What is general average ?



388 Views | Rishi Kashyap | ANSWER |
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A general average situation occurs when there is an extra ordinary sacrifice or expenditure resulting from an intentional act which is reasonably made for the common safety of  ship, cargo and freight. in situation of peril, for the safety of maritime adventure,

Apu Piplai | | EDIT | REPLY

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As per york Antwerp Rules 1994 "There is a general average act when and only when, any extraordinary sacrifice or expenditure is intentionally or resonably made or incurred for the common safety for the purpose of preventing from peril the property involves in a common maritime adventure"

Amit Sahrawat | | EDIT | REPLY
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latest addition to ya rules 2004 numbered rule 23 is the time bar

Jibin Joseph | | EDIT | REPLY

tags  MMD / MCA ORALS MASTER EXAM
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