Code Section Group

Harbors and Navigation Code - HNC

DIVISION 3. VESSELS [399 - 786]

  ( Division 3 enacted by Stats. 1937, Ch. 368. )

CHAPTER 2. Civil Actions and Liens [450 - 509]

  ( Heading of Chapter 2 amended by Stats. 1970, Ch. 1341. )

ARTICLE 2. Respondentia [470 - 474]
  ( Article 2 enacted by Stats. 1937, Ch. 368. )

470.
  

Respondentia is a contract by which all or part of a cargo is hypothecated as security for a loan, the repayment of which is dependent on maritime risks.

(Enacted by Stats. 1937, Ch. 368.)

471.
  

The owner of cargo may hypothecate it upon respondentia, at any time and place, and for any purpose.

(Enacted by Stats. 1937, Ch. 368.)

472.
  

The master of a vessel may hypothecate its cargo upon respondentia only if all of the following conditions exist:

(a) He would be authorized to hypothecate the vessel and freightage.

(b) He is unable to borrow sufficient money on the vessel and freightage for repairs or supplies which are necessary for the successful accomplishment of the voyage.

(c) There is a reasonable prospect of benefiting the cargo.

(Enacted by Stats. 1937, Ch. 368.)

473.
  

The owner of a vessel is bound to repay to the owner of its cargo all which the latter is compelled to pay in order to discharge a lien under a contract of respondentia made by the master.

(Enacted by Stats. 1937, Ch. 368.)

474.
  

The provisions of sections 455 to 462 of this code apply equally to loans on respondentia.

(Enacted by Stats. 1937, Ch. 368.)

HNCHarbors and Navigation Code - HNC2