Dictionary Entry
bottomry
bottomry is a 8-letter English word with 1 sense as noun in the JumbleFix dictionary. One common meaning is: 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. Face value is 15 in Scrabble and 16 in Words With Friends. Use the entries below when you need a playable sense, a nearby word, or another arrangement of the same letters.
8 letters · Scrabble 15 · Words With Friends 16 · 1 sense
Definitions
- 1noun
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.
Common word forms
Words from these letters
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