MARITIME LOAN - Steven J. Coker
Subject: MARITIME LOAN
From: Steven J. Coker
Date: December 16, 1998

Extracted From:
  A LAW DICTIONARY ..., SIXTH EDITION, 1856
  by John Bouvier, CHILDS & PETERSON, PHILADELPHIA

MARITIME LOAN. A contract or agreement by which one, who is the lender, lends to
another, who is the borrower, a certain sum of money, upon condition that if the
thing upon which the loan has been made, should be lost by any peril of the sea,
or vis major, the lender shall not be repaid, unless what remains shall be equal
to the sum borrowed; and if the thing arrive in safety, or in case it shall not
have been injured, but by its own defects or the fault of the master or
mariners, the borrower shall be bound to return the sum borrowed, together with
a certain sum agreed upon as the price of the hazard incurred....

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