What legal principle in maritime law states that all parties in a sea venture share losses from a voluntary sacrifice?

The correct answer is based on the legal principle known as General Average Losses in maritime law. This principle states that in a sea venture, if a ship or cargo is sacrificed for the safety of the entire voyage, all parties involved must share the losses incurred from that sacrifice.

This principle aims to promote fairness and cooperation among the involved parties, ensuring that no single party bears the entire burden of a necessary decision made during an emergency at sea. For instance, if part of the cargo is jettisoned to save the ship and remaining cargo from sinking, the losses from the sacrificed cargo must be distributed among all stakeholders based on their respective contributions to the voyage.

Understanding General Average is crucial for maritime adjusters, as it impacts how claims are processed and how compensation is determined after incidents that necessitate sacrifices for the greater good of the voyage. Other principles mentioned, such as Mutual Benefit Principle, Comparative Fault, and Proportional Sacrifice may have relevance in different legal contexts but do not specifically address this shared obligation under maritime law.