marine interest
Defined in 8 dictionaries — Case Law, Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910), Black's (1891), Anderson (1889), Bouvier (1839)
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.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
A compensation paid for the use of money loaned on bottomry or respondentia. Provided the money be loaned and put at risk, there is no fixed limit to the rate which may be lawfully charged by the lender; but courts of admiralty, in enforcing the contract, will mitigate the rate when it is extortionate and unconscionable.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
A compensation paid for the use of money loaned on bottomry or respondentia. Provided the money be loaned and put at risk, there is no fixed limit to the rate which may be lawfully charged by the lender; but courts of admiralty, in enforcing the contract, will mitigate the rate when it is extortionate and unconscionable. See Bottomry; Mabtcime Loan; Respondentia.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
Interest, allowed to be stipulated for at an extraordinary rate, for the use and risk of money loaned on respondentia and bottomry bands.
Defined under Marine in Black's Law Dictionary.
A Dictionary of Law
Henry Campbell Black · 1891
Interest, allowed to be stipulated for at an extraordinary rate, for the use and risk of money loaned on respondentia and bottomry bonds.
A Dictionary of Law
William C. Anderson · 1889
Extra interest paid for the loan of money upon bottomry or respondentia bonds.
Defined under Marine in A Dictionary of Law.
A Law Dictionary, Adapted to the Constitution and Laws of the United States
John Bouvier · 1839
contracts, is a compensation paid for the use and risk of money loaned on respondentia and bottomry. Provided the money be Joaned and put in risk, there is no limit as to the amount which may be lawfully charged by the lender. 2 Marsh. Ins. 749; Hall on Mar. Loans; Poth. Pret a la Grosse, n. 19.