bottomry
[ bot-uhm-ree ]
/ ˈbɒt əm ri /
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noun, plural bot·tom·ries.Marine Law.
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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British Dictionary definitions for bottomry
bottomry
/ (ˈbɒtəmrɪ) /
noun plural -ries
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
Word Origin for bottomry
C16: from Dutch bodemerij, from bodem bottom (hull of a ship) + -erij -ry
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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