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Simple English definitions for legal terms

usura maritima

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A quick definition of usura maritima:

Term: Usura Maritima

Definition: Usura maritima is a type of interest charged on a loan taken out for maritime purposes, such as the purchase of a ship or cargo. This interest is not restricted by usury laws and is proportionate to the risk involved in the loan.

A more thorough explanation:

Usura maritima is a Latin term that refers to the interest charged on a bottomry or respondentia bond. This interest is proportioned to the risk involved and is not restricted by usury laws.

For example, if a ship owner takes out a loan to repair their vessel, they may offer a bottomry bond as collateral. The lender would then charge interest on the loan, which would be proportionate to the risk involved in lending money for the repair of the ship. This interest would be considered usura maritima and would not be subject to usury laws.

Another example would be a respondentia bond, which is a type of loan secured by the cargo of a ship. The interest charged on this type of loan would also be considered usura maritima.

Usura maritima is a term used in maritime law to describe the interest charged on loans that are secured by a ship or its cargo. The interest charged is based on the risk involved in lending money for these purposes and is not subject to usury laws, which typically limit the amount of interest that can be charged on a loan. This allows lenders to charge higher interest rates on these types of loans, which helps to offset the risk involved in lending money for maritime purposes.

usura manifesta | usurarius

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join the ethically ambiguous legal field instead
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Exactly. My version of that awful poem.
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windyMagician
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Dkk
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what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
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nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
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should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
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.
bk so slept on
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texaslawhopefully
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In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
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Indeed, indeed.
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