BOTTOMRY

BOTTOMRY

bottomry. Maritime law. A contract by which a shipowner pledges the ship as security for a loan to finance a voyage (as to equip or repair the ship), the lender losing the money if the ship is lost during the voyage. ? The term refers to the idea that the shipowner pledges the ship’s bottom, or keel. Cf. RESPONDENTIA. [Cases: Shipping 88. C.J.S. Shipping ¡ì 221.]
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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.