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General Average (continued in v.13)

Published online by Cambridge University Press:  18 August 2016

Extract

In the month of June, 1862, after the meeting of the second International General Average Congress held in London, a committee was constituted, “for the purpose of establishing one uniform system of general average throughout the mercantile world,” The meeting of the council of the National Association for the Promotion of Social Science, held in York in the autumn of 1864, set apart three days for the consideration of this branch of jurisprudence; and the 26th of September and two following days were occupied with the discussion of the various disputed points connected with the subject, under the presidencies of Sir James Wilde and Sir Fitzroy Kelly. The last-named gentleman, in closing the sitting, in the course of his speech gave his opinion as to the course to be pursued in order to give the force of law to the amendments which had been proposed, with the view to promote the uniformity which is so desirable in connection with the adjustment of claims for general average. He considered that “in order to obtain a legislative sanction to the code which had just been completed, it would be advisable to obtain the distinct approval of the leading commercial bodies, particularly the Chambers of Commerce in the great towns; and to obtain, if possible, assurances on the part of the foreign Governments that they would be prepared to adopt the code upon its adoption in this country. …If possible, the code or rules should be made a Government measure; failing this, it should be entrusted to at least two independent members, one of whom must be a mercantile man, representing a mercantile constituency, and the other a lawyer of eminence; and that it would be desirable to go to work at once, while the public interest was alive to the measure.”

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1866

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References

page 351 note * Preface to Arnould, 1st edition.

page 352 note * “The positive contract of insurance is of many centuries later date than the implied contract of average.”—Grotius.

page 352 note † Cowell's Interpreter.

page 353 note * The common marine policy is a translation of the old Italian policy of the 15th century, introduced into England by the Lombards.

page 353 note † Stevens mentions that the ordinance of Copenhagen and Hamburgh included general average under this warranty. At the present time many of the new formsof policy used both at home and abroad specifically mention general ayerage among the risks enumerated, but this is quite a modern introduction.

page 353 note ‡ “The legitimate province of analogy is rather to silence objections than to establish truth.”— , Leechman's Logic, p. 172.Google Scholar

page 355 note * The question has been revived, as a subject of litigation, so recently as April, 1864.

page 357 note * We have good authority for saying that the prudent underwriter does not admit the clause “in and over all” without charging an extra premium.—ED. A. M.

page 359 note * Stevens, p. 17; 2nd edit.

page 359 note † It will be remembered, that in the hurricane which occurred in the Black Sea on the 14th November, 1854, when, in two hours, eleven of our transport fleet were wrecked and totally lost, and six dismasted off Balaclava, several of them, including the S. S. “Prince,” were lost by the entanglement of the wreck of their masts in their rudders, which caused them to lie exposed to the fury of the wind without any possibility of escape.