COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.38RESPONDENTIA 1CHAPTER 38 RESPONDENTIA § 38101. What is Respondentia. § 38102. By Owner. § 38103. By Master . § 38104. Rate of Interest. § 38105. Obligations of Ship Owner . § 38101. What is Respondentia. Respondentia is a contract by which a cargo, or some part th ereof, is hypothe cated as security for a loan, the repayment of which is dependent upon maritime risks. SOURCE: CC § 3036. § 38102. By Owner . The owner of cargo may hypothe cate it upon respondentia, at any time and place, and for any lawful purpose. SOURCE: CC § 3037. § 38103. By Master . The master of a ship may hypothe cate its cargo upon respondentia only in a case in which he would be authorized to hy pothecate the ship and freight age, but is unable to borrow sufficient money thereon for repairs or supplies which are necessary for the successful accom plishment of the voyage, and he cannot do so, even in such case, if there is no reasonable prospect of benefit ting the cargo thereby . SOURCE: CC § 3038. § 38104. Rate of Interest. The provisions of § 37106 to § 37108 apply equally to loans on respondentia. SOURCE: CC § 3039. § 38105. Obligations of Ship Owner . the cargo thereby . SOURCE: CC § 3038. § 38104. Rate of Interest. The provisions of § 37106 to § 37108 apply equally to loans on respondentia. SOURCE: CC § 3039. § 38105. Obligations of Ship Owner . COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.38RESPONDENTIA 2The 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 respon dentia made bythe master , in order to discharge its lien. SOURCE: CC § 3040. NOTE: No 1970 Civil Code '§ 3041 -3045 existed. -----------COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.38RESPONDENTIA
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