See Also: abandonment(dictionary)
Abandonment Value(money)
Abandonment(money)
ABANDONMENT(law)
Abandonment(finance)
Abandonment Of A Mark(law)
ABANDONMENT, malicious(law)
ABANDONMENT, contracts(law)
Abandonment Stage(money)
Abandonment option(finance)

ABANDONMENT (law)


ABANDONMENT. In maritime contracts in the civil law, principals aregenerally held indefinitely responsible for the obligations which theirgenerally held indefinitely responsible for the obligations which theiragents have contracted relative to the concern of their commission but withagents have contracted relative to the concern of their commission but withregard to ship owners there is remarkable peculiarity; they are bound by theregard to ship owners there is remarkable peculiarity; they are bound by thecontract of the master only to the amount of their interest in the ship, andcontract of the master only to the amount of their interest in the ship, andcan be discharged from their responsibility by abandoning the ship andcan be discharged from their responsibility by abandoning the ship andfreight. Poth. Chartes part. s. 2, art. 3, Sec. 51; Ord. de la Mar. desfreight. Poth. Chartes part. s. 2, art. 3, Sec. 51; Ord. de la Mar. desproprietaires, art. 2; Code de Com. 1. 2, t. 2, art. 216.proprietaires, art. 2; Code de Com. 1. 2, t. 2, art. 216.