This article on Average was published under the terms of the Creative Commons Attribution 3.0 (CC BY 3.0) license, which allows unrestricted use and duplication, provided that the author(s) of the Average entry and the Lawi platform are credited as the source of the Average entry. Please note that this CC BY license applies to certain textual content from Average and that certain images and other textual or non-textual elements may be covered by special copyright regulations. Instructions on how to cite Average (including attribution under the CC BY license) can be found below in our “Cite this entry” recommendation. In this legal dictionary, the average legal term is a kind of maritime law class. In the context of English law, A Dictionary of Law proposes the following legal concept of average: The law of averages is the generally accepted assumption that a particular outcome or event will occur over certain periods of time with a frequency similar to its probability.   Depending on the context or application, it may be considered a valid observation of common sense or a misunderstanding of probability. This idea can lead to the player`s mistake when he is convinced that a certain result must happen soon simply because it has not happened recently (for example, believing that because three consecutive coin tosses have yielded heads, the next coin toss must be practically guaranteed tail). Asian Law, “Average” (legaldictionary.lawin.org 2018) joined on October 3, 2022 A medium, an average share. In the old English law. A service on horseback or carriage, which in ancient times was owed by a tenant to his master.
Cowell. Work or service performed with cattle, horses or working oxen, or with wagons and carriages. Spelman. Stubble or remnants of straw and grass left in cornfields after harvest. In Kent it is called “gratten” and in other parts “roughings”. In maritime law. Loss or damage to a ship or its cargo during a voyage. Also a small tax paid to shipmasters when goods are sent to another ship, for their care of the goods, beyond the cargo. In transport insurance.
If a ship or its cargo is lost or damaged at sea, the average is the adjustment and allocation of that loss among the owner, the cargo and the cargo in proportion to their respective interests and losses, so that the entire loss is not suffered, but contributes to each. These are the following types: the overall average (also known as “gross”) includes the expenses, sacrifices or intentional damage incurred for the common safety of the vulnerable ship, cargo and cargo, or both, and must be contributed by the various interests in proportion to their respective values exposed to the common risk. and ultimately survive, including the amount of costs, sacrifices or damages thus incurred in the value of the contribution. 2 Phil. Ins. f 1269 ff. 2 Steph. Comm. 179; Padelford v.
Boardman, 4 mass. 548. A particular average is a loss suffered by the ship, cargo or cargo, which is not intended to be distributed among all parties interested in a contribution, but must be borne by the owner of the object in which it occurs. It is therefore called in opposition to the general average. Bargett v. Insurance Co., 3 Bosw. (N.Y.) 395. Small average. In maritime law.
Term used to designate the fees and disbursements which the master necessarily makes available to the ship and the cargo, either at the place of loading or unloading, or during the voyage, according to the events and customs of each place; such as hiring a pilot to guide a ship from one place to another, towing, light money, beacons, anchorage, bridge tolls, quarantine and others. Park, Ins. 100. However, the information for this topic depends entirely on its use. Fig. Ship. 404. Simple average. Special average, (s.a.) Average costs.
`Average toll` means charges levied at an average rate obtained by dividing the total tolls and transport revenues by the total quantity of tonnage transported, reduced to a common standard of tonnes carried by one mile. Hersh v. Railway Co., 74 Pa. 190. Average prices. Those charged on all prices of items sold during a given period or quarter. Gross average. In maritime law. Contribution of the owners of a ship, its cargo and cargo to the losses caused by the voluntary and necessary sacrifice of property for the security of the common in relation to their respective interests. More commonly known as the “overall average” (s.a.) See 3 Kent, Comm. 232; 2 Steph. Comm.
179. Wilson v. Kreuz, 33 Kal. 69. In this example, we try to increase the probability that a rare event will occur at least once by performing more experiments. For example, a job seeker might argue, “If I send my resume to enough places, the law of average says someone will eventually hire me.” Assuming a non-zero probability, it is true that conducting more studies increases the overall probability of the desired outcome. However, there is no specific number of studies that guarantee this outcome; On the contrary, the probability that it has already happened, but never quite reaches 100%. You might be interested in the historical significance of this term. Research or average search in historical law in the Encyclopedia of Law. Subscribe to America`s largest dictionary and get thousands of other definitions and an advanced search – ad-free! The idea that probability affects all long-term events, that you won`t win or lose.