Statute · California Harbors and Navigation Code
Cal. Harb. & Nav. Code § 455 — Bottomry
Cal. Harb. & Nav. Code § 455
- Type
- Statute
- Source
- California Harbors and Navigation Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
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.
Citator
Cal. Harb. & Nav. Code § 455 — Bottomry is in force in the current edition of the Code, and nothing recorded condemns it.
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.