|
Ship Hypothec
In a ship mortgage (common law) or ship hypothec (civil law (legal system), civil law term, covering also a maritime lien), a shipowner gives a lender (or mortgagee) a security interest in a ship as Collateral (finance), collateral for a mortgage loan. Similar to other types of mortgage law, mortgages, a ship mortgage legally consists of three parts: the mortgage loan, the mortgage document (deed) and the rights derived from the mortgage deed onto Bank, money lender. Ship mortgages differ from other types of mortgage in three ways. First, some privileged claims could have a higher ranking over that of mortgagee against the ship. Second, ships naturally move between jurisdictions. And third, a ship is always at risk of partial or total damages at sea. The use of ship mortgages emerged as a widely accepted practice in Shipping, shipping industry in the 19th century as a major source of finance for ship owners. Modern forms of statutory mortgages In United Kingdom, ship mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law primarily developed through judicial decisions rather than statutes. Although common law may incorporate certain statutes, it is largely based on precedent—judicial rulings made in previous similar cases. The presiding judge determines which precedents to apply in deciding each new case. Common law is deeply rooted in Precedent, ''stare decisis'' ("to stand by things decided"), where courts follow precedents established by previous decisions. When a similar case has been resolved, courts typically align their reasoning with the precedent set in that decision. However, in a "case of first impression" with no precedent or clear legislative guidance, judges are empowered to resolve the issue and establish new precedent. The common law, so named because it was common to all the king's courts across England, originated in the practices of the courts of the English kings in the centuries fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shipping
Freight transport, also referred to as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. The term shipping originally referred to transport by sea but in American English, it has been extended to refer to transport by land or air (International English: "carriage") as well. "Logistics", a term borrowed from the military environment, is also used in the same sense. History Prehistoric Era Initial human civilization relied heavily on domesticated animals, such as horses, camels, and donkeys, to transport their goods. The invention of the wheel in Mesopotamia in 5000BC improved this efficiency by allowing for carts and carriages to be created, which animals could pull. Classical Era Romans The Romans built a vast network of roads, which facilitated trade across the numerous cities in its empire. Silk Road Transport along the silk road, a land-based route, was generally done through caravans, equipped ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ship Management
Ship management is the activity of managing marine vessels. The vessels under management could be owned by a sister concern of the ship management company or by independent vessel owners. A vessel owning company that generally has several vessels in its fleet, entrusts the fleet management to a single or multiple ship management companies. Ship management is often entrusted to third parties due to the various hassles that are involved in managing a ship. For instance, ships could be considered as large factories that travel across seas under various weather conditions for several days at a stretch. These vessels are equipped with several types of machinery that require appropriate maintenance and the associated spares on board. In the scenario of a vessel lacking adequate maintenance, this could lead to the breakdown of the equipment in the middle of a voyage at sea. A breakdown could be an expensive affair. A second scenario would be – a vessel is continuously on the move or un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Public Sector Information
The Office of Public Sector Information (OPSI) is the body responsible for the operation of His Majesty's Stationery Office (HMSO) and of other public information services of the United Kingdom. The OPSI is part of the National Archives of the United Kingdom and is responsible for Crown copyright. The OPSI announced on 21 June 2006 that it was merging with the National Archives. The merger took place in October 2006. The OPSI continues to discharge its roles and responsibilities from within the structure of the National Archives. Controller of HMSO and Director of OPSI The Controller of HMSO is also the Director of OPSI. HMSO continues to operate from within the expanded remit of OPSI. The Controller of HMSO also holds the offices of Kings's Printer of Acts of Parliament, King's Printer for Scotland and Government Printer for Northern Ireland. By virtue of holding these offices OPSI publishes, through HMSO, the '' London Gazette'', '' Edinburgh Gazette'', '' Belfast Gazette' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Shipping Act 1988
The Merchant Shipping Act 1988 (c. 12) was an Act of Parliament of the United Kingdom. It aimed to prevent foreign fishing fleets from fishing in British territorial waters. In the Factortame case, its provisions in Parts I and II, Registration of British Ships, were disapplied by the Judicial functions of the European court of justice when they were found to conflict with European Community law and the Common Fisheries Policy which stated British waters were the EUs too. Part II dealt only with fishing vessels and was found to be repugnant by the European Court of Justice. The subsequent definition of British Ships is found in the Merchant Shipping Act 1995. See also *Merchant Shipping Act Merchant Shipping Act (with its variations) is a stock short title used in Malaysia and the United Kingdom for legislation relating to merchant shipping. Merchant shipping acts and regulations also exist as well in other countries, and they are so ... External links The text of the statut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
57 & 58 Vict
57 may refer to: * 57 (number) * one of the years 57 BC, AD 57, 1957, 2057 * "57" (song), a song by Biffy Clyro * "Fifty Seven", a song by Karma to Burn from the album ''Arch Stanton'', 2014 * "57" (album), a studio album by Klaus Major Heuser Band in 2014 * "57 Live" (album), a live double-album by Klaus Major Heuser Band in 2015 * Heinz 57 (varieties), a former advertising slogan * Maybach 57, an ultra-luxury car * American Base Hospital No. 57 * Swift Current 57's The Swift Current 57's (formerly the Swift Current Indians) are a baseball team based in Swift Current, Saskatchewan, Canada. The team is a member of the Western Canadian Baseball League (WCBL), a collegiate summer baseball Collegiate summer b ..., baseball team in the Western Canadian Baseball League * FN Five-seveN, a semi-automatic pistol * 57 Mnemosyne, a main-belt asteroid * Tatra 57, a compact car {{Numberdis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Shipping Act 1894
The Merchant Shipping Act 1894 ( 57 & 58 Vict. c. 60) was an act of the Parliament of the United Kingdom that consolidated enactments relating to merchant shipping in the United Kingdom. Background In the United Kingdom, acts of Parliament remain in force until expressly repealed. Blackstone's '' Commentaries on the Laws of England'', published in the late 18th-century, raised questions about the system and structure of the common law and the poor drafting and disorder of the existing statute book. In 1806, the Commission on Public Records passed a resolution requesting the production of a report on the best mode of reducing the volume of the statute book. From 1810 to 1825, ''The Statutes of the Realm'' was published, providing for the first time the authoritative collection of acts. By the early 19th century, British customs law, relating to trade, navigation, the import and export of goods, and the collection of customs revenue, had become increasingly intricate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hypothec
Hypothec (; , , from Lat. ''hypotheca'', from Gk. : hypothēkē), sometimes tacit hypothec, is a term used in civil law systems (e.g. the law of most of Continental Europe) to refer to a registered real security of a creditor over real estate, but under some jurisdictions it may additionally cover ships only (ship hypothec), as opposed to other collaterals, including corporeal movables other than ships, securities or intangible assets such as intellectual property rights, covered by a different type of right ( pledge). Common law has two main equivalents to the term: mortgages and non-possessory lien. Overview This real right in security operates by way of hypothecation. It may arise only through being entered into the land and hypothec register or the ship registry, as a result of: * a hypothecary loan contract, required in the form of a notarial act - in case of a contractual hypothec * an administrative or court decision - in case of a compulsory hypothec Hypothec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Law
A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. '' Hypothec'' is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien. A mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. The word is a Law French term meaning "dead pledge," originally only referring to the Welsh mortgage (''see below''), but in the later Middle Ages was applied to all gages and reinterpreted by folk etymology to mean that the pledge ends (dies) either when the obligati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law (legal system), civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "collateral (finance), secured" on the borrower's property through a process known as mortgage origination. This means that a Mortgage law, legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Legal professions in England and Wales, Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken throu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
