bottomry

Definitions


[ˈbɒtəmri], (Noun)

Definitions:
- a system of merchant insurance in which a ship is used as security against a loan to finance a voyage, the lender losing their money if the ship sinks


Phrases:

Origin:
late 16th century: from bottom (in the sense ‘ship’) + -ry, influenced by Dutch bodemerij




definition by Oxford Dictionaries