The Potomac - 105 U.S. 630 (1881)
U.S. Supreme Court
The Potomac, 105 U.S. 630 (1881)
105 U.S. 630
1. Upon a libel in admiralty for a collision, the libellant may be allowed damages for the loss of the use of his vessel while laid up to repair the injuries thereby suffered, and if at the time of the collision she was in no need of repair, and was engaged in and peculiarly fitted for a particular business and her charter value cannot be otherwise satisfactorily ascertained, the average of the net profits of her trips for the season may be adopted as the measure of the allowance.
2. A vessel being insured on two-thirds of her valuation by valued policies, by which, in case the insurers should pay any loss, the assured agreed to assign to them all right to recover satisfaction from any other person, or to prosecute therefor at the charge and for account of the insurers, if requested, and that they should be entitled to such proportion of the damages recovered as the amount insured bore to the valuation in the policies, the assured filed a libel in admiralty against another vessel for damages suffered by a collision. The insurers paid the libellant two-thirds of that damage, and
released and assigned to the owners of the libeled vessel all their right in any damages growing out of the collision. It appearing that the collision was owing to the fault of both vessels, the libellant could recover only half of the damages sued for. Held that one-third of the sum paid by the insurers must be deducted from the amount to be recovered.
The case is stated in the opinion of the Court.