Public-domain · open source
OpenJurist

Total loss by deterioration

Defined in 1 dictionary — Case Law

Definitions from Case Law

From 12 U.S. 39 - Marcardier v. The Chesapeake Insurance Company · 1814Most cited · 45 citing opinions

It seems now clear that a technical total loss may arise from the mere deterioration of a cargo by any of the perils insured against, if the deterioration be ascertained at an intermediate port, of necessity, short of the port of destination. In such case, although the ship be in a capacity to perform the voyage, yet if the voyage be not worth pursuing, or the thing insured be so damaged and spoiled as to be of little or no value, the insured has a right to abandon the projected adventure, and throw upon the underwriter the unprofitable and disastrous subject of insurance.