Canadian English Meaning of bottomry
bottomry
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No Synonyms and anytonyms found
Nearest Words of bottomry
Definitions and Meaning of bottomry in English
bottomry (n.)
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.
FAQs About the word bottomry
bottomry
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 fr
No synonyms found.
No antonyms found.
bottommost => bottommost, bottomlessness => bottomlessness, bottomless => bottomless, bottomland => Bottomland, bottoming => bottom,
