gemi ödüncü

listen to the pronunciation of gemi ödüncü
Turkish - English
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{n} a borrowing of money, and pledgingp a ship to secure the repayment
{i} mortgaging of a ship to finance a voyage
If the ship is lost by perils of the sea, the lender loses the money; but if the ship arrives safe, he is to receive the money lent, with the interest or premium stipulated, although it may, and usually does, exceed the legal rate of interest
an early form of maritime contract in which money could be borrowed by the owner of a ship using the ship as collateral
A contract in the nature of a mortgage, by which the owner of a ship, or the master as his agent, hypothecates and binds the ship (and sometimes the accruing freight) as security for the repayment of money advanced or lent for the use of the ship, if she terminates her voyage successfully
gemi ödüncü
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