Review article
Mortgage on Ship in English and American Maritime Law
Jelena Nikčević Grdinić
; Fakultet za pomorstvo, Kotor
Abstract
In this article the author deals with the problem of mortgage on ship in English and American law. First of all, he gives
an overview of the legal institution mortgage and its regulation in compliance with relevant international conventions.
After that, he analyzes in detail mortgage in English and American legal system. The article explains the mortgage in
its original common law form, as very suitable instrument used to secure long term credit in the business of shipping,
even before it was legalized throught the corespodent legal acts both in English and American law. Later on, it lead to
the broad acceptance in maritime law as one instrument suitable for reimbursement of long terms debts. The author
as well discusses the difference between hypothecate as the continental institution to secure the long term credit in
shipping business and the mortgage and concludes that many European and other countries recently have been in
favor for acceptance of special issues of English and American mortgage as the right of deposession of the vessel
and so on.
Keywords
mortgage on ship; pledge; legal and common law mortgage; establish mortgage and execution of mortgage
Hrčak ID:
38619
URI
Publication date:
13.6.2009.
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