Abandonment

With Abandon (Fr. ) is called the waiver of a right to avoid a related duty.

Examples are:

• In Abandonrecht: the devotion of a GmbH - business share to the exemption from the obligation to make
• In Insurance: The transfer of ownership of a Damaged or lost vessel on payment of the full sum insured shall also be deemed Abandon
• In marine insurance law: payment of the agreed sum insured by the transport insurer to the policyholder in the event of any transport damage. Thus, the insurer is relieved of all other possible liabilities arising from the injury. However, this right is void if the insurer notifies the intention to abandon the policyholder within 1 week after becoming aware of the insured event and its immediate consequences. All claims that are incurred up to the receipt of this notification to the policyholder are, but additionally to be borne by the insurer. [§ 141 of the German Insurance Contract Act - SG ( in force since 1 January 2008 version) ]. However, with the agreement " DTV Cargo Insurance Conditions 2000, as amended in 2008 ( DTV Cargo 2000/ 2008)" of the General Association of German Insurers acquires the insurer after its digit 19.4 no rights to the insured goods.