AVERAGE n.
hich 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, and in some cases still are, borne partly by the ship and partly by the cargo. In the clause commonly found in bills of lading, "primage and average…
BOTTOMRY n.
or the repayment of money advanced or lent for the use of the ship, if she terminates her voyage successfully. If the ship is lost by perils of the sea, the lender loses the money; but if the ship arrives safe, he is to receive the money lent, with the interest or premium stipulated, although it may, and usually does,…
DEVIATION n.
ssary departure 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…