Bottomries

/ˈbɒtəmriz/ noun

Definition

Plural of bottomry; multiple instances of mortgaging ships or their cargo as security for loans.

Etymology

Plural form of 'bottomry' (from Middle Dutch bodemrij, literally 'bottom-journey'), used in maritime and legal English since the medieval period.

Kelly Says

Bottomries were so common in medieval and Renaissance ship finance that specialized maritime courts developed just to handle disputes when vessels sank with borrowed money still owed—early insurance law!

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