Development of Security Instruments of Maritime Loans on the Eastern Adriatic Coast, with Particular Reference to the Ordinance-Law on Property Rights on Ships and Maritime Liens from 1939
Development of Security Instruments of Maritime Loans on the Eastern Adriatic Coast, with Particular Reference to the Ordinance-Law on Property Rights on Ships and Maritime Liens from 1939

Summary/Abstract: This work provides a chronological overview of the development of pledge rights in the shipping industry, with particular reference to the area of the Mediterranean i.e. the eastern Adriatic coast. The work elaborates the means of security of maritime loans, from foenus nauticum to hypotheque. A special emphasis has been put on the solutions provided by the Ordinance-law on Property Rights on Ships and Maritime Liens from 1939. This Ordinance was the first to introduce the institute of ship hypotheque as a favourable means of long-term lending in the shipping industry and as one of the basic prerequisites for its unobstructed development. The legal solutions from the Ordinance create a significant basis for the further upgrade of regulations in the field of pledge rights on ships and are a kind of predecessor of contemporary legislation in this field on the territory of the eastern Adriatic coast.

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