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Simple English definitions for legal terms

maritime interest

Read a random definition: letter security

A quick definition of maritime interest:

Maritime interest refers to the interest charged on a loan that is secured by a ship or its cargo. This means that if the borrower is unable to repay the loan, the lender can take possession of the ship or its cargo to recover their money. Because this type of loan is considered risky, the interest rate charged can be very high.

A more thorough explanation:

MARITIME INTEREST

Maritime interest refers to the interest charged on a loan that is secured by a sea vessel or its cargo, or both. Due to the high risk involved in lending money for such purposes, the interest rate charged on such loans is usually very high.

For instance, if a shipping company takes a loan to purchase a cargo ship, the lender may charge maritime interest on the loan. Similarly, if a company borrows money to transport goods via sea, the lender may charge maritime interest on the loan.

Another example could be a fisherman who takes a loan to buy a new boat. The lender may charge maritime interest on the loan as the boat is used for fishing in the sea, which is considered a high-risk activity.

The examples illustrate how maritime interest is charged on loans that are secured by sea vessels or their cargo. The lenders charge high-interest rates due to the high risk involved in lending money for such purposes. The borrowers, in turn, have to pay a higher amount of interest on the loan as compared to other types of loans.

maritime flavor | maritime jurisdiction

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JumpySubsequentDolphin
23:52
☹️
it's like p much impossible to get in if you don't do it according to the deans lol
like i mean it's probs possible but. very rare
JumpySubsequentDolphin
23:52
SO WHY DO THEY CALL IT
JumpySubsequentDolphin
23:52
OPTIONAL
mind games
JumpySubsequentDolphin
23:52
WHY DO SCHOOLS DO THIS
JumpySubsequentDolphin
23:52
the illusion of chocoe
JumpySubsequentDolphin
23:52
chocoe
JumpySubsequentDolphin
23:52
choice
there's an infamous dude on reddit who literally got into every t14 like HYS but got WL at northwestern and he's like it's definitely because he didn't do the interview lol
and he had like 180 lol
JumpySubsequentDolphin
23:59
maybe YP?
Dkk
2:22
@jackfrost11770: "do the northwestern thing" ? very sad.
Dkk
2:23
@jackfrost11770: that'smy Army buddy who got rejected from NW.
Dkk
2:24
He did not have 180. 170.
Dkk
2:25
Northwestern is an Ohio trainwreck and the staff there should consider the gun,
4:18
^ HAHAHAHA
4:19
Jackfrost has a point though, a good way to stand out with your apps is to do as much "optional" stuff as possible, including the interview
4:20
This goes for NU's Kira as much as it does, for example, ASU's 1-minute "elevator pitch" video
Dkk
4:22
Indeed indeed @renard
Dkk
4:36
Man my butthole is on fire from that Carolina Reaper. 1:36 AM fire farts.
6:18
^is this satire? wtf this is really poorly written lmao
[] baddestbunny
9:49
when someone describes something as "classic LSAT Demon" I tend to assume that is code for "this thing sucks"
Dkk
10:29
I dont know.
Dkk
10:29
I dont know.
[] baddestbunny
10:30
Defining “postmodernism” is a daunting task. One commentator has likened it to “trying to nail gelatin to a wall.” Part of the difficulty is postmodernism’s heterogeneity. As Angela Harris has noted, “There are as many different definitions of postmodernism as there are postmodernists.”
Dkk
10:36
Indeed, indeed!
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