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8 3021. When master may hypothecate freight money. The master of a ship may hypothecate freightage upon bottomry, under the same circumstances as those which authorize an hypothecation of the ship by him. En. March 21, 1872.
$ 3022. Rate of interest. Upon a contract of bottomry, the parties may lawfully stipulate for a rate of interest higher than that allowed by the law upon other contracts. But a competent court may reduce the rate stipulated when it appears unjustifiable and exorbitant. En. March 21, 1872.
$ 3023. Rights of lender, when no necessity for bot. tomry existed. A lender upon a contract of bottomry, made by the master of a ship, as such, may enforce the contract, though the circumstances necessary to authorize the master to hypothecate the ship did not in fact exist, if, after due diligence and inquiry, the lender had rease ble grounds to believe, and id in good faith believe, in the existence of such circumstances. En. March 21, 1872.
$ 3024. Stipulation for personal liability void. A stipulation in a contract of bottomry, imposing any liability for the loan independent of the maritime risks, is void. En. March 21, 1872.
§ 3025. When money loaned is to be repaid. In case of a total loss of the thing hypothecated, from a risk to which the loan was subject, the lender upon bottomry can recover nothing; in case of a partial loss, he can recover only to the extent of the net value to the owner of the part saved. En. March 21, 1872.
$ 3026. When bottomry loan becomes due. Unless it is otherwise expressly agreed, a bottomry loan becomes due immediately upon the termination of the risk, although & term of credit is specified in the contract. En. March 21, 1872.
$ 3027. Bottomry lien, how lost. A bottomry lien is independent of possession, and is lost by omission to enforce it within a reasonable time. En. March 21, 1872.
$ 3028. Preference of bottomry lien over other liens, A bottomry lien, if created out of a real or apparent necessity, in good faith, is preferred to every other lien or claim upon the same thing, excepting only a lien for seamen's wages, a subsequent lien of materialmen for supplies or repairs indispensable to the safety of the ship, and a subsequent lien for salvage. En, March 21, 1872.
Seamen's wages: Ante, secs. 2048-2066.
8 3029. Priority of bottomry liens. Of two or more bottomry liens on the same subject, the latter in date has preference, if created out of necessity. En. March 21, 1872.
$ 3036. Respondentia, what.
3037. Respondentia by owner.
8 3036. Respondentia, what. Respondentia is a contract by which a cargo, or some part thereof, is hypothecated as security for a loan, the repayment of which is dependent on maritime risks. En. March 21, 1872.
$ 3037. Respondentia by owner. The owner of cargo may hypothecate it upon respondentia, at any time and place, and for any lawful purpose. En. March 21, 1872.
$ 3038. Respondentia by master. The master of a ship may hypothecate its cargo upon respondentia only in a case in which he would be authorized to hypothecate the ship and freightage, but is unable to borrow sufficient money thereon for repairs or supplies which are necessary for the successful accomplishment of the voyage; and he cannot do so, even in such case, if there is no reasonable prospect of benefiting the cargo thereby. En. March 21, 1872.
Master may sell cargo: Sec. 2379, ante.
8 3039. Rate of interest. The provisions of sections 3022 to 3029 apply equally to loans on respondentia. En. March 21, 1872.
$ 3040. Obligations of shipowner. The owner of a ship is bound to repay to the owner of its cargo all which the latter is compelled to pay under a contract of respondentia made by the master, in order to discharge its lien. En. March 21, 1872.
See sec. 2385, ante.
OTHER LIENS. $ 3046. Lien of seller of real property. 8 3047. When transfer of contract waives lien. § 3048. Extent of seller's lien. $ 3049. Lien of seller of personal property. 8 3050. Purchaser's lien on real property. $ 3051. Lien on personal property for service performed. g 3052. Liens on personal property. $ 3053. Lien of factor,
3054. Banker's lien. § 3055. Shipmaster's lien. $ 3056. Seamen's lien. $ 3057. Officers' lien. $ 3058. Judgment lien.
3059, Mechanic's lien. 3060. Lien on ships.
$ 3046. Lien of seller of real property. One who sells real property has a vendor's lien thereon, independent of possession, for so much of the price as remains unpaid and unsecured otherwise than by the personal obligation of the buyer. En. March 21, 1872. Cal.Rep.Cit. 57, 471; 87, 625; 89, 93; 98, 33; 116, 259;
119, 372; 119, 373; 123, 212; 125, 360. A transfer of personal security waives the lien: Sec. 3047, infra.
Transfer by vendee to bona fide purchaser or incumbrancer discharges lien: Sec. 3048, infra.
8 3047. When transfer of contract waives lien. Where a buyer of real property gives to the seller a written contract for payment of all or part of the price, an absolute transfer of such contract by the seller waives his lien to the extent of the sum payable under the contract, but a transfer of such contract in trust to pay debts, and return the surplus, is not a waiver of the lien. En, March 21,
Cal.Rep.Cit. 74, 585; 87, 625; 89, 93; 123, 212; 125, 360.
$ 3048. Extent of seller's lien. The liens defined in sections 3046 and 3050 are valid against every one claiming under the debtor, except a purchaser or incumbrancer in good faith and for value. En. March 21, 1872.
Cal.Rep.Cit. 125, 360.
$ 3049. Lien of seller of personal property. One who sells personal property has a special lien thereon, dependent on possession, for its price, if it is in his possession when the price becomes payable, and may enforce his lien in like manner as if the property was pledged to him for the price. En. March 21, 1872.
Cal.Rep.Cit. 77, 144 ; 94, 17; 106, 445 ; 121, 246.
§ 3050. Purchaser's lien on real property. One who pays to the owner any part of the price of real property, under an agreement for the sale thereof, has a special lien upon the property, independent of possession, for such part of the amount paid as he may be entitled to recover back, in case of a failure of consideration. En. March 21, 1872.
Cal.Rep.Cit. 87, 55 ; 103, 289; 103, 293; 113, 664; 125, 360.
$ 3051. Lien on personal property for service performed. Every person who, while lawfully in possession of an article of personal property, renders any service to the owner thereof, by labor or skill, employed for the protection, improvement, safekeeping, or carriage thereof, has a special lien thereon, dependent on possession, for the compensation, if any, which is due to him from the owner for such service; and livery or boarding or feed stable proprietors, and persons pasturing horses or stock, have a lien, dependent on possession, for their compensation in caring for, boarding, feeding, or pasturing such horses or stock; and laundry proprietors and persons conducting a laundry business have a general lien, dependent on possession, upon all personal property in their hands belong. ing to a customer, for the balance due them from such customer for laundry work. En. March 21, 1872. Am'd. 1877-8, 89; 1900-01, 270.
Cal.Rep.Cit. 53, 353; 100, 410; 121, 9.
8 3052. Liens on personal property. A person who makes, alters, or repairs any article of personal property, at the request of the owner, or legal possessor of the property, has a lien on the same for his reasonable charges for work done and materials furnished, and may retain possession of the same until the charges are paid. If not paid within two months after the work is done, the person may proceed to sell the property at public auction, by giving ten days' public notice of the sale by advertising in some newspaper published in the county in which the work was done; or, if there be no newspaper published in the county, then by posting up notices of the sale in three of the most public places in the town where the work was done, for ten days previous to the sale.
The proceeds of the sale must be applied to the discharge of the lien and the cost of keeping and selling the property; the remainder, if any, must be paid over to the owner thereof. En. March 21, 1872.
Cal.Rep.Cit. 92, 658; 121, 9.
Lien in favor of owner of propagating animal: See post, Appendix, title Liens.
8 3053. Lien of factor. A factor has a general lien, de pendent on possession, for all that is due to him as such, upon all articles of commercial value that are intrusted to him by the same principal. En. March 21, 1872.
Power of pledging: See sec. 2991, ante.
Commission merchant making advances may sell property, when: See Pol. Code, sec. 3156.
8 3054. Banker's lien. A banker has a general lien, de. pendent on possession, upon all property in nis hands belonging to a customer, for the balance due to him from such customer in the course of the business. En. March 21, 1872.
Cal.Rep.Cit. 63, 364.
$ 3055. Shipmaster's lien. The master of a ship has a general lien, independent of possession, upon the ship and freightage, for advances necessarily made or liabili. ties necessarily incurred by him for the benefit of the ship, but has no lien for his wages. En. March 21, 1872.