The hypothecation of the cargo or goods on board a ship as security for the repayment of a loan, the tenn “bottomry” being confined to hypothecations of the ship herself; but now the term “respondentia” ia seldom used, and the express slon “bottomry” is generally employed, whether the vessel or her cargo or both be the security. Maude & P. Shipp. 433; Smith, Merc. Law, 416. See Maitland v. The Atlantic, 16 Fed. Cas. 522. Respondentia is a contract by which cargo, or some part thereof, is hypothecated as security for a loan, the repayment of which is dependent on maritime risks. Cir. Code Cal.
Home »
Law Dictionary » R » RESPONDENTIA