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bottomry

[bot-uh m-ree] /ˈbɒt əm ri/
noun, plural bottomries. Marine Law.
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.
Origin
1615-1625
1615-25; modeled on Dutch bodemerij, equivalent to bodem bottom + -erij -ry
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for bottomry

bottomry

/ˈbɒtəmrɪ/
noun (pl) -ries
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
Word Origin
C16: from Dutch bodemerij, from bodembottom (hull of a ship) + -erij-ry
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Encyclopedia Article for 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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Word Value for bottomry

15
16
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