INTEREST, MARITIME². By maritime interest is understood the profit of money lent on bottomry or respondentia, which is allowed to be greater than simple interest because the capital of the lender is put in jeopardy³. There is no limit by law as to the amount which may be charged for maritime interest. It is fixed⁴ generally by the agreement of the parties.

2. The French writers employ a variety of terms in order to distinguish if according to the nature of the case. They call it interest, when it is stipulated⁵ to be paid by the month, or at other stated periods. It is a premium⁶, when a gross sum is to be paid at the end of the voyage, and here the risk is the principal object they have in view. When the sum is a per centage on the money lent, they call it exchange, considering it in the light of money lent at one place to be returned in another, with a difference in amount between the sum borrowed and that which is paid, arising from the difference of time and place. When they intend to combine these various shades into one general denomination⁷, they make use of the term maritime profit, to convey their meaning. Hall on Mar¹. Loans, 56, n.

INTERIM⁸. In the mean time; in the meanwhile. For example, one appointed between the time that a person is made bankrupt, to act in the place of the assignee until the assignee shall be appointed, is an assignee ad interim. 2 Bell's Com. 355.

INTERLINEATION, contracts, evidence. Writing between two lines.

2. Interlineations are made either before or after the execution of an instrument. Those made before should be noted⁹ previously¹⁰ to its execution; those made after are made either by the party in whose favor they are, or by strangers.

3. When made by the party himself, whether the interlineation be material or immaterial, they render the deed void; 1 Gall¹¹. Rep. 71; unless made with the consent of the opposite party. Vide 11 Co. 27 a: 9 Mass. Rep. 307; 15 Johns. R. 293; 1 Dall. R. 57; 1 Halst. R. 215; but see 1 Pet. C. C. R. 364; 5 Har. & John; 41; 2 L. R. 290; 2 Ch. R. 410; 4 Bing. R. 123; Fitzg. 207, 223; Cov. on Conv. Ev. 22; 2 Barr. 191.

4. When the interlineation is made by a stranger, if it be immaterial, it will not vitiate the instrument, but if it be material, it will in general avoid it. Vide Cruise, Dig. tit. 32, c. 26, s. 8; Com. Dig. Fait, F 1.

5. The ancient rule, which is still said to be in force, is, that an alteration¹² shall be presumed to have been made before the execution of the instrument. Vin. Ab. Evidence, Q, a 2; Id. Faits, U; 1 Swift's Syst. 310; 6 Wheat. R. 481; 1 Halst. 215. But other cases hold the presumption¹³ to be that a material interlineation was made after the execution of an instrument, unless the contrary be proved. 1 Dall. 67. This doctrine¹⁴ corresponds nearly with the rules of the canon law on this subject. The canonists have examined it with care. Vide 18 Pick. R. 172; Toull. Dr. Civ. Fr. liv. 3, t. 3, c. 4, n. 115, and article Erasure¹⁵.