Investopedia

Maritime Law

Dictionary Says

Definition of 'Maritime Law'

A body of laws, conventions and treaties that governs international private business or other matters involving ships, shipping or crimes occurring on open water. Laws between nations governing such things as national versus international waters are considered public international law and are known as the Law of the Seas.

Also known as "admiralty law".
Investopedia Says

Investopedia explains 'Maritime Law'

In most developed nations, maritime law is governed by a separate code and is a separate jurisdiction from national laws. The United Nations, through the International Maritime Organization, has issued numerous conventions that can be enforced by the navies and coast guards that have signed the treaty outlining these rules. Maritime law governs many of the insurance claims relating to ships and cargo, civil matters between shipowners, seamen and passengers, and piracy.

Articles Of Interest

  1. What Is International Trade?

    Everyone's talking about globalization, so we explain what is it and why some oppose it.
  2. Globalization: Progress Or Profiteering?

    Proponents of globalization argue that it helps the economies of developing nations and makes goods cheaper, while critics say that globalization reduces domestic jobs and exploits foreign workers. ...
  3. What Is The World Trade Organization?

    The WTO sets the global rules of trade. But what exactly does it do and why do so many oppose it?
  4. NAFTA's Winners And Losers

    Read on to find out who this free-trade agreement helped, and who it hurt.
  5. Why The Consumer Price Index Is Controversial

    Find out why economists are torn about how to calculate inflation.
  6. Predict Inflation With The Producer Price Index

    Find out how the PPI can be used to gauge the overall health of the economy.
  7. Leading Economic Indicators Predict Market Trends

    Leading indicators help investors to predict and react to where the market is headed.
  8. Austerity: When The Government Tightens Its Belt

    When a government tightens its belt in tough economic times the entire nation feels the squeeze.
  9. Will Quantitative Easing Be Japan's Savior?

    The quantitative easing program, recently announced by the new governor of the Bank of Japan, Haruhiko Kuroda, is for a cash infusion of $1.4 trillion by the end of 2014. Will it help the Japanese ...
  10. Inspecting A Country's Debt

    Tensions over just how to handle debt are pitting the rich world against the developing world like never before.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
  2. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
  3. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
  4. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.
  5. Consequential Loss

    The amount of loss incurred as a result of being unable to use business property or equipment.
  6. Lease To Own

    An arrangement where an individual enters into a lease agreement with an owner with the inclusion of a clause that typically gives the individual the right, but not the obligation, to purchase the item leased at a predefined price and time.
Trading Center