limitation of liability
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This is a concept of maritime law where a vessel
owner can attempt to limit money paid to claimants to the
post-accident value of a vessel after a maritime casualty,
ovided that the owner did not have notice and involvement in
the factors that led to the accident. This arose in the 2003
Staten Island Ferry Crash also.
Limitation of liability
was raised in the
sinking of the RMS
Titanic in April of
1912.
Some historians