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Law Dictionary

bottomry

noun bot·tom·ry \ˈbä-təm-rē\

Legal Definition of bottomry

  1. :  a contract under which the owner of a ship pledges the ship as collateral for a loan to finance a journey <money lent on bottomry for…equipping the vessel — Louisiana Civil Code> — compare respondentia



Origin and Etymology of bottomry

alteration of earlier bottomary, modification of Dutch bodemerij, from bodem bottom, hull, ship


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