Adjustment

In marine insurance. The adjustment of a loss is the settling and ascertaining the amount of the indemnity which the assured, after all allowances and deductions are made, is entitled to receive under the policy, and fixing the proportion which each underwriter is liable to pay: a kind 'of account stated, or agreement between the parties, as to what the particular average, or partial loss shall amount to.

Smith's Merc. Law, 244. 2 Arckb, N, Prius, 200. 8 Kent's Com, 242, 386.