{"id":9462,"date":"2017-11-25T04:10:03","date_gmt":"2017-11-25T04:10:03","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=9462"},"modified":"2018-01-09T20:21:39","modified_gmt":"2018-01-09T20:21:39","slug":"bottomry","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=9462","title":{"rendered":"Bottomry – a contract executed by the master of a vessel, promising repayment of advances made to supply the ship plus interest: the performance is secured by a pledge. of the “bottom” of the ship (the ship itself): payment of principal and interest are risks of the lender, as repayment depends upon successful voyage"},"content":{"rendered":"

bottom<\/span>:<\/strong><\/span><\/p>\n

1. The national registry of a vessel. <\/span><\/strong><\/p>\n

bottomage<\/span>:<\/strong><\/span><\/p>\n

1. Same as bottomry.<\/span><\/strong><\/p>\n

bottom land<\/span>:<\/strong><\/span><\/p>\n

1. Land in the flood plain of a river; land which is overflown by a river unless protected by flood control constructions. <\/span><\/strong><\/p>\n

bottomry<\/span>:<\/strong><\/span><\/p>\n

1. A contract, usually executed in a foreign port by the master of a vessel, for repayment of advances made to supply the necessities of the ship, together with such interest as may be agreed upon,\u00a0 the performance whereof is secured by a pledge. of the keel or bottom of the ship, which, of course, is actually of a pledge of the ship itself, but under the characteristic provision that payment of principal and interest are at the risk of the lender during the voyage so that repayment depends upon its successful termination.\u00a0 48 Am J1st Ship\u00a0\u00a7 593<\/span>.<\/span><\/strong><\/p>\n

bottomry bond<\/span><\/a> – a contract for the loan of money on a ship, usually at extraordinary interest, for maritime risks encountered during a certain period or for a certain voyage, which can be enforced only if the vessel survives the voyage.<\/span><\/strong><\/p>\n

bottomry lien<\/span>:<\/strong><\/span><\/p>\n

1. The lien<\/a> upon a vessel created by a bottomry bond.\u00a0 <\/span><\/strong>See<\/span> 48 Am J1st Ship\u00a0\u00a7 605<\/span>.<\/span><\/strong><\/p>\n

bottoms<\/span>:<\/strong><\/span><\/p>\n

1. Keels or the parts of vessels below water; a term of the shipping business, used at times for freighters, for instance, the expression, “50 bottoms available,”meaning 50 ships in port and ready to take on cargo; a slang term used by persons who deal in forged notes to denote paper for making the notes.\u00a0 Rex v Dade<\/em> (Eng) 1 Moody CC 307<\/span>. <\/span><\/strong>[1]<\/span><\/p>\n

References:<\/span><\/span><\/strong><\/p>\n

Disclaimer:<\/span><\/span><\/strong> All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use<\/a>.<\/span><\/strong><\/p>\n

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[1<\/span><\/strong>]:\u00a0Ballantine\u2019s Law Dictionary\u00a0with Pronunciations
\n<\/em>Third Edition<\/a>\u00a0by James A. Ballantine\u00a0(James Arthur 1871-1949).\u00a0\u00a0<\/em>Edited by William S. Anderson.\u00a0\u00a0\u00a9 1969 by THE LAWYER\u2019S CO-OPERATIVE PUBLISHING COMPANY.\u00a0 Library of Congress Catalog Card No. 68-30931<\/span><\/strong><\/p>\n<\/div>\n

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