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CONSORTSHIP

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

In maritime law. An agreement or stipulation between the owners of different vessels that they shall keep in company, mutually aid, instead of interfering with each other, in wrecking and salvage, and share any money awarded as salvage, whether earned by one vessel or both. Andrews v. Wall, 3 How. 571, 11 L. Ed. 729.

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