maritime loan

Maritime \Mar"i*time\ (m[a^]r"[i^]*t[imac]m, formerly
   m[a^]r"[i^]*t[i^]m; 277), a. [L. maritimus, fr. mare the sea:
   cf. F. maritime. See {Mere} a pool.]
   1. Bordering on, or situated near, the ocean; connected with
      the sea by site, interest, or power; having shipping and
      commerce or a navy; as, maritime states. "A maritime
      town." --Addison.
      [1913 Webster +PJC]

   2. Of or pertaining to the ocean; marine; pertaining to
      navigation and naval affairs, or to shipping and commerce
      by sea. "Maritime service." --Sir H. Wotton.
      [1913 Webster]

   {Maritime law}. See {Law}.

   {Maritime loan}, a loan secured by bottomry or respodentia
      bonds.

   {Martime nations}, nations having seaports, and using the sea
      more or less for war or commerce.
      [1913 Webster] Maritime provinces
    

MARITIME LOAN. A contract or agreement by which one, who is the lender, 
lends to another, who is the borrower, a certain sum of money, upon 
condition that if the thing upon which the loan has been made, should be 
lost by any peril of the sea, or vis major, the lender shall not be repaid, 
unless what remains shall be equal to the sum borrowed; and if the thing 
arrive in safety, or in case it shall not have been injured, but by its own 
defects or the fault of the master or mariners, the borrower shall be bound 
to return the sum borrowed, together with a certain sum agreed upon as the 
price of the hazard incurred. Emer. Mar. Loans, c. 1, s. 2; Poth. h.t. Vide 
Bottomry; Gross Adventure; Interest, maritime; Respondentia.