marine interest
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 29 U.S. 291 - John Conard, Marshal of the Eastern District of Pennsylvania, in Error v. Francis H. Nicoll, in Error · 1830Most cited · 27 citing opinions
Marine interest is allowable, though exceeding the rate of legal interest, as a compensation, not for forbearance, but for the risk which the lender assumes, by which both principal and interest may be lost by the casualties of the voyage. As to that, the question turns solely upon the bona fides of the transaction — whether the security given be a bona fide marine contract, bottomed upon property of sufficient value on board and at the risk of the lender, or is a mere device to cover an usurious transaction.
How often courts cite the case defining “marine interest”
Court decisions citing the opinion that defined “marine interest” — 27 in all, by decade. Counts are citations to the defining case as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.