1. The hypothecation contract goes into effect as of the date the hypothecated shares are recorded in the stock ledger.

2. Bottomry, a maritime contract by which a ship (or bottom) is hypothecated in security for money borrowed for expenses incurred in the course of her voyage, under the condition that if she arrive at her destination the ship shall be liable for repayment of the loan, together with such premium thereon as may have been agreed for; but that if the ship be lost, the lender shall have no claim …