RISK. 



occafioned by the perils of the fea, can be turned into a total 

 lofs. But if the voyage be loft, from whatever caufe, it is 

 a total lofs, not only of the (hip and freight, but alfo of the 

 cargo, if no other ihip can be procured to carry it to its 

 port of deftination. If a cargo be damaged fo as to be re- 

 duced in value to lefs than the freight, it will be a total 

 lofs. 



Another circumftance to be here considered is the time 

 within which the infured may abandon. In France, Spain, 

 and Holland, the times are limited by law, according to the 

 diftance of the place where the lofs happens, within which 

 the abandonment mult be made. In England no time is 

 limited by law for abandoning ; but our courts have laid 

 down a rule, which feems better fuited to the prattice of 

 commerce, and more likely to prevent frauds than thofe juft 

 alluded to. This rule is, that as foon as the infured has re- 

 ceived advice of a total lofs, he muft make his election whe- 

 ther he will abandon or not ; if he determines to abandon, 

 he muft give the underwriters notice of this " within a rea- 

 fonable time" after the intelligence arrives; and any un- 

 neceffary delay in giving this notice will amount to a waver 

 of his right to abandon, for unlefs the owner does fome act, 

 fignifying his intention to abandon, it will be only a partial 

 lofs, whatever may be the nature of the cafe, or the extent 

 of the damage. When the infured has determined to 

 abandon, and to demand as for a total lofs, he is not obliged, 

 as in fome foreign countries, to make a formal proteft, but 

 merely to give notice of the lofs to the underwriters, and of 

 his determination to abandon. But there is no particular 

 form for this purpofe ; in whatever form an abandonment is 

 declared, it muft be explicit, and it is not to be taken as 

 matter of inference from an equivocal act. The notice may 

 be given either to the underwriter hinifelf, or to the agent 

 who has fubferibed for him. If the infurance be entire, 

 the infured cannot abandon for part only ; but if different 

 articles be feparately infured, or feparately valued, any one 

 of them may be abandoned. The abandonment muft be 

 fimple and unconditional, otherwife it will not transfer the 

 entire property to the inlurers, which conltitutes the eilence 

 of the abandonment. If, therefore, I abandon a captured 

 (hip, on condition that in cafe (he (hall be releafed, (he (hall 

 continue my property, and I (hall repay with intereft the 

 fum which the infurers (hall have paid me, fuch an abandon- 

 ment would be void. 



As to the effect of an abandonment, we obferve that it 

 transfers the property infured to the infurers in proportion 

 to their refpedtive fubferiptions ; and this transfer relates 

 back to the commencement of the voyage. As in England 

 freight is infurable feparately from the (hip, the abandonment 

 of the (hip does not, as in France, transfer to the infurer 

 the freight (lie has earned. Where the intereft of the in- 

 fured is not entirely covered by the infurance, he may 

 abandon to the extent of the fum infured ; for he is his own 

 infurer for the refidue. If good6 be partly infured, and 

 money borrowed on refpondentia for the refidue, the in- 

 furer will have the legal title to what is abandoned, and the 

 lender only an equitable claim to his proportion. If there 

 be three infurances ; one on the (hip and cargo, one on the 

 (hip only, and one on the cargo only ; Emerigon thinks, 

 that the infurers on the (hip and cargo have an equal claim 

 on the effe&s faved, with the infurers on the cargo only, and 

 that they have a like claim on the freight, and the remains of 

 the (hip, with the infurers on the (hip only, in proportion to 

 their refpe&ive fubferiptions ; e. g. If a (hip be valued at 

 5000/., the cargo 5000/., making a total of iOjOOo/., and 

 thefe are infured by different policies, thus : 



On (hip and cargo 

 On the (hip only 

 On the cargo only 

 Uninfured 



£'3000 



3000 

 3000 

 1000 



10,000 



A (hipwreck happens, and the net proceeds of the wreck 

 of the (hip are 500/., and of the cargo 500/., total 1000/. ; 

 Emerigon would adjuft the claims of all parties thus : 



To the owners for their part of (hip and cargo un- 

 infured, - - - - - £ioo 



To the infurers on (hip and cargo, a moiety of the 



produce of the wreck, ... 225 



The like to the infurers on the ihip, - - 225 



To the infurers on the cargo, a moiety of the pro- 

 duce of the goods faved, - - - 225 



The like to the infurers on the (hip and cargo, - 225 



1000 



By this adjullment the infurers on the (hip and cargo 

 would have a double (hare of the effects abandoned, which 

 is manifeftly unjuft. An Englifh merchant would, we con- 

 ceive, adjuft the different claims thus : 



To the owners for their part of (hip and cargo un- 

 infured, - £ioc 



To the inlurers 011 fhip and cargo, a moiety of three- 

 filths of the produce ot the wreck, - - 150 



To the infurers on the fhip, three-fifths of the pro- 

 duce of the wreck, - 300 



To the infurers on the cargo, three-fifths of the pro- 

 duce of the goods faved, ... 300 



To the infurers on the (hip and cargo, a moiety of 



three-fifths of the produce of the goods faved, - 150 



The abandonment does not only entitle the underwriters 

 to all that can be faved of the effetts infured ; but if com- 

 penfation be made to the infured for the injury from which 

 the lofs arofe, this compenfatiou (hall go to the under- 

 writers ; for when they have paid the lols, they, and not 

 the infured, are the real fufferers. 



If, after a total lofs happening, the fhip be abandoned, 

 but (he afterwards arrives fafe, this (hall not avoid the 

 abandonment ; but the infurers (hall have all the profit of 

 the voyage. But they cannot compel the infured to take 

 back the thing infured and refund the money. 



An abandonment once properly made upon a fufficient 

 ground, and accepted by the infurers, is abfolute and 

 binding upon both parties ; nor can it be revoked but by 

 mutual confent ; but if it be not upon fufficient ground, it 

 will be void. 



In cafe of misfortune, the infured is bound to ufe his en- 

 deavours to fave as much as poffible ; and to enable him to 

 do this, without prejudicing his right of abandonment, our 

 policies make feveral provifions for certain afts to be per- 

 formed for this purpofe, without prejudice to the infurance, 

 " to the charges o£ which, the infurers agree to contribute, 

 each according to the rate and quantity ot his fubfeription." 

 The captain, in particular, is to exert himfelf to the utmoft 

 of his power in the prefervation both of the (hip and cargo ; 

 and for whatever is recovered of the effects infured, he is 

 accountable to the infurers. 



We 



