California Harbors and Navigation Code 455 – Upon a contract of bottomry, the parties may lawfully stipulate for a …
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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.
(Enacted by Stats. 1937, Ch. 368.)
Terms Used In California Harbors and Navigation Code 455
- Contract: A legal written agreement that becomes binding when signed.