BOTTOMRY

Etymology

Noun

bottomry (plural bottomries)

(nautical) An early form of maritime contract in which owner of a ship could borrow money using the ship as collateral.

Source: Wiktionary


Bot"tom*ry, n. Etym: [From 1st Bottom in sense 8: cf.D. bodemerij. Cf. Bummery.] (Mar.Law)

Definition: A contract in the nature of a mortgage, by which the owner of a ship, or the master as his agent, hypothecates and binds the ship (and sometimes the accruing freight) as security for the repayment of money advanced or lent for the use of the ship, if she terminates her voyage successfully. If the ship is lost by perils of the sea, the lender loses the money; but if the ship arrives safe, he is to receive the money lent, with the interest or premium stipulated, although it may, and usually does, exceed the legal rate of interest. See Hypothecation.

Source: Webster’s Unabridged Dictionary 1913 Edition



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Word of the Day

29 June 2025

ADMIRABLE

(adjective) deserving of the highest esteem or admiration; ā€œan estimable young professorā€; ā€œtrains ran with admirable precisionā€; ā€œhis taste was impeccable, his health admirableā€


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Coffee Trivia

The average annual yield from one coffee tree is the equivalent of 1 to 1 1/2 pounds of roasted coffee. It takes about 4,000 hand-picked green coffee beans to make a pound of coffee.

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