them for the common benefit of ship and cargo.
Page 459 - The said corporation shall possess the general powers, and be subject to the general restrictions and liabilities prescribed in the third title of the eighteenth chapter of the first part of the Revised Statutes.
Page 141 - A common danger ; a danger in which ship, cargo, and crew, all participate ; a danger imminent and apparently " inevitable," except by voluntarily incurring the loss of a portion of the whole to save the remainder.
Page 40 - Insurance Company shall be answerable only for so much as the amount of such prior insurance may be deficient towards fully covering the property hereby insured.
Page 182 - ... warranted by the assured free from average, unless general ; hemp, tobacco stems, matting and cassia, except in boxes, free from average under twenty per cent, unless general; and sugar, flax, flax-seed and bread, are warranted by the assured free from average under seven per cent, unless general...
Page 36 - ... as by the known usage of trade, or the like, acquired a peculiar sense, distinct from the popular sense of the same words ; or unless the context evidently points out that they must in the particular instance, and in order to effectuate the immediate intention of the parties to that contract, be understood in some other special and peculiar sense.
Page 376 - ... tacitly, if not expressly, assents to general average as a known maritime usage, which may, according to the events of the voyage, be either beneficial or disadvantageous to him. And, by assenting to general average, he must be understood to assent also to its adjustment...

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