hypothecation
hypothecation is defined in Webster's Unabridged Dictionary (1913) with 1 sense. The full text of each entry is reproduced verbatim below.
Definitions
- 1.(Law of Shipping) A contract whereby, in consideration of money advanced for the necessities of the ship, the vessel, freight, or cargo is made liable for its repayment, provided the ship arrives in safety. It is usually effected by a bottomry bond. See Bottomry. Note: This term is often applied to mortgages of ships.
Source: Webster's Unabridged Dictionary, 1913 edition (public domain, via GCIDE / Project Gutenberg).
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- Definitions: Webster's Unabridged Dictionary, 1913 edition (public domain, via GCIDE / Project Gutenberg).
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