Title 18 — Business Structure and Function
60 chapters · 1,419 sections in this title.
18 GCA § 38101 What is Respondentia
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Respondentia is a contract by which a cargo, or some part thereof, is hypothecated as security for a loan, the repayment of which is dependent upon maritime risks. SOURCE: CC § 3036.
18 GCA § 38102 By Owner
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The owner of cargo may hypothecate it upon respondentia, at any time and place, and for any lawful purpose. SOURCE: CC § 3037.
18 GCA § 38103 By Master
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The master of a ship may hypothecate its cargo upon respondentia only in a case in which he would be authorized to hypothecate the ship and freightage, but is unable to borrow sufficient money thereon for repairs or supplies which are necessary for the successful accomplishment o…
18 GCA § 38104 Rate of Interest
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The provisions of § 37106 to § 37108 apply equally to loans on respondentia. SOURCE: CC § 3039.
18 GCA § 38105 Obligations of Ship Owner
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COL120106 The owner of a ship is bound to repay to the owner of its cargo all which the latter is compelled to pay, under a contract of respondentia made by the master, in order to discharge its lien. SOURCE: CC § 3040. NOTE: No 1970 Civil Code '§ 3041-3045 existed. ----------- C…