HYPOTHECATION


Meaning of HYPOTHECATION in English

( n. )

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.

Webster's Revised Unabridged English Dictionary.      Пересмотренный полный словарь английского языка Webster.