adventure

A hazardous and striking enterprise. A bold undertaking accompanied by possible hazards, risks and unforeseen events. A common word in marine insurance policies, used as synonymous, or nearly so, with "perils." A shipment of goods in charge of an agent to be disposed of for the best price obtainable

aventure, or adventure

/a(d)venchar/

A mischance causing the death of a man, as where a person is suddenly drowned or killed by any accident, without felony

@ adventure, bill of

See also bill of adventure

In commercial law, a writing signed by a merchant, stating that the property in goods shipped in his name belongs to another, to the adventure or chance of which the person so named is to stand, with a covenant from the merchant to account to him for the produce.

@ gross adventure

In maritime law, a loan on bottomry. So named because the lender, in case of a loss, or expense incurred for the common safety, must contribute to the gross or general average.

@ joint adventure

A commercial or maritime enterprise undertaken by several persons jointly; a limited partnership,-not limited in the statutory sense as to the liability of the partners, but as to its scope and duration. An association of two or more persons to carry out a single business enterprise for profit, for which purpose they combine their property, money, effects, skill, and knowledge. A special combination of two or more persons, where, in some specific adventure, a profit is jointly sought, without any actual partnership or corporate designation.

See also joint venture

+ joint adventure

Any association of persons to carry out a single business enterprise for profit, for which purpose they combine their property, money, effects, skill, and knowledge. A "joint adventure" exists where there is a special combination of two or more persons jointly seeking to profit in some specific venture without actual partnership or corporate designation; it is an association of persons to carry out a single business enterprise for profit, for which purpose they combine their property, money, effects, skill, and knowledge. Fulton v. Fulton, Mo.App., 528 S.W.2d 146, 155.

See also community of interest

- joint enterprise

- joint venture

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