California Harbors and Navigation Code

§ 455

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

HNC § 455Div. 3 · Ch. 2 · Art. 1

Statute text

View on leginfo.ca.gov

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.

Legislative history

Enacted by Stats. 1937, Ch. 368.