A term in marine insurance implying that the underwriters are liable to pay the amount insured on the property lost in the ship, but taking credit for what is saved.
·adj & ·noun <<Savage>>. II. Salvage ·noun That part of the property that survives the peril and is...
Webster's Dictionary of the English Language
Originally meant the thing or goods saved from wreck, fire, or enemies. It now signifies an allowanc...
The Sailor's Word-Book
·vt Failure to use advantageously; as, loss of time. II. Loss ·vt Failure to gain or win; as, loss ...
Total loss is the insurance recovered under peril, according to the invoice price of the goods when ...
·add. ·- Energy wasted by hysteresis or eddy currents in the core of an armature, transformer, ·etc....
A term in marine insurance, implying that the underwriters are to pay the amount insured without sal...
When the repair of damage sustained by the perils of the sea would cost more than the ship would be ...
Is within the policy of insurance, whether it be by accident, or by the fault of the master or marin...