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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.
     2. Average is called general or gross average, because it falls generally upon the whole or gross amount of the ship, freight and cargo; and also to distinguish it from what is often though improperly termed particular average, but which in truth means a particular or partial, and not a general loss; or has no affinity to average properly so called. Besides these there are other small charges, called petty or accustomed averages; such as pilotage, towage, light-money, beaconage, anchorage, bridge toll, quarantine, river charges, signals, instructions, castle money, pier money, digging the ship out of the ice, and the like.
     3. A contribution upon general average can only be claimed in cases where, upon as much deliberate on and consultation between the captain and his officers as the occasion will admit of, it appears that the sacrifice at the time it was made, was absolutely and indispensably necessary for the preservation of the ship and cargo. To entitle the owner of the goods to an average contribution, the loss must evidently conduce to the preservation of the ship and the rest of the cargo; and it must appear that the ship and the rest of the cargo were in fact saved. Show. Ca. Parl. 20. See generally Code de Com. tit. 11 and 12; Park, Ins. c. 6; Marsh. Ins. B. 1, c. 12, s. 7 4 Mass. 548; 6 Mass. 125; 8 Mass. 467; 1 Caines' R. 196; 4 Dall. 459; 2 Binn. 547 4 Binn. 513; 2 Serg. & Rawle, 237, in note; 2 Serg. & Rawle, 229 3 Johns. Cas. 178; 1 Caines' R. 43; 2 Caines' R. 263; Id. 274; 8 Johns. R. 237, 2d edit 9 Johns. R. 9; 11 Johns. R 315 1 Caines' R. 573; 7 Johns R. 412; Wesk. Ins. tit. Average; 2 Barn. & Crest. 811 1 Rob. Adlm. Rep. 293; 2 New Rep. 378 18 Ves. 187; Lex. Mer. Armer. ch. 9; Bac Abr. Merchant, F; Vin. Abr. Contribution and' Average; Stev. on Av.; Ben. on Av.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
class="MsoNormalThe research concludes that mixed-use developments have higher returns compared to the market average at 7.
79% of Best Employer employees feel that they receive appropriate recognition for their contributions (25 points higher than market average).
Kuwaiti nationals, in many cases, are being paid 30 per cent above the market average, whereas expatriates are remunerated at mean
Re/Max said Days on Market average continues to fall in many markets due to very low inventory.
"This mechanism is tied to market prices and ensures we pay more than the UK market average."
But blue cars still languish below market average values, continuing to earn the trade''s disdain with the popular label of 'doom blue''.
Cull Ewes: Top pounds 116 to D & S Jenkins, Castell; General run pounds 55 to pounds 85 Rams: Top pounds 130 to D & S Jenkins, Castell; Market Average pounds 92 a head.
It reported a retail vacancy rate of below three per cent, compared to a market average of 12 per cent, and said footfall was up 2.6 per cent at its UK shopping centres, against a wider industry benchmark of 0.9 per cent.
The company expects a series of SPOs, with the price calculated as the 3-month market average. The money is slated for renovating grids in St Petersburg, with the main buyers likely to be MRKH (holds 50.3% in the gridco) and City of St Pete (25.2%).
This is 4% below the closing price of $34.5 on 20 December 2010 (the cut off date for buyout), and is 39% above the six-month market average of $23.9/GDR.