The Principle of General Average Gives a Ship's Captain an Incentive

question 37

True/False

The principle of general average gives a ship's captain an incentive to consider the value of cargo when jettisoning it to prevent a disaster.

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, recognized by law as having rights and liabilities.

General Partnership

A business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a partnership agreement.

Financial Manager

A professional responsible for managing the financial health of a corporation, focusing on planning, directing investment activities, and developing strategies.