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Abandonment

ABAN'DONMENT, n. 1. A total desertion; a state of being forsaken. 2. In commerce, the relinquishing to underwriters all the property saved from loss by shipwreck, capture or other peril stated in the policy. T...

Webster Dictionary
English dictionary 16.3 MB

Meaning

ABAN'DONMENT, n.

1. A total desertion; a state of being forsaken.

2. In commerce, the relinquishing to underwriters all the property saved from loss by shipwreck, capture or other peril stated in the policy. This abandonment must be made before the insured can demand indemnification for a total loss.

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