respondentia Synonyms
No Synonyms and anytonyms found
respondentia Meaning
Webster
respondentia (n.)
A loan upon goods laden on board a ship. It differs from bottomry, which is a loan on the ship itself.
respondentia Sentence Examples
- The ship's owner pledged the cargo as respondentia to secure a loan.
- The lender had a maritime lien on the cargo until the respondentia loan was repaid.
- Respondentia was a common form of marine financing in the 17th and 18th centuries.
- The interest rate on respondentia loans was typically high due to the inherent risk involved.
- Shipowners often entered into respondentia agreements to fund costly ship repairs.
- The lender's security interest in the cargo extended only to the specific voyage covered by the respondentia contract.
- If the ship and cargo were lost, the lender had no recourse against the borrower.
- Respondentia loans were used to finance both legitimate and illicit trade voyages.
- The concept of respondentia has been incorporated into international shipping law.
- Modern maritime insurance contracts often include provisions similar to the respondentia system.
FAQs About the word respondentia
A loan upon goods laden on board a ship. It differs from bottomry, which is a loan on the ship itself.
No synonyms found.
No antonyms found.
The ship's owner pledged the cargo as respondentia to secure a loan.
The lender had a maritime lien on the cargo until the respondentia loan was repaid.
Respondentia was a common form of marine financing in the 17th and 18th centuries.
The interest rate on respondentia loans was typically high due to the inherent risk involved.
