bottomry

American  

[bot-uhm-ree] / ˈbɒt əm ri /

noun

Marine Law.

bottomries plural

1. a contract, of the nature of a mortgage, by which the owner of a ship borrows money to make a voyage, pledging the ship as security.

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bottomry British  

/ ˈbɒtəmrɪ /

noun

1. maritime law a contract whereby the owner of a ship borrows money to enable the vessel to complete the voyage and pledges the ship as security for the loan

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Other Word Forms

Noun Inflected Forms

• bottomries
  plural

Etymology

Origin of bottomry

1615–25; modeled on Dutch bodemerij, equivalent to bodem bottom + -erij -ry

Example Sentences

See Examples For:

bottomry

It includes numerous clauses devoted to the topic of "bottomry", a kind of maritime insurance bundled together with a business loan.

From BBC ● Mar. 19, 2017

Increased facility of communication, by telegraph and otherwise, has given additional stringency to this rule, and caused a decline in the practice of giving bottomry bonds.

From Encyclopaedia Britannica, 11th Edition, Volume 4, Slice 3 "Borgia, Lucrezia" to "Bradford, John" by Various

If the lender has originally advanced the funds on the personal credit of the owner he is not entitled to require a bottomry obligation.

From Encyclopaedia Britannica, 11th Edition, Volume 4, Slice 3 "Borgia, Lucrezia" to "Bradford, John" by Various

It is usually effected by a bottomry bond.

From The Gutenberg Webster's Unabridged Dictionary Section F, G and H by Project Gutenberg

And as he every day received proposals from those brokers whom he had employed, about the disposal of his cash, he at length ventured fifteen hundred pounds upon bottomry, being tempted by the excessive premium.

From The Adventures of Peregrine Pickle by Smollett, T. (Tobias)