Investopedia

Continue to Site »

Admiralty Liability

Filed Under » ,
Dictionary Says

Definition of 'Admiralty Liability'

A risk, event or conduct that would run afoul of admiralty (maritime) laws, thereby putting the matter under the jurisdiction of an admiralty court. Most notably, matters subject to admiralty law do not require trial by jury.
Investopedia Says

Investopedia explains 'Admiralty Liability'

Admiralty law is quite complex, and does not necessarily coincide with U.S. law, thereby creating many jurisdictional issues. Common law precedents (such as fair and equitable settlement) do not necessarily apply. Originally developed to encourage shipping commerce, admiralty law has only very recently recognized the rights of crewmen. In the U.S., this was accomplished through the Jones Act, which gives crewmen the right to trial by jury in negligence cases, for example.

Articles Of Interest

  1.

    What Is International Trade?

    Everyone's talking about globalization, so we explain what is it and why some oppose it.

  2. What Is The World Trade Organization?

    The WTO sets the global rules of trade. But what exactly does it do and why do so many oppose it?

  3. Benefits for Members of the Armed Forces

    If your plans have been affected by your time in the combat zone, fear not!

  4. Why The Consumer Price Index Is Controversial

    Find out why economists are torn about how to calculate inflation.

  5. Predict Inflation With The Producer Price Index

    Find out how the PPI can be used to gauge the overall health of the economy.

  6. Leading Economic Indicators Predict Market Trends

    Leading indicators help investors to predict and react to where the market is headed.

  7. Austerity: When The Government Tightens Its Belt

    When a government tightens its belt in tough economic times the entire nation feels the squeeze.

  8. Will Quantitative Easing Be Japan's Savior?

    The quantitative easing program, recently announced by the new governor of the Bank of Japan, Haruhiko Kuroda, is for a cash infusion of $1.4 trillion by the end of 2014. Will it help the Japanese ...

  9. Inspecting A Country's Debt

    Tensions over just how to handle debt are pitting the rich world against the developing world like never before.

  10. All The Cliffs You Need To Know About

    In addition to the oft-cited fiscal cliff, there are economic, tax, political, geopolitical and earnings pitfalls to avoid.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Abatement Cost

    A cost borne by many businesses for the removal and/or reduction of an undesirable item that they have created.

  2. Validation Period

    The amount of time necessary for the premium on an insurance policy to cover the commissions, the cost of investigation, medical exams and other expenses associated with the issuance of the policy.

  3. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  4. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  5. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  6. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.
Trading Center