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What does inherent vice mean?

Looking for the meaning or definition of the word inherent vice? Here's what it means.

Noun
  1. (law, business) An intrinsic shortcoming in an object, especially an object's in-built tendency to degrade, which adversely affects its evaluation, preservability, insurability, or acceptability to be transported by a shipper, and which usually limits the legal liability of those who handle or care for it.
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