LITIGATION Definition

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LITIGATION is legal proceeding in a court; a judicial contest to determine and enforce legal rights.

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CONTRIBUTION see CONTRIBUTION MARGIN.

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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