Deduction For New

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.

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 pari being presumed to he better than before the damage, in some part-, by custom or by express provision in the policy, the allowance is not made on a ivew during the first year, or on a new sheathing. or on an anchor or chain-cables; 1 I'hill. Ins. £ 50; 2 id. S§ 1369, 1 131: Gray v. Wain, 2 s. & R, (Pa.) 229, 7 Am. Dec. 642; risk v. ins. Co., 18 La. 77: Orrok v. Ins. Co., 21 Pick. (Ma^s.i 156, ■ ■- Am. Dec 271; IVpau v. Ins. Co., 5 Cow. (N. Y.i 63, 15 Am. Dec. 431.