Law of Ship Mortgages
Page 1
CHAPTER 1
Historical introduction
1.1 Background
1.1.1
Coote on Mortgages
1 says of ship mortgages: ‘No species of mortgage security requires greater circumspection than that we are about to consider.’ The objective of this book is to set out circumspectly the modern law of ship mortgages. The risks of lending against the security of ships were noted in a nineteenth century Scottish case:2