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bottomry

[bot-uhm-ree]

bot·tom·ry

[bot-uhm-ree]
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.

Origin:
1615–25; modeled on Dutch bodemerij, equivalent to bodem bottom + -erij -ry
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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Bottomry is always a great word to know.
So is quincunx. Does it mean:
an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle.
a scrap or morsel of food left at a meal.
Collins
World English Dictionary
bottomry (ˈbɒtəmrɪ)
 
n , pl -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
 
[C16: from Dutch bodemerij, from bodembottom (hull of a ship) + -erij-ry]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Encyclopedia Britannica
Encyclopedia

bottomry

a maritime contract (now almost obsolete) by which the owner of a ship borrows money for equipping or repairing the vessel and, for a definite term, pledges the ship as security-it being stipulated that if the ship be lost in the specified voyage or period, by any of the perils enumerated, the lender shall lose his money. A similar contract creating a security interest in the cargo is called a respondentia.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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