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 § 221.]

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词条贡献者

译员蓉婧，欧洲知名商学院国际金融专业，专注翻译各种与美国证券法律有关的法律文件。