marine interest

marine interest
The interest allowable on bottomry and respondentia bonds, such being at an exceptionally high rate on account of the hazard of loss of both principal and interest. 48 Am J1st Ship § 601. Although bottomry and respondentia bonds usually make provision for the payment of maritime interest, an agreement for such interest is not a necessary element of a bottomry contract. Force v The Ship Pride of the Ocean (DC NY) 3 F 162, 164.

Ballentine's law dictionary. . 1998.

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  • Marine interest — Marine Ma*rine , a. [L. marinus, fr. mare the sea: cf. F. marin. See {Mere} a pool.] 1. Of or pertaining to the sea; having to do with the ocean, or with navigation or naval affairs; nautical; as, marine productions or bodies; marine shells; a… …   The Collaborative International Dictionary of English

  • marine interest — noun : interest at a legally unrestricted rate on a maritime loan compare bottomry …   Useful english dictionary

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  • Marine law — Marine Ma*rine , a. [L. marinus, fr. mare the sea: cf. F. marin. See {Mere} a pool.] 1. Of or pertaining to the sea; having to do with the ocean, or with navigation or naval affairs; nautical; as, marine productions or bodies; marine shells; a… …   The Collaborative International Dictionary of English

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