The Liberty, a ship with a value of $30 million, is carrying cargo of GE in the amount of $10 million; Wal-Mart, $40 million; and Magnavox, $20 Million. During a storm, the entire GE locomotive cargo is jettisoned to save the ship and remaining cargo.

4. The settlement method applicable to this loss is known as :
   1. Particular average
   2. Protection and Indemnity
   3. General average
   4. Floor plan judgment

e. GE would receive the following amount from the insurer of the Liberty:

1. $10 million
2. $5 million
3. $3 million
4. none of the above

f. What amount would be paid by Wal-Marts Insurer?

1. $4 million

2. $10 million

3. $2 million
4. none of the above