the act of adjusting; a reducing to just form or order, a making fit, or conformable to, any assumed standard.

Commerce, the settlement of a loss incurred at sea on insured goods. If the policy be what is called an open one, and the loss of the goods be total, the insurer must pay for them, at the value of prime cost, which includes not only the invoice price of the goods, but all duties paid, the premium of insurance, and all expenses incurred on them when put on board. In the case of a loss, the insurer is to be put in just the same position in regard to the property insured, as he was before the policy was effected. If the policy be a raised one, and a total loss be incurred, then they are settled for at the valuation fixed at the time of the insurance, unless the insurers can prove that the insured had not a real interest in the goods, or that they were overvalued. In case of a partial loss, the value of the goods must be proved. See Park on Marine Insurance, &c.