DURATION DRIVERS Definition

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DURATION DRIVERS represent the amount of time required to perform an activity.

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BREACH OF CONTRACT is the failure to perform provisions of a contract.

GENERAL AVERAGE is the provision in maritime law where all shippers on a given voyage would reimburse the ship line in the event of vessel sinking or catastrophic damage. It also provides for the reimbursement to those shippers whose cargo was thrown overboard in order to save the vessel.

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