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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 vessel
  • —Louisiana Civil Code
— compare respondentia

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Origin and Etymology of bottomry

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

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