Insurance. any damage or loss to a ship or its cargo voluntarily sustained, as freight jettisoned in a storm, by all parties to a voyage (distinguished from particular average). Abbreviation: G.A.
What’s The Difference: Average, Mean, Median, And Mode
As you probably know the terms average, mean, median, and mode are commonly confused with one another because they all describe ways to talk about sets of numbers.
Read more in this article about some frequently asked questions and fun facts related to our definitions.
Origin of general average
First recorded in 1690–1700
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