What is GROSS AVERAGE?

In maritime law. A contribution made by the owners of a ship, its cargo, and the freight, towards the loss sustained by the voluntary and necessary sacrifice of property for the common safety, in proportion to their respective interests. More commonly called “general average,” (5. v.) See 3 Kent, Comm. 232; 2 Steph. Comm. 179. Wilson v. Cross, 33 Cal. 09.

More On This Topic



Link to This Definition
Did you find this definition of GROSS AVERAGE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary