1778-01-26 (static/transcriptions/1778/01/027.jpg)

1778. 1 Term. [Monday] Jan: 26.

There are no authorities expressly in point to this case, because the practice is unknown in England and peculiar to this Country. To this Impey answer’d that it was known in Holland, and that there was an ordinance of Amsterdam concerning the giving bills of Exchange for Respondentia Bonds.
I find definitions in Beawes’s Lex Mercatoria, and in Postlethwaits Dictionary of Insurance and Bottomry and Respondentia more clear than I have been able to find in Law Books.
I conceive this transaction does not come under the description of Re-assurance; nor of Fraud in concealing a material circumstance of the Risk.

Mr. Morse. On the same side.
These exchanged Bonds as they are here call’d, are very frequent transactions and nothing fraudulent in them, the Court will therefore if possible encourage this transaction and support this Insurance, for if the Court determine, the lender can not insure, it will put an end to this Practice. Every Respondentia has the
/ effect