Section 11.39 Generally
| Library | Tort Law 2016 |
A. (§11.39) Generally
The LLA (Limited Liability Act), popularly known as the Limitation of Liability Act, 46 U.S.C. §§ 30501–30512, permits a vessel owner, under certain circumstances, to limit liability to third parties for damages as a result of a tort to the value of the offending vessel and its pending freight, i.e., the vessel’s earnings on the voyage. Limited liability has its origin in English and continental law, but it is a creature of statute in the United States. The purpose of the Limitation...
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