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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