Bottomry (noun) Definition, Meaning & Examples

noun, plural bot·tom·ries.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.
noun plural -ries
  1. 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
Bottomry (noun) Definition, Meaning & Examples

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