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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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Dictionary: Definition of bottomry
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