Differentiate between particular average and general average
What will be an ideal response?
Particular average is a loss to a ship or its cargo that is not to be shared in by contributions from all those interested, but is to be borne by the owner of the injured thing. General average is a contribution by those jointly involved in a maritime venture to make good the loss by one of them for his voluntary sacrifice of a part of the ship or cargo to save the residue of the property and the lives on board, or for the extraordinary expenses necessarily incurred for the benefit and safety of all.
You might also like to view...
Which of the following most accurately describes an annuity?
A) an investment which produces increasing cash flows over time B) a series of unequal cash payments made at equal time intervals C) a stream of equal cash payments made at equal time intervals D) a term that does not apply to mortgage payable or bond payable
When Kelsey starts to feel overwhelmed by everything she has to do, she tends to hunch her shoulders. When she realizes she is doing this, she works on letting go of all the tension in her body going from head to toe. Kelsey is managing stress through ______.
A. time management B. relaxation C. positive thinking D. exercise
Which statement regarding consumption taboos is incorrect?
a. Strict Muslims do not consume pork. b. Hindus do not eat any beef; the cow is considered sacred. c. Orthodox Jews eat only cattle or fowl that has been ritually slaughtered so that it is "kosher." d. U.S. persons do not eat horse meat because of religious taboos.
In the retail life cycle, ________ is the stage of emergence of a retail outlet, with a sharp departure from existing competition.
A. accelerated development B. maturity C. early growth D. introduction E. decline