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tabula in naufragio
Engl. law. Literally a plank in a wreck. This figure has been used to denote the condition of a third mortgagee, who obtained his mortgage without any knowledge of a second mortgage, and then, being puisne, takes the first encumbrance; in this case he shall squeeze out and have satisfaction before the second. 2 Ves. 573; 2 Fonbl. Eq. B. 3, c. 2, §2; 2 Ventr. 337; 1 Ch. Cas. 162; 1 Story, Eq. §§414, 415; and Tacking.
Source : Bouvier 1856
Language : English