John Weskett was an English underwriter and merchant who contributed to the understanding of insurance law in the eighteenth century. [1]
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Weskett was probably born in Leeds. It is believed to have lived between 1730 and 1800.
John Weskett was an English underwriter and merchant who contributed to the understanding of insurance law in the eighteenth century. [1]
Weskett was probably born in Leeds. It is believed to have lived between 1730 and 1800.
Weskett offered a definition of the term average in A Complete Digest of the Theory, Laws, and Practice of Insurance, (1781): [2]
Weskett has been criticised for normalising the dehumanisation and commodification of enslaved Africans, for example Robin Pearson and David Richardson (2019) in "Insuring the Transatlantic Slave Trade" [3] or Saidiya Hartman in Lose Your Mother: A Journey Along the Atlantic Slave Route (2007) [4]
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Freight transport, also referred as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. The term shipping originally referred to transport by sea but in American English, it has been extended to refer to transport by land or air as well. "Logistics", a term borrowed from the military environment, is also used in the same sense.
The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law. Incoterms define the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various stages of the transaction. They are widely used in international commercial transactions or procurement processes and their use is encouraged by trade councils, courts and international lawyers. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the global or international transportation and delivery of goods. Incoterms inform sales contracts defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer, but they do not themselves conclude a contract, determine the price payable, currency or credit terms, govern contract law or define where title to goods transfers.
FOB is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway transport. As with all Incoterms, FOB does not define the point at which ownership of the goods is transferred.
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906.
A freight rate is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport, the weight of the cargo, and the distance to the delivery destination. Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo.
Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though marine insurance also includes onshore and offshore exposed property,, hull, marine casualty, and marine losses. When goods are transported by mail or courier or related post, shipping insurance is used instead.
The law of general average is a principle of maritime law whereby all stakeholders in a sea venture proportionately share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency. For instance, should the crew jettison some cargo overboard to lighten the ship in a storm, the loss would be shared pro rata by both the carrier and the cargo-owners.
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise.
Bristol, a port city in south-west England, was involved in the transatlantic slave trade. Bristol's part in the trade was prominent in the 17th and 18th centuries as the city's merchants used their position to gain involvement. It is estimated that over 500,000 enslaved African people were traded by Bristol merchants.
The history of insurance traces the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment.
Affreightment is a legal term relating to shipping.
The NorthStandard P&I Association or Club is a marine mutual liability insurer in the United Kingdom.
Saidiya Hartman is an American writer and academic focusing on African-American studies. She is currently a University Professor at Columbia University in their English department. Her work focuses on African-American literature, cultural history, photography and ethics, and the intersections of law and literature.
Fanny was launched in Norway in 1807 under an unknown name and was captured around 1810 during the Gunboat War. She entered English records in 1811 as an armed merchantman that sailed between Liverpool and South America. On 19 April 1814, the American privateer schooner General Armstrong captured her, though shortly thereafter the British Royal Navy recaptured her. The insurance and marine salvage issues involved gave rise to three notable court cases. Fanny returned to the West Indies trade in 1815 under new owners. She was last listed in 1833.
A shipping agency, shipping agent, or ship agency is the term used to refer to the appointed companies that handle operational and procedural (legal) requirements for a commercial vessel's call at a port for the purposes of cargo handling (loading/discharging), emergency calls, repairs, crew changes, or ship demolition, and protect the general interests of their principals on behalf of ship owners, disponent owners, or charterers in an objective manner.
A bill of lading is a document issued by a carrier to acknowledge receipt of cargo for shipment. Although the term is historically related only to carriage by sea, a bill of lading may today be used for any type of carriage of goods. Bills of lading are one of three crucial documents used in international trade to ensure that exporters receive payment and importers receive the merchandise. The other two documents are a policy of insurance and an invoice. Whereas a bill of lading is negotiable, both a policy and an invoice are assignable. In international trade outside the United States, bills of lading are distinct from waybills in that the latter are not transferable and do not confer title. Nevertheless, the UK Carriage of Goods by Sea Act 1992 grants "all rights of suit under the contract of carriage" to the lawful holder of a bill of lading, or to the consignee under a sea waybill or a ship's delivery order.
A manifest, customs manifest or cargo document is a document listing the cargo, passengers, and crew of a ship, aircraft, or vehicle, for the use of customs and other officials. Where such a list is limited to identifying passengers, it is a passenger manifest or passenger list or bag manifest; conversely, a list limited to identifying cargo is a cargo manifest or cargo list, or a container manifest for cargo in a container. The manifest may be used by people having an interest in the transport to ensure that passengers and cargo listed as having been placed on board the transport at the beginning of its passage continue to be on board when it arrives at its destination.
This document, made up generally by the ship's broker, from the contents of the bills of lading, contains a specification of the nature and quantity of the cargo laden, and is generally attested officially, and in some countries notarially. The prize laws seldom mention this paper; nor is it general; but yet of essential importance in case of search, as well for belligerents, as for neutrals in procuring a speedy dismissal. It is usual to require it at the custom house. (p301)
A freight claim or cargo claim is a legal demand by a shipper or consignee against a carrier in respect of damage to a shipment, or loss thereof.
The Marine Insurance Act 1745 was an Act of Parliament of the Parliament of Great Britain. The Act has been described as "the first significant statutory intervention in substantive marine insurance law".
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