ADJUSTMENT (from

See also:

• LATE

late

See also:

• LAT

Lat. ad juxtare, derived from juxta, near, but

See also:

• EARLY
• EARLY, JUBAL ANDERSON (1816-1894)

early confounded with a supposed derivation from justus, right)  , regulating, adapting or settling; in commercial law, the settlement of a loss incurred at sea on insured goods . The calculation of the amounts to be made good to and paid by the several interests is a complicated matter . It involves much detail and arithmetic, and requires a full and accurate knowledge of the principles of the subject . Such adjustments are made by men called adjusters, who make the subject their profession . In Great Britain they are for the most part members of the Average Adjusters' Association (187o), a body which has done much careful work with a view to making and keeping the practice uniform and in accord with right principles . This association has gradually formulated, at their annual meetings, a body of practical rules which the individual members undertake to observe .