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General average

   Also found in: Legal, Financial, Acronyms, Wikipedia 0.04 sec.
a contribution made, by all parties concerned in a sea adventure, toward a loss occasioned by the voluntary sacrifice of the property of some of the parties in interest for the benefit of all. It is called general average, because it falls upon the gross amount of ship, cargo, and freight at risk and saved by the sacrifice.
See under Average, Court.

See also: Average General


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The general average was six hours a day, which meant for Jurgis about six dollars a week; and this six hours of work would be done after standing on the killing bed till one o'clock, or perhaps even three or four o'clock, in the afternoon.
The Jungle by Sinclair, Upton View in context
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