respondentia


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Related to respondentia: Bottomage

respondentia

a contract in the maritime law, recognized by many nations, concluded in a foreign port for prepayment of advances made to supply a ship with necessaries secured over the cargo and recorded in a bond of respondentia. See also BOTTOMRY, HYPOTHEC.

RESPONDENTIA, maritime law. A loan of money on maritime interest, on goods laden on board of a ship, which, in the course of the voyage must, from their nature, be sold or exchanged, upon this condition, that if the goods should be 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,
     2. The contract is called respondentia, because the money is lent on the personal responsibility of the borrower. It differs principally from bottomry, 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 all 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 person of the borrower; in the latter, the lender has, in general, only the personal security of the borrower. Marsh. Ins. B. 2, c. 1, p. 734. See Lex Mer. Amer. 354; Com. Dig. Merchant, E 4; 1 Fonb. Eq. 247, n. I.; Id. 252, n. o.; 2 Bl. Com. 457; Park. Ins. ch. 21; Wesk. Ins. 44; Beames' Lex. Mex. 143; 3 Chitty's Com. Law, 445 to 536; Bac. Abr. Merchant and Merchandise, K; Bottomry.

References in periodicals archive ?
The Trial Division has jurisdiction over claims in the nature of bottomry or respondentia, (149) as well as claims for damage or loss of life or personal injury caused by a ship, (150) for salvage, (151) and for the wages of the master, officer, or member of a ship's crew.
Such rules and principles include those governing such uniquely maritime subjects as salvage, general average, the ranking of claims, liens, pre-judgment interest on damage claims, bottomry, and respondentia.
Modern means of direct communication between the master and the shipowners have rendered claims for bottomry and respondentia virtually obsolete.