What is CONTRIBUTION? Definition of CONTRIBUTION in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
In the civil law. A partition by which the creditors of an insolvent debtor di• vide among themselves the proceeds of his property proportionably to the amount of their respective credits. Code La. art. 3556, par. 9. Division which is made among the heirs of the succession of the debts with which the succession is charged, according to the proportion which each is bound to bear. Civ.Code La. art. 1420.
In common law. The sharing of a loss or payment among several. The act of any one or several of a number of co-debtors, co-sureties, etc., in reimbursing one of their number who has paid the whole debt or suffered the whole liability, each to the extent of his proportionate share. Canosia Tp. v. Grand Lake Tp., 80 Minn. 357, 83 N. W. 346; Ratte v. Ratte, 260 Mass. 165, 156 N.E. 870, 871. Right of one who has discharged a common liability to recover of another also liable, the aliquot portion which he ought to pay or bear. St. Lewis v. Morrison, D.C.Ky., 50 F.Supp. 570, 572, 573. Parten v. First Nat. Bank & Trust Co., 283 N.W. 408, 412, 204 Minn. 200, 120 A.L.R. 962; Chapman v. Lamar-Rankin Drug Co., 64 Ga.App. 493, 13 S.E.2d 734, 737. Fidelity & Casualty Ins. Co. of New York v. Sears, Roebuck & Co., 124 Conn. 227, 199 A. 93, 94.
In maritime law. Where the property of one of several parties interested in a vessel and cargo has been voluntarily sacrificed for the common safety, (as by throwing goods overboard to lighten the vessel,) such loss must be made good by the contribution of the others, which is termed "general average," 3 Kent, Comm. 232- 44; 1 Story, Eq. Jur. § 490.
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That's the definition of CONTRIBUTION in Black's Law Dictionary - Legal dictionary - Glossary of legal terms. Courtesy of Cekhukum.com.