Bottomry

Business, Legal & Accounting Glossary

Definition: Bottomry



What is the dictionary definition of Bottomry?

Dictionary Definition


n. a mortgage contract in which a ship and/or its freight is pledged as security for a loan for equipment, repair, or use of a vessel. The contract is generally called a “bottomry bond.” If the loan is not paid back, the lender can sell the ship and/or its freight.


Cite Term


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Page URL
https://payrollheaven.com/define/bottomry/
Modern Language Association (MLA):
Bottomry. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. May 13, 2021 https://payrollheaven.com/define/bottomry/.
Chicago Manual of Style (CMS):
Bottomry. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/bottomry/ (accessed: May 13, 2021).
American Psychological Association (APA):
Bottomry. PayrollHeaven.com. Retrieved May 13, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/bottomry/

Definition Sources


Definitions for Bottomry are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.