Bottomry

Bottomary, Bottomree. putch bomerie, bodem>ery; Germ, bolmmrei; L. Fr. bottomage; Fr. contrat a la grosse aventure; Lat. fcenus nauticum, pecunia trajectitia.] In maritime law. An agreement entered into by the owner of a ship, or [the master as] his agent, whereby, m consideration of a sum of money advuiced for the use of the ship, the borrower undertakes to repay the same with interest, if the ship terminate her voyage successfully, and binds or hypothecates the ship for the performance of his contract.

Smith's Merc. Law, 261.

The instrument by which this is effected is usually in the shape of a bond, called a bottomry bond, which is in the nature of a mortgage of the vessel, and is defined by Mr. Justice Story to be " a contract for a loan of money on the bottom of the ship, at an extraordinary interest^ upon maritime risks, to be borne by the lender, for a voyage, or for a definite period."

2 Sumner's B. 167, 186.

Smi^'s Mere. Law, uh. sup.

8 Stent's Com. 354.

The money is loaned upon the ship, or ship and accrumg freight, at an extraordinary interest, the risks of the voyage being borne by the lender, and the bond covers the freight of the voyage, or during the limited time.

3 Kenfs Com. 354.

U. S. Digest, Bottomry and Respondentia.

2 Cond.Bep. U. S. 129, note.

The term bottomry is thought to be of Dutch origin, (being termed in that language bomerie, bodm^rie, boddemerie,) and to be derived from boden, or bodem, which in the same language signifies the bottom or keel of a ship.

P.

Cyclopcsdia

So bodo, or bodun signified, it is said, in old French and British, a bottom or depth.

Camden Brit. 149.

Loccenius, lib.

2, c. 4, § 1. Molloy de Jur. MariU 359.

It seems sufficient, however, to derive it, as an English word, from the bottom of a vessel, which is now used by a common figure, {pars pro toto,) as keel {carina,) was anciently, for the vessel itself.

See Bottomage.