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LSDefine

Simple English definitions for legal terms

maritime loan

Read a random definition: in odium corrumpentis

A quick definition of maritime loan:

A maritime loan is a type of loan that is given to someone who is shipping goods across the ocean. If the cargo arrives safely, the borrower has to pay back the loan plus interest. But if the cargo is lost or damaged because of a navigational problem, the borrower doesn't have to pay back the loan. It's like a special kind of loan for people who take risks shipping things across the ocean.

A more thorough explanation:

Definition: A maritime loan is a type of loan that provides that a lender will not be repaid if the cargo is damaged or lost due to a navigational peril, but the lender will be repaid plus interest if the cargo arrives safely or is damaged due to the carrier's negligence.

Example: A shipping company takes out a maritime loan to finance the transportation of a valuable cargo. If the cargo is lost due to a navigational peril, the lender will not be repaid. However, if the cargo arrives safely or is damaged due to the carrier's negligence, the lender will be repaid the loan amount plus interest.

Explanation: The example illustrates how a maritime loan works. The lender takes on the risk of the cargo being lost due to a navigational peril, but if the cargo arrives safely or is damaged due to the carrier's negligence, the lender will be repaid. This type of loan is commonly used in the shipping industry to finance the transportation of goods.

maritime jurisdiction | maritime peril

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Dkk
19:42
SEO is big money
KnowledgeableRitzyWasp
19:42
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
llama
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
llama
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
JapaneseMacaque
20:55
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
JapaneseMacaque
20:57
TY
jackfrost11770
20:59
got a random stanford email and almost had a heart attack
jackfrost11770
20:59
ALSO CONGRATS!
texaslawhopefully
21:03
Congrats1!
Ratratta
21:15
Miami A, yall I'm so excited I could cry.
Ratratta
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
JazzyGazelle
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
JazzyGazelle
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
JazzyGazelle
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
180SupremeWarrior
23:53
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
JazzyGazelle
0:59
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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