Bottomry Synonyms & Definitions

Synonyms are words that have the same or almost the same meaning and the definition is the detailed explanation of the word. This page will help you out finding the Definition & Synonyms of hundreds of words mentioned on this page. Check out the page and learn more about the English vocabulary.

• BottomryDefinition & Meaning in English

1. (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.