in Commerce, signifies the accidents and misfortunes which happen to ships and their cargoes, from the time of their loading and failing to their return and unloading; and is divided into three kinds. 1. The simple or particular average, which consists in the extraordinary expenses incurred for the ship alone, or for the merchandises alone. Such is the loss of anchors, masts, and rigging, occasioned by the common accidents at sea; the damages which happen to merchants by storm, prize, shipwreck, wet, or rotting; all which must be borne and paid by the thing which suffered the damage. 2. The large and common average, being those expenses incurred, and damages sustained, for the common good and security both of the merchandises and vessels, consequently to be borne by the ship and cargo, and to be regulated upon the whole. Of this number are the goods or money given for the ransom of the ship and cargo, things thrown overboard for the safety of the ship, the expenses for unloading for entering into a river or harbour, and the provisions and hire of the sailors when the ship is put under an embargo. 3. The small averages, which are the expenses for towing and piloting the ship out of or into harbours, creeks, or rivers, one third of which must be charged to the ship, and two thirds to the cargo.

Average is more particularly used for a certain contribution that merchants make proportionably to their losses, who have had their goods cast into the sea in the time of a tempest. It also signifies a small duty which those merchants, who send goods in another man's ship, pay to the master for his care of them over and above the freight. Hence it is exprest in the bills of lading, paying so much freight for the said goods, with primage and average accustomed.