The Abolishment of General Average
The Abolishment of General Average
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By abolishing the system this expense will be saved and in its place we may substitute a system which will make it unnecessary to study the subject.
Page nine I propose that all bills of ladinjg be endorsed to the effect that there shall be no claims by either party, for general average; that they each agree by the contract between the shipowner and the cargo owner, that there shall be no general average, and that all other references in the bills of lading regarding general average shall be el...iminated or be null and void; and as a start in this direction the following endorsement is suggested as one which would probably cover most cases: "ENDORSEMENT TO THE BILL OF LADING "Notwithstanding the terms and conditions of this bill of lading, it is hereby agreed between contracting parties (the shipowner on the one hand and the cargo owner on the other) that the owners of each and every interest hereby waive all claim for allowance or contribution or expenses of any nature whatsoever by or through general average or based upon the principles of general average or any adjustment of such nature; the essence and chief object of this agreement being to abolish the necessity and operation of general average or the principles thereof, and to substitute therefor, through the arranging of an all-interest marine insurance policy covering the entire venture, a simple and expeditious ascertainment of the amount of loss or damage to any interest insured, and the prompt payment by the assurers, each his own proportion, as signed on the policy, regardless of the interest to which the loss or damage has happened.
What to read after The Abolishment of General Average?
You can find similar books in the "Read Also" column, or choose other free books by Mahlon Clayton Harrison to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
By abolishing the system this expense will be saved and in its place we may substitute a system which will make it unnecessary to study the subject.
Page nine I propose that all bills of ladinjg be endorsed to the effect that there shall be no claims by either party, for general average; that they each agree by the contract between the shipowner and the cargo owner, that there shall be no general average, and that all other references in the bills of lading regarding general average shall be el...iminated or be null and void; and as a start in this direction the following endorsement is suggested as one which would probably cover most cases: "ENDORSEMENT TO THE BILL OF LADING "Notwithstanding the terms and conditions of this bill of lading, it is hereby agreed between contracting parties (the shipowner on the one hand and the cargo owner on the other) that the owners of each and every interest hereby waive all claim for allowance or contribution or expenses of any nature whatsoever by or through general average or based upon the principles of general average or any adjustment of such nature; the essence and chief object of this agreement being to abolish the necessity and operation of general average or the principles thereof, and to substitute therefor, through the arranging of an all-interest marine insurance policy covering the entire venture, a simple and expeditious ascertainment of the amount of loss or damage to any interest insured, and the prompt payment by the assurers, each his own proportion, as signed on the policy, regardless of the interest to which the loss or damage has happened.
What to read after The Abolishment of General Average?
You can find similar books in the "Read Also" column, or choose other free books by Mahlon Clayton Harrison to read onlineMoreLess
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