(1) Where the value of cargo is overstated in a bill of lading or other documents that can fix the price of the cargo, when the cargo is preserved, the amounts of apportionments of general average shall be determined according to such value as stated, and where such value is understated, such value shall be the amount of general average when the cargo has been lost.
(2) The provisions of paragraph (1) shall apply mutatis mutandis where a false statement has been made concerning matters affecting the value of cargo.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]