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



RESET




Word of the Day

18 April 2025

GROIN

(noun) the crease at the junction of the inner part of the thigh with the trunk together with the adjacent region and often including the external genitals


coffee icon

Coffee Trivia

International Coffee Day (September 29) is an occasion to promote and celebrate coffee as a beverage, with events occurring in places across the world. A day to promote fair trade coffee and raise awareness for the coffee growers’ plight. Other countries celebrate this event on October 1.

coffee icon