Deduction For New
The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
The Cyclopedic Law Dictionary
In maritime law
The allowance (usually one-third) on the cost of repairing a damage to the ship by the extraordinary operation of the perils of navigation, the renovated part being presumed to be better than before the damage. In some ports, by custom or by express provision in the policy, the allowance is not made on a new vessel during the first year, or on new sheating, or on an anchor or chain cables. 1 Phil. Ins. § 60; 2 Phil. Ins. §§ 1369, 1431, 1433; Benecke & S. Av. (Phil. Ed.) 167, note 238; 2 Serg. & R. (Pa.) 229; 1 Caines (N. Y.) 573; 18 La. 77; 2 Cranch, C. C. (U. S.) 218; 21 Pick. (Mass.) 456; 5 Cow. (N. Y.) 63.