Implementation of material law principles in the ship mortgage guarantee legal system
Keywords:
Legal principles, collateral, ship mortgage, LawAbstract
This paper examines the implementation of material law principles in the ship mortgage guarantee legal system. This type of research is normative legal research and empirical legal research—determination of the sample purposively with data collection techniques through library research and interviews. The results of the discussion show that the ship mortgage is a material guarantee in order to provide guarantee for the repayment of the debtor's debt through the making of a mortgage deed by the Registrar Officer and the Registrar of Transferring the Name of the Ship at the place where the ship is registered. Ship mortgages as material guarantees are embedded in the principles of material law, namely the closed system principle, the principle of priority rights, the principle of material rights, the principle of specialty, the principle of publicity, and the principle of easy and certain execution.
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