Cap. 13 Art. 413Cases in which abandonment can be made.

(1) The things insured may be abandoned in the following cases:

(a) shipwreck;

(b) stranding or running aground with partial wreck;

(c) unseaworthiness occasioned by a peril of the sea;

(d) forced abandonment;

(e) capture;

(f) arrest and restraint of princes and peoples;

(g) loss or deterioration of the things insured amounting to at least three-fourths of their value.

(2) Any other damage shall be deemed to be an average loss, and shall be settled between the insurer and the assured in accordance with their agreements, and according to their respective interest.