To pledge a thing without delivering the possession of it to the pledgee. "The master, when abroad, and in the absence of the owner, may hypothecate the ship, freight, and cargo, to raise money requisite for the completion of the voyage." 3 Kent Comm. 171. See Spect v. Spect, 88 Cal. 437, 26 Pac. 203, 13 L. R. A. 137, 22 Am. St. Rep. 314; Ogden v. Lathrop, 31 N. Y. Super. Ct. … [Read more...]

A term borrowed from the civil law. In so far as it is naturalized in English and American law, it means a contract of mortgage or pledge in which the subject matter is not delivered into the possession of the pledgee or pawnee; or, conversely, a conventional right existing in one person over specific property of another, which consists in the: power to cause a sale of the … [Read more...]

A bond given in the contract of bottomry or respondentia. … [Read more...]

In French law. Hypothecation; a mortgage on real property; the right vested in a creditor by the assignment to him of real estate as security for the payment of his debt whether or not it be accompanied by possession. See Civ. Code La. art 3360. It corresponds to the mortgage of real property in English law, and is a real charge, following the property intd whosesoever hands it … [Read more...]

old Eng. law. The, ancient name of the offence now called burglary. … [Read more...]