§ 1973 Abandonment Time Conditions

You can only give up on a claim if you do it soon after you learn about the loss, after the trip has started, and before you hear that the trip is finished.

Key Takeaways

•Abandonment must happen after you learn about the loss.
•It must be after the voyage has already begun.
•It must be before you get word that the voyage is finished.
•All three conditions have to be met; missing any one means you can’t abandon.

Example

A cargo ship hits a reef on day 3 of its journey. The ship’s owner finds out on day 4.

The owner can decide to abandon the claim any time after day 4, as long as the ship is still on its trip and they haven’t been told the trip is over. If they wait until after they hear the ship has completed the voyage, they can no longer abandon the claim.

An abandonment can be made only at a time limited by all of the following: (a) Within a reasonable time after the information of the loss. (b) After the commencement of the voyage. (c) Before the insured has information of the completion of the voyage. (Enacted by Stats. 1935, Ch. 145.)

You can only give up on a claim if you do it soon after you learn about the loss, after the trip has started, and before you hear that the trip is finished.

Key Takeaways

•Abandonment must happen after you learn about the loss.
•It must be after the voyage has already begun.
•It must be before you get word that the voyage is finished.
•All three conditions have to be met; missing any one means you can’t abandon.

Example

A cargo ship hits a reef on day 3 of its journey. The ship’s owner finds out on day 4.

Key Takeaways

Example

Key Terms

References

§ 1973 Abandonment Time Conditions

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References