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Noah Webster's 1828 American Dictionary
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In my view, the Christian religion is the most important and one of the first things in which all children, under a free government ought to be instructed... No truth is more evident to my mind than that the Christian religion must be the basis of any government intended to secure the rights and privileges of a free people. Preface to 1828 Dictionary
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1828 Definition
HYPOTHECA'TION, n. The act of pledging, as a ship or goods, for the repayment of money borrowed to carry on a voyage; otherwise called bottomry.
1913 Definition
The
act or contract by which property is hypothecated; a right which a
creditor has in or to the property of his debtor, in virtue of which
he may cause it to be sold and the price appropriated in payment of
his debt. This is a right in the thing, or jus in re.
Pothier. B. R. Curtis.
There are but few cases, if any, in our law, where an hypothecation, in the strict sense of the Roman law, exists; that is a pledge without possession by the pledgee. Story. * In the modern civil law, this contract has no application to movable property, not even to ships, to which and their cargoes it is most frequently applied in England and America. See Hypothecate. B. R. Curtis. Domat. 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.
* This term is often applied to mortgages of ships. | ||||||||
