Definition of Adventure

In mercantile law. Sending goods abroad under charge of asupercargo or other agent, at the risk of the sender, to be disposed of to the best advantage for the benefit of the owners. The goods themselves so sent. In marine insurance. A very usual word in policies of marine insurance, and everywhere used as synonymous, or nearly so, with "perils." It Is often used by the writers to describe the enterprise or voyage as a "marine adventure" insured against. Moores v. Louisville Underwriters (C. Ct) 14 Fed. 233.
—Adventure, bill of. In mercantile law. A writing signed by a merchant, stating that the property in goods shipped in his name belongs to another, to the adventure or' chance of which the person so named is to stand, with a covenant from the merchant to account to him for the produce.
—Gross adventure. In maritime law. A loan on bottomry. So named because the lender, in case of a loss, or expense incurred for the common safety, must contribute to the gross or general average.
—Joint adventure. A commercial or maritime enterprise undertaken by several persons jointly; a limited partnership,
—not limited in the statutory sense as to the liability of the partners, but as to its scope and duration. Ross v. Willett, 76 Hun, 211, 27 N. Y. Supp. 785.