Cal. Harb. and Nav. Code § 458

Current through the 2023 Legislative Session.

Section 458 - Total loss of thing hypothecated from risk to which loan subject; partial loss

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.

Ca. Harb. and Nav. Code § 458

Enacted by Stats. 1937, Ch. 368.