English definition of Hypothecation

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Definition of hypothecation

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Hypothecation (n.) 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..

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Pledge :: Pledge (n.) A hypothecation without transfer of possession.

Hypothecate :: Hypothecate (v. t.) To subject, as property, to liability for a debt or engagement without delivery of possession or transfer of title; to pledge without delivery of possession; to mortgage, as ships, or other personal property; to make a contract by bottomry. See Hypothecation, Bottomry..

Hypothecation :: Hypothecation (n.) 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..

Hypothecation :: Hypothecation (n.) 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..