1. A commercial undertaking that has an element of risk; a venture. Cf. JOINT VENTURE.
2. Marine insurance. A voyage involving financial and insurable risk, as to a shipment of goods. — Often shortened to venture. [Cases: Insurance 2214.]
common adventure. A maritime enterprise, characterized as an undertaking in which all participants, including the carrier, everyone with an interest in the cargo, and the insurers of all share the risks of the perils of the sea. • The principle of shared risk is fundamental to maritime law.
— Also termed joint adventure; common venture.
gross adventure. A loan on bottomry, so called because the lender will be liable for the gross (or general) average. See BOTTOMRY.
joint adventure.
1. See common adventure.
2. See JOINT VENTURE.
