ACCOMENDA

1 definition found

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  ACCOMENDA, mar. law. In Italy, is a contract which takes place when an
  individual entrusts personal property with the master of a vessel, to be
  sold for their joint account.  In such case, two contracts take place;
  first, the contract called mandatum, by which the owner of the property
  gives the master power to dispose of it, and the contract of partnership, in
  virtue of which, the profits are to be divided between them.  One party runs


  the risk of losing his capital, the other his labor.  If the sale produces
  no more than first cost, the owner takes all the proceeds; it is only the
  profits which are to be divided. Emer. on Mar. Loans, B. 5.