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Also found in: Medical, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.26 sec. |
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AVERAGE. A term used in commerce to signify a contribution made by the
owners of the ship, freight and goods, on board, in proportion to their
respective interests, towards any particular loss or expense sustained for
the general safety of the ship and cargo; to the end that the particular
loser may not be a greater sufferer than the owner of the ship and the other
owners of goods on board. Marsh. Ins. B. 1, c. 12, s. 7; Code de Com. art.
397; 2 Hov. Supp. to Ves. jr. 407; Poth. Aver. art. Prel.
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Chimera has seconded Alexander
Anderson as company secretary to Pegasus to assist with the
restructuring from a development company -- Grade Point Adverage Inc. |
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