bottomry

bottomry

bottomry, sometimes also known as bummaree, is a long defunct term for a mortgage on a ship executed by a master who was out of touch with his owners and needed to raise money for repairs to complete a voyage. Money raised by bottomry had to be used only for the exact purpose stated and was always primarily for getting a ship back to its port of registry. A bottomry bond took priority over all other mortgages, but if the ship was lost at sea before the voyage was completed the lender lost his bond. Samuel Pepys (Diary, 30 Nov. 1663) has the word as bottomaryne; another variant spelling is bottomarie.

See also respondentia.

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"bottomry." The Oxford Companion to Ships and the Sea. 2006. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>.

"bottomry." The Oxford Companion to Ships and the Sea. 2006. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1O225-bottomry.html

"bottomry." The Oxford Companion to Ships and the Sea. 2006. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O225-bottomry.html

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Bottomry

BOTTOMRY

A contract, in maritime law, by which money is borrowed for a specified term by the owner of a ship for its use, equipment, or repair for which the ship is pledged as collateral. If the ship is lost in the specified voyage or during the limited time, the lender will lose his or her money according to the provisions of the contract. A contract by which a ship or its freight is pledged as security for a loan, which is to be repaid only in the event that the ship survives a specific risk, voyage, or period.

A bottomry bond is the instrument that embodies the contract or agreement of bottomry.

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"Bottomry." West's Encyclopedia of American Law. 2005. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>.

"Bottomry." West's Encyclopedia of American Law. 2005. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1G2-3437700594.html

"Bottomry." West's Encyclopedia of American Law. 2005. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-3437700594.html

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bottomry

bottomry borrowing on the security of a ship. XVI. — Du. bodemerij, f. bodem BOTTOM; see -RY.

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T. F. HOAD. "bottomry." The Concise Oxford Dictionary of English Etymology. 1996. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>.

T. F. HOAD. "bottomry." The Concise Oxford Dictionary of English Etymology. 1996. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1O27-bottomry.html

T. F. HOAD. "bottomry." The Concise Oxford Dictionary of English Etymology. 1996. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O27-bottomry.html

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bottomry

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pulsatory, purificatory, reificatory, revelatory, rotatory •natatory • elucidatory • castigatory •mitigatory • justificatory •imprecatory • equivocatory •flagellatory • execratory • innovatory •eatery, excretory •glittery, jittery, skittery, twittery •benedictory, contradictory, maledictory, valedictory, victory •printery, splintery •consistory, history, mystery •presbytery •inhibitory, prohibitory •hereditary • auditory • budgetary •military, paramilitary •solitary • cemetery • limitary •vomitory • dormitory • fumitory •interplanetary, planetary, sanitary •primogenitary • dignitary •admonitory, monitory •unitary • monetary • territory •secretary • undersecretary •plebiscitary • repository • baptistery •transitory •depositary, depository, expository, suppository •niterie •Godwottery, lottery, pottery, tottery •bottomry • watery • psaltery •coterie, notary, protonotary, rotary, votary •upholstery •bijouterie, charcuterie, circumlocutory •persecutory • statutory • salutary •executory •contributory, retributory, tributary •interlocutory •buttery, fluttery •introductory • adultery • effrontery •perfunctory • blustery • mediatory •retaliatory • conciliatory • expiatory •denunciatory, renunciatory •appreciatory, depreciatory •initiatory, propitiatory •dietary, proprietary •extenuatory •mandatary, mandatory •predatory • sedentary • laudatory •prefatory • offertory • negatory •obligatory •derogatory, interrogatory, supererogatory •nugatory •expurgatory, objurgatory, purgatory •precatory •explicatory, indicatory, vindicatory •confiscatory, piscatory •dedicatory • judicatory •qualificatory • pacificatory •supplicatory •communicatory, excommunicatory •masticatory • prognosticatory •invocatory • obfuscatory •revocatory • charlatanry •depilatory, dilatory, oscillatory •assimilatory • consolatory •voluntary • emasculatory •ejaculatory •ambulatory, circumambulatory, perambulatory •regulatory •articulatory, gesticulatory •manipulatory • copulatory •expostulatory • circulatory •amatory, declamatory, defamatory, exclamatory, inflammatory, proclamatory •crematory • segmentary •lachrymatory •commentary, promontory •informatory, reformatory •momentary •affirmatory, confirmatory •explanatory • damnatory •condemnatory •cosignatory, signatory •combinatory •discriminatory, eliminatory, incriminatory, recriminatory •comminatory • exterminatory •hallucinatory • procrastinatory •monastery • repertory •emancipatory • anticipatory •exculpatory, inculpatory •declaratory, preparatory •respiratory • perspiratory •vibratory •migratory, transmigratory •exploratory, laboratory, oratory •inauguratory • adjuratory •corroboratory • reverberatory •refrigeratory • compensatory •desultory • dysentery •exhortatory, hortatory •salutatory • gustatory • lavatory •inventory •conservatory, observatory •improvisatory •accusatory, excusatory •lathery •feathery, heathery, leathery •dithery, slithery •carvery •reverie, severy •Avery, bravery, knavery, quavery, Savery, savory, savoury, slavery, wavery •thievery •livery, quivery, shivery •silvery •ivory, salivary •ovary •discovery, recovery •servery • equerry • reliquary •antiquary • cassowary • stipendiary •colliery • pecuniary • chinoiserie •misery • wizardry • citizenry •advisory, provisory, revisory, supervisory •causerie, rosary

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"bottomry." Oxford Dictionary of Rhymes. 2007. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>.

"bottomry." Oxford Dictionary of Rhymes. 2007. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1O233-bottomry.html

"bottomry." Oxford Dictionary of Rhymes. 2007. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O233-bottomry.html

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