Join Date: Sep 2012
Location: New York
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Re: My Horror Story
If you're getting tired of repetition after only 6 months around here, you're in for a tough time.
Can you post a reference to what you believe limits ones liability to the value of their boat? The only reference I find is when the vessel is out of the control of its owner.
Haha! Yeah I can see that.
ok, the following not tongue in cheek
page 359 General Liability
The liability for the owner of the vessel shall not exceed the value of the vessel and the cargo. This excludes personal injury and death.
Limitation of shipowner's liability
One of the unique aspects of maritime law is the ability of a shipowner to limit its liability to the value of a ship after a major accident. An example of the use of the Limitation Act is the sinking of the RMS Titanic in 1912. Even though the Titanic had never been to the United States, upon her sinking the owners rushed into the federal courts in New York to file a limitation of liability proceeding. The Limitation Act provides that if an accident happens due to a circumstance which is beyond the "privity and knowledge" of the ship's owners, the owners can limit their liability to the value of the ship after it sinks.
The Limitation Act doesn't just apply to large ships. It can be used to insulate a motorboat owner from liability when he loans his boat to another who then has an accident. Even jet ski owners have been able to successfully utilize the Limitation Act to insulate themselves from liability
sorry Harborless.........didn't mean to hijack your thread..
Senior Researcher - Dunning Kruger
Last edited by Sal Paradise; 05-24-2013 at 08:30 PM.