Meaning of respondentia | Babel Free

Definitions

A loan upon goods laden on board a ship.

uncountable, usually

Examples

“In some places of Italy, money may be lent on respondentia to persons who are not interested in the ship, but those loans must be made in the form of a wager.”

“1831, William Selwyn, Henry Wheaton (notes to the decisions), Thomas I. Wharton (additional notes), An Abridgement of the Law of Nisi Prius, Volume 2, 4th American Edition, page 230, In the case of a loan, the money is at the risk of the borrower, and must be repaid at all events. But where money is lent on bottomry or respondentia, the money is at the risk of the lender during the voyage.”

“1999 [1880], John Bouvier, Daniel A. Gleason, Institutes of American Law, Volume 1, New Edition, page 311, The contract is called respondentia because the money is lent on the personal security of the borrower. It differs from bottomry principally in the following circumstances: bottomry is a loan on the ship, respondentia on the goods; the money is to be repaid to the lender, with maritime interest, in the one case upon the arrival of the ship, and of the goods in the other. In all other respects the contracts are nearly the same, and are governed by the same principles.”

CEFR level