hypothecation
Noun
Meaning
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.
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.
Source: Webster's dictionarySynonyms
gage
right
lien
guaranty
security
charge
claim
bond
loan
guarantee
pawn
pledge
collateral
mortgage
monkey
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