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LSDefine

Simple English definitions for legal terms

maritime loan

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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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KnowledgeableRitzyWasp
18:51
medicine is a scam
KnowledgeableRitzyWasp
18:51
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
cheriebomb
19:04
https://whitney.org/collection/works/62454
cheriebomb
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
cheriebomb
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
llama
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
llama
21:17
https://www.youtube.com/watch?v=z7_5nHIbsjo i love K Harris <3
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
chickenburgahfart
23:39
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
chickenburgahfart
23:51
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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