Legal Definition and Related Resources of Respondentia
Meaning of Respondentia
In maritime law. A loan of money, on maritime interest, on goods laden on board of a ship, upon the condition that, if the goods be wholly lost in the course of the voyage, by any of the perils enumerated in the contract, the lender shall lose his money; if not, that the borrower shall pay him the sum borrowed, with the interest agreed upon. The contract is called “respondentia” because the money is lent mainly or most frequently, on the personal responsibility of the borrower. It differs principally from bottomry (q. V.) in the following circumstances: Bottomry is a loan on the ship; respondentia is a loan upon the goods. The money is to be repaid to the lender, with maritime interest, upon the arrival of the ship in the one case, and of the goods in the other. In most other respects, the contracts are nearly the same, and are governed by the same principles. In the former, the ship and tackle, being hypothecated, are liable, as Well as the borrower ; in the latter, the lender has, in general, it is said, only the personal security of the borrower. Marsh. Ins. bk. 2, c. 1, p. 734. The general term, including both respondentia and bottomry, is “hypothecation” (q. v.)
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Respondentia in the Dictionary | Respondentia in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Respondentia |
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Related topics | Respondentia in the World Encyclopedia of Law |
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This definition of Respondentia is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Respondentia in Maritime Law
Note: There is more information on maritime/admiralty law here.
The following is a definition of Respondentia, produced by Tetley, in the context of admiralty law: (“nantissement à la grosse sur facultés”) – The hypothecation of the ship’s cargo by the master while away from the vessel’s home port, as security for a loan to pay for goods or services needed to preserve the ship or complete the voyage. Respondentia, although still secured by a maritime lien (see this maritime law term in this legal dictionary) in the U.K. and British Commonwealth countries, is obsolete, in view of the emergence of modern means of communications. See Tetley, M.L.C., 2 Ed., 1998 at pp. 9, 17 and 419; Tetley, Int’l. M. & A. L., 2003 at p. 594 footnote 91.
Respondentia in Admiralty Law
For information on respondentia in this context, see the entry on respondentia in the maritime law encyclopedia.
Respondentia
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