See Also: ACCOMENDA, mar(law)

ACCOMENDA, mar (law)


ACCOMENDA, mar. law. In Italy, is a contract which takes place when anindividual entrusts personal property with the master of a vessel, to beindividual entrusts personal property with the master of a vessel, to besold for their joint account. In such case, two contracts take place;sold for their joint account. In such case, two contracts take place;first, the contract called mandatum, by which the owner of the propertyfirst, the contract called mandatum, by which the owner of the propertygives the master power to dispose of it, and the contract of partnership, ingives the master power to dispose of it, and the contract of partnership, invirtue of which, the profits are to be divided between them. One party runsvirtue of which, the profits are to be divided between them. One party runsthe risk of losing his capital, the other his labor. If the sale producesthe risk of losing his capital, the other his labor. If the sale producesno more than first cost, the owner takes all the proceeds; it is only theno more than first cost, the owner takes all the proceeds; it is only theprofits which are to be divided. Emer. on Mar. Loans, B. 5.profits which are to be divided. Emer. on Mar. Loans, B. 5.