Canadian English Meaning of bottomry

bottomry

Other Canadian English words related to bottomry

No Synonyms and anytonyms found

Definitions and Meaning of bottomry in English

Webster

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,