A bottomry, or bottomage, is an arrangement in which the master of a ship borrows money upon the bottom or keel of it, so as to forfeit the ship itself to the creditor, if the money with interest is not paid at the time appointed at the ship`s safe return. This occurs, for example, where the ship needs urgent repairs during the course of its voya....
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http://en.wikipedia.org/wiki/Bottomry
Pledging a ship as security in a financial transaction.
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http://en.wikipedia.org/wiki/Glossary_of_nautical_terms
Pledging a ship as security in a financial transaction.
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http://en.wikipedia.org/wiki/Glossary_of_nautical_terms
using the ship as collateral to finance a sea voyage
Found on
http://phrontistery.info/b.html
using the ship as collateral to finance a sea voyage
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http://phrontistery.info/nautical.html
• (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 l...
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http://thinkexist.com/dictionary/meaning/bottomry/
a maritime contract (now almost obsolete) by which the owner of a ship borrows money for equipping or repairing the vessel and, for a definite term, ... [2 related articles]
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http://www.britannica.com/eb/a-z/b/98
(n) Bottomry is the contract of pledging the ship, vessel, freight etc as security for repayment of debts for machine, equipment, repair, lease of vessels etc
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http://www.encyclo.co.uk/local/21213
Bot'tom·ry noun [ From 1st
Bottom in sense 8: confer Dutch
bodemerij . Confer
Bummery .]
(Mar.Law) 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 securi...
Found on
http://www.encyclo.co.uk/webster/B/84
Maritime Law. A contract in nature of a mortgage of a ship on which the owner borrows money to enable him to fit out the ship, or to purchase a cargo for a voyage proposed: and he pledges the keel or bottom of the ship, pars pro toto, as a security for the repayment; and it is stipulated that if the ship should be lost in the course of the voyage b...
Found on
http://www.lectlaw.com/def/b109.htm
Bottomry is a term for money advanced to a ship owner or his agent in the course of a voyage, for the use of a ship and on the security of a ship, the repayment of which is conditional on the ship reaching its destination.
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http://www.probertencyclopaedia.com/browse/JB.HTM
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.
Found on
https://www.infoplease.com/dictionary/bottomry
No exact match found.
