AVERAGE n.
e accident; and it is borne by the individual owners of the articles damaged, or by their insurers. -- Petty averages are sundry small charges, which occur regularly, and are necessarily defrayed by the master in the usual course of a voyage; such as port charges, common pilotage, and the like, which formerly were, an…
DEL CREDERE n.
commission (called a del credere commission), engages, when he sells goods on credit, to insure, warrant, or guarantee to his principal the solvency of the purchaser, the engagement of the factor being to pay the debt himself if it is not punctually discharged by the buyer when it becomes due.
DEVIATION n.
eparture of a ship from, or delay in, the regular and usual course of the specific voyage insured, thus releasing the underwriters from their responsibility. Deviation of a falling body (Physics), that deviation from a strictly vertical line of descent which occurs in a body falling freely, in consequence of the rotati…