What must the captain do when selling merchandise at sea?

The captain, when selling merchandise at sea under the necessity of preserving the cargo or managing unforeseen circumstances, is required to pay the value it would have had if sold normally. This principle is grounded in the idea of ensuring that the owner of the cargo is not disadvantaged by the sale being made under special circumstances, such as the need for safe disposal due to damage or spoiled condition.

By compensating the cargo owner for what the merchandise would have fetched under normal market conditions, the captain upholds the fairness and integrity of maritime commerce, ensuring that parties involved in the transaction are equitably treated. This requirement serves to promote trust in the shipping and trading process by providing a mechanism for compensation that is reflective of true value, rather than arbitrary figures or other potentially disadvantageous calculations.

Other choices do not align with this standard. Simply paying the current market value might not represent what the merchandise is actually worth under normal sale conditions, and reimbursement for loss of the cargo owners would not address the issue of fair compensation when sales occur at sea. Lastly, stating that no payment is required undermines the fundamental principle of accountability and fair transactions in maritime commerce.