Respondentia
Legal definition for Indian law research
Definition
Respondentia, money which is borrowed not upon the vessel, as in bottomry, but upon the goods and merchandise contained in it, in cases of extreme urgency, as a last resort and where communication with the owners is impossible in the circumstances. The shipowner must indemnify the owner of the cargo thus hypothecated.
(to answer). A loan secured by cargo on one's ship rather than the ship itself, Black's Law Dictionary, 7th Edn., p. 1313.
(to answer). A loan secured by cargo on one's ship rather than the ship itself, Black's Law Dictionary, 7th Edn., p. 1313.
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