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Particular Average Loss

 
Law Encyclopedia: Particular Average Loss
This entry contains information applicable to United States law only.

In maritime law, damage sustained by a ship, cargo, or freight that is not recompensed by contribution from all interests in the venture but must be borne by the owner of the damaged property.

Particular average loss is the opposite of general average loss, which denotes contribution by the various interests engaged in a maritime undertaking to recoup the loss of one of them for the voluntary sacrifice of a portion of the ship or cargo in order to save the remaining property and the lives of those on board, or for extraordinary expenses necessarily incurred for the common benefit and safety of all.

See: admiralty and maritime law.

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Law Encyclopedia. West's Encyclopedia of American Law. Copyright © 1998 by The Gale Group, Inc. All rights reserved.  Read more