Maritime Loan Law and Legal Definition
Maritime loan is a contract or agreement which provides that a lender will not be repaid if the thing upon which the loan made is damaged or lost because of a navigational peril or vis major. However, the lender will be repaid if the thing upon which the loan made arrives safely or is damaged because of the carrier’s negligence.
Legal Definition list
Related Legal Terms
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
- Adjustable Rate Mortgage Loan
- Administrative Cost of Issuing a Loan Guarantee
- Admiralty and Maritime
- Admiralty Court/Maritime Court
- Air Loan
- Allowance for Loan and Lease Losses
- Amortized Loan
