- 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.
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.
Investment dictionary. Academic. 2012.
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