California Law (Last Updated: March 4, 2014) |
Harbors and Navigation Code - HNC |
Division 3. VESSELS |
Chapter 2. Civil Actions and Liens |
ARTICLE 1. Bottomry |
Section 458.
Latest version.
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If there is a total loss of the thing hypothecated, from a risk to which the loan was subject, the lender upon bottomry can recover nothing; if a partial loss, he can recover only to the extent of the net value to the owner of the part saved.
(Enacted by Stats. 1937, Ch. 368.)