bottomry

noun
bot·​tom·​ry | \ ˈbä-təm-rē \

Legal Definition of bottomry

: 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 vesselLouisiana Civil Code — compare respondentia

History and Etymology for bottomry

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

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Cite this Entry

“Bottomry.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/bottomry. Accessed 20 Apr. 2021.

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