Loan to the great fortune

The loan to the large ventura (from Latin: nauticum Fœnus) is a variant of the contract of mutual, which consists of the lender deliver money or other fungible goods to a shipping company to do maritime transport, being obliged the shipper to pay the If the voyage ended on a happy arrival at port, otherwise, if the ship is shipwrecked or does not arrive at port, nothing owes the shipowner to the lender (losing capital and interest).

In reverse of what happens in an ordinary mutual, the risks are borne by the lender (lender), but only from the beginning until the end of the journey. Before and after the common mutual rules apply. Background

The Greeks invented this system of loan, passing to Rome with the name of nauticum fœnus (nauticvm: navigation and foenus: interest of money borrowed).

The most famous case of loan to the great fortune is that which was stipulated between Isabel the Catholic and Christopher Columbus in the Capitulations of Santa Fe.

This institution is one of the antecedents of the current insurance contract. Nature and characteristics

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