Adjustment


Adjustment

Adjustment (from late Latin "ad-juxtare", derived from "juxta", near, but early confounded with a supposed derivation from "Justus", right), regulating, adapting or settling; in commercial law, the settlement of a loss incurred 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 adjusters, who make the subject their profession. In Great Britain they are for the most part members of the Average Adjusters' Association (1870), 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. For more information see: General average, and Marine Insurance.

References

*1911


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  • adjustment — I noun abatement of differences, accommodatio, accommodation, accord, accordance, adaptation, agreement, arrangement, attunement, bargain, binding agreement, coaptation, compact, composition, compromise, concurrence, conformance, conformation,… …   Law dictionary

  • Adjustment — Ad*just ment ( ment), n. [Cf. F. ajustement. See {Adjust}.] 1. The act of adjusting, or condition of being adjusted; act of bringing into proper relations; regulation. [1913 Webster] Success depends on the nicest and minutest adjustment of the… …   The Collaborative International Dictionary of English

  • adjustment — [n1] adaptation acclimation, acclimatization, alteration, arrangement, balancing, conformance, correcting, fitting, fixing, improvement, mending, modification, ordering, organization, organizing, orientation, readjustment, redress, regulating,… …   New thesaurus

  • adjustment — [ə just′mənt] n. 1. an adjusting or being adjusted 2. a means or device by which parts are adjusted to one another [the adjustment on a micrometer] 3. the settlement of how much is to be paid in cases of loss or claim, as by insurance 4. a… …   English World dictionary

  • Adjustment — (engl., spr. adjoßtment), die Bestimmung des von einem Versicherten erlittenen Seeschadens od. Verlustes …   Pierer's Universal-Lexikon

  • adjustment — (n.) 1640s, from Fr. ajustement or else a native formation from ADJUST (Cf. adjust) (v.) + MENT (Cf. ment) …   Etymology dictionary

  • adjustment — noun 1 small change made ADJECTIVE ▪ delicate, fine, minor, slight, small ▪ important, major, significant ▪ …   Collocations dictionary

  • adjustment — n. 1) to make an adjustment 2) an adjustment in, of (an adjustment in/of his salary; an adjustment of the brakes) 3) an adjustment to (an adjustment to a new environment) * * * [ə dʒʌstmənt] of (an adjustment in/of his salary; an adjustment of… …   Combinatory dictionary

  • adjustment — ad|just|ment [əˈdʒʌstmənt] n [U and C] 1.) a small change made to a machine, system, or calculation adjustment for ▪ Once we make the adjustments for inflation, the fall in interest rates is quite small. adjustment to ▪ a slight adjustment to the …   Dictionary of contemporary English


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