Respondentia - Law Dictionary Search Results
Home Dictionary Name: respondentiarespondentia
respondentia [New Latin, from Latin respondent- respondens, present participle of respondere to answer, correspond; from the fact that the loan is only a personal obligation on the part of the borrower who must “answer” for the money] : a loan secured by the goods on one's ship compare bottomry ...
Respondentia
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....
bottomry
bottomry [alteration of earlier bottomary, modification of Dutch bodemerij, from bodem bottom, hull, ship] : a contract under which the owner of a ship pledges the ship as collateral for a loan to finance a journey [money lent on for…equipping the vessel "Louisiana Civil Code"] compare respondentia ...
Bills of gross adventure
Bills of gross adventure, an instrument in writing which contains a contract of bottomry, respondentia, and every species of maritime loan, Fr. Law....
Bottomry Bond, or Contract, also Bottomree, or Bummaree
Bottomry Bond, or Contract, also Bottomree, or Bummaree, a species of mortgage or hypothecation of a ship, by which her keel or bottom is pledged (partum pro toto) as a security for the repayment of a sum of money. If the ship be totally lost, the lender loses his money; but if she returns safely, he recovers his principal, together with the interest agreed upon. Such bonds are allowed as valid in all trading nations, for the benefit of commerce, and as a pretium periculi for the extraordinary hazard run. See Abbott on Shipping, and RESPONDENTIA....
Usura maritima
Usura maritima [f'nus nauticum, Lat.], interest taken on bottomry or respondentia bonds, which is proportioned to the risk, and was not affected by the abolished usury laws, 19 Geo. 3, c. 37; 2 Steph. Com....
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