Bottomry



a contract, of the nature of a mortgage, by which the owner of a ship borrows money to make a voyage, pledging the ship as security.
Historical Examples

Encyclopaedia Britannica, 11th Edition, Volume 14, Slice 6 Various
Encyclopaedia Britannica, 11th Edition, Volume 5, Slice 8 Various
Encyclopaedia Britannica, 11th Edition, Volume 4, Slice 3 Various
Blackwood’s Edinburgh Magazine, No. CCCXXIX. Various
Encyclopaedia Britannica, 11th Edition, Volume 16, Slice 5 Various
Encyclopaedia Britannica, 11th Edition, Volume 4, Slice 3 Various
The Sailor’s Word-Book William Henry Smyth

noun (pl) -ries
(maritime law) a contract whereby the owner of a ship borrows money to enable the vessel to complete the voyage and pledges the ship as security for the loan

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