Juridical Dictionary

This dictionary contains:
8526
juridical terms

Maritime loan




Maritime loan

A contract or agreement by which one, who is the lender, lends to another, who is the borrower, a certain sum of money, upon condition that if the thing upon which the loan has been made, should be lost by any peril of the sea, or vis major, the lender shall not be repaid, unless what remains shall be equal to the sum borrowed; and if the thing arrive in safety, or in case it shall not have been injured, but by its own defects or the fault of the master or mariners, the borrower shall be bound to return the sum borrowed, together with a certain sum agreed upon as the price of the hazard incurred.

RELATED TERMS
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Contract
A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract.

Agreement
A verbal or written resolution of disputes.

Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.

Condition
Persons. The situation in civil society which creates certain relations between the individual, to whom it is applied, and one or more others, from which mutual rights and obligations arise.

Loan
1) A loan in general implies that a thing is lent without reward; but, in some cases, a loan may be for a reward; as, the loan of money. 2) Contracts. The act by which a person lets another have a thing to be used by him gratuitously, and which is to be returned, either in specie or in kind, agreeably to the terms of the contract. The thing which is thus transferred is also called a loan.

Lost
What was once possessed and cannot now be found.

Peril
The accident by which a thing is lost.

Sea
The ocean; the great mass of waters which surrounds the land, and which probably extends from pole to pole, covering nearly three quarters of the globe. Waters within the ebb and flow of the tide, are to be considered the sea.

Major
"1) Military language. The lowest of the staff officers; a degree higher than captain.

Case
1) Practice. A contested question before a court of justicea suit or action a cause. 2) An agreement in writing, between a plaintiff and defendant, that the facts in dispute between them are as there agreed upon and mentioned

Fault
Contracts, Civil law. An improper act or omission, which arises from ignorance, carelessness, or negligence. The act or omission must not have been meditated, and must have caused some injury to another.

Master
"This word has several meanings. 1) Master is one who has control over a servant or apprentice. A master stands in relation to his apprentices, in loco parentis, and is bound to fulfil that relation, which the law generally enforces. He is also entitled to be obeyed by his apprentices, as if they were his children. 2) Master is one who is employed in teaching children, known generally as a schoolmaster; as to his powers 3) Master is the name of an officer: as, the ship Benjamin Franklin, whereof A B is master; the master of the rolls; master in chancery, &c .4) By master is also understood a principal who employs another to perform some act or do something for him. The law having adopted the maxim of the civil law, qui facit per alium facit per se; the agent is but an instrument, and the master is civilly responsible for the act of his agent, as if it were his own, when he either commands him to do an act, or puts him in a condition, of which such act is a result, or by the absence of due care and control, either previously in the choice of his agent, or immediately in the act itself, negligently suffers him to do an injury.

Return
Contracts, remedies. Persons who are beyond the sea are exempted from the operation of the statute of limitations of Pennsylvania, and of other states, till after a certain time has elapsed after their returning.

Price
contracts. The consideration in money given for the purchase of a thing.



SIMILAR TERMS
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Marinarius
An ancient word which signified a mariner or seaman; in England marinarius capitaneus, was the admiral or warden of the ports.

Marine
Whatever concerns the navigation of the sea, and forms the naval power of a nation is called its marine.

Marine and shipping law unit
A research centre specializing in maritime law and the international law of the sea, operating at the T.C. Beirne School of Law, University of Queensland, Australia.

Marine contract
One which relates to business done or transacted upon the sea and in sea ports, and over which the courts of admiralty have jurisdiction concurrent with the courts of common law; such contracts include according to civilians and jurists among other things, charter parties, affreightments, marine hypothecations, contracts for the marine service in the building, re-pairing, supplying and navigating ships; contracts and quasi contracts respec- ting averages, contributions and jettisons, and policies of insurance.

Marine insurance
Contracts. A contract by which one party, for a stipulated premium, undertakes to indemnify the other, against all perils or sea risks, to which his ship; freight or cargo, or some of them, may be exposed, during a certain voyage or fixed period of time.

Marine insurance act
The Canadian federal statute on marine insurance, modelled on the United Kingdom's Marine Insurance Act, 1906..

Marine insurance industry
marine insurance may be divided into three categories: cargo; hull and machinery; and protection and indemnity

Marine interest
Contracts. A compensation paid for the use and risk of money loaned on respondentia and bottomry; provided the money be loaned and put in risk, there is no limit as to the amount which may be lawfully charged by the lender.

Marine league
A measure equal to the twentieth part of a degree.

Marine reinsurance
A contract whereby risks insured under a number of marine insurance contracts are redistributed among one or more reinsurers. Marine reinsurance contracts are often termed "reinsurance treaties".

Mariner
One whose occupation is to navigate vessels on the sea.

Maritagium
Anciently that portion which was given with a daughter in marriage.

Marital
That which belongs to marriage; as marital rights, marital duties.

Marital portion
In Louisiana, this name is given to that part of a deceased husband's estate, to which the widow is entitled.

Marital property
Property that is acquired by the spouses during the marriage. it typically does not include any property owned prior to marriage.

Marital settlement agreement
A written agreement entered into by the spouses getting divorced stating their rights and agreements pertaining to property, support and custody.

Maritime
That which belongs to or is connected with the sea.

Maritime cause
Maritime causes are those arising from maritime contracts, whether made at sea or on land, that is, such as relate to the commerce, business or navigation of the sea; as, charter parties, affreightments, marine loans, hypothecations, contracts for maritime service in building, repairing, supplying and navigating ships, contracts and quasi contracts respecting averages, contributions and jettisons; contracts relating to marine insurance, and those between owners of ships.

Maritime contract
One which relates to the navigation of the sea.

Maritime law
That system of law which relates to the affairs of the sea, such as seamen, ships, shipping, navigation, and the like.

Maritime lien
A secured claim against a ship (and sometimes against cargo or bunkers) in respect of services provided to the vessel or damages done by it. A maritime lien is a substantive right in the property of another, derived from the general maritime law (supra) and rooted in the civil law concept of a "privilège". It arises without notice, registration or other formalities, at the time the services are rendered or the damages are done. Unlike a common law possessory lien (infra), it does not depend for its existence on the possession of the res by the creditor. It travels with the ship, so as to encumber the title of subsequent owners or possessors and survives the conventional sale of the vessel. It remains inchoate from the moment it attaches, until it is enforced by an action in rem, when it relates back to the time it first attached. In the U.K. and British Commonwealth countries, it ranks after special legislative rights (infra), the costs of arrest and sale and custodia legis expenses (supra) and before ship mortgages (infra) and statutory rights in rem (infra).

Maritime london
An organization promoting London as the world's premier maritime centre. Its website features news, information and links to various maritime organizations in the United Kingdom.

Maritime profit
Maritime law. The French writers use the term maritime profit to signify any profit derived from a maritime lean.



PREVIOUS AND NEXT TERMS
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Maritime
That which belongs to or is connected with the sea.

Maritime cause
Maritime causes are those arising from maritime contracts, whether made at sea or on land, that is, such as relate to the commerce, business or navigation of the sea; as, charter parties, affreightments, marine loans, hypothecations, contracts for maritime service in building, repairing, supplying and navigating ships, contracts and quasi contracts respecting averages, contributions and jettisons; contracts relating to marine insurance, and those between owners of ships.

Maritime contract
One which relates to the navigation of the sea.

Maritime law
That system of law which relates to the affairs of the sea, such as seamen, ships, shipping, navigation, and the like.

Maritime lien
A secured claim against a ship (and sometimes against cargo or bunkers) in respect of services provided to the vessel or damages done by it. A maritime lien is a substantive right in the property of another, derived from the general maritime law (supra) and rooted in the civil law concept of a "privilège". It arises without notice, registration or other formalities, at the time the services are rendered or the damages are done. Unlike a common law possessory lien (infra), it does not depend for its existence on the possession of the res by the creditor. It travels with the ship, so as to encumber the title of subsequent owners or possessors and survives the conventional sale of the vessel. It remains inchoate from the moment it attaches, until it is enforced by an action in rem, when it relates back to the time it first attached. In the U.K. and British Commonwealth countries, it ranks after special legislative rights (infra), the costs of arrest and sale and custodia legis expenses (supra) and before ship mortgages (infra) and statutory rights in rem (infra).

Maritime loan

Maritime london
An organization promoting London as the world's premier maritime centre. Its website features news, information and links to various maritime organizations in the United Kingdom.

Maritime profit
Maritime law. The French writers use the term maritime profit to signify any profit derived from a maritime lean.

Mark
This term has several acceptations: 1) It is a sign traced on paper or parchment, which stands in the place of a signature, usually made by persons who cannot write. 2) It is the sign, writing or ticket put upon manufactured goods to distinguish them from others.3) Mark or marc, denotes a weight used in several parts of Europe, and for several commodities, especially gold and silver. When gold and silver are sold by the mark, it is divided into twenty-four carats. 4) Mark is also in England a money of accounts, and in some other countries a coin.

Mark up
The difference between what the agency or broker pays the writer and the amount the agency bills the client for the writer's work. Usually calculated as a certain percentage of the writer's billing rate or fee. The markup covers all of the agency's costs and profits.

Market
A public place appointed by public authority, where all sorts of things necessary for the subsistence, or for the conveniences of life, are sold.

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This dictionary contains 8526 terms.







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