A Selection of Leading Cases On Mercantile And Maritime Law : With Notes
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418 (76 E. C. L.
R.). In that case a vessel having put into a foreign port in a dam- aged state, the master borrowed money of a merchant there, for necessary repairs and disbursements ; to secure which he drew bills of exchange upon his owner, and also executed an instrument which purported to be an hypothecation of -the ship, cargo, and freight.
THE GRATITUDINE, 77 By this instrument the merchant who advanced the money forbore all interest beyond the amount necessary to insure the ship to cove...r the advances ; and the master took upon himself and Ms owner the risk of the voyage, making the money payable at all events, and sub- jecting the ship to seizure and sale by virtue of process " out of her Majesty's High Court of Admiralty of England, or any Court of Vice-Admiralty possessing jurisdiction at the port at which the said vessel might at any time happen to be lying, or to be, according to the maritime law and custom of England," in the event of the bills being refused acceptance or being dishonored.
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To quickly assess the difficulty of the text, read a short excerpt:
418 (76 E. C. L.
R.). In that case a vessel having put into a foreign port in a dam- aged state, the master borrowed money of a merchant there, for necessary repairs and disbursements ; to secure which he drew bills of exchange upon his owner, and also executed an instrument which purported to be an hypothecation of -the ship, cargo, and freight.
THE GRATITUDINE, 77 By this instrument the merchant who advanced the money forbore all interest beyond the amount necessary to insure the ship to cove...r the advances ; and the master took upon himself and Ms owner the risk of the voyage, making the money payable at all events, and sub- jecting the ship to seizure and sale by virtue of process " out of her Majesty's High Court of Admiralty of England, or any Court of Vice-Admiralty possessing jurisdiction at the port at which the said vessel might at any time happen to be lying, or to be, according to the maritime law and custom of England," in the event of the bills being refused acceptance or being dishonored.
What to read after A Selection of Leading Cases On Mercantile And Maritime Law : With Notes?
You can find similar books in the "Read Also" column, or choose other free books by Sharswood George to read onlineMoreLess
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