A Navigation Error Caused a Cargo Ship to Run Aground

question 41

Multiple Choice

A navigation error caused a cargo ship to run aground on a reef.The ship,valued at $1.5 million,was carrying $1.5 million in grain and $1.5 in electronic devices.The ship sustained a $150,000 physical damage loss.If this loss is a "particular average" loss,how will the loss be settled?

• A)The owners of each of the three interests are responsible for $50,000.
• B)The owner of the ship is responsible for the entire $150,000 loss.
• C)The two cargo owners are each responsible for $75,000 of the loss.
• D)The owner of the ship is responsible for the first $100,000 of the loss,and the two cargo owners are each responsible for $25,000 of the loss.

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Definitions:

Cognitive-Behavioral Therapy

A form of psychotherapy that aims to improve mental health by identifying and challenging negative thought patterns and behaviors and replacing them with healthier ones.

Major Depressive Disorder

A mental health disorder characterized by a persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Psychoanalytic Therapy

A therapeutic approach developed by Freud that seeks to explore unconscious motivations and conflicts, through techniques such as dream analysis and free association.

Desensitization Therapy

A psychological treatment that reduces a person's emotional response to a stimulus by gradually increasing exposure to the stimulus in a controlled environment.