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Bottomry Meaning In Bengali
Bottomry শব্দের বাংলা অর্থ কি: নৌ
Bottomry
Definition
1) Bottomry refers to a legal contract in maritime law where a shipowner borrows money for the expenses or repairs of a ship, using the ship itself as security. If the ship is lost during the voyage, the lender loses the money borrowed.
2) Bottomry can also refer to the practice of obtaining a loan secured by the bottom or keel of a ship to finance a voyage or maritime venture.
3) In a general sense, bottomry can refer to a mortgage or loan secured by the value of a ship or its cargo.
Examples
Bottomry Example in a sentence
1) The sailor obtained a bottomry loan to repair the ship's hull.
2) The captain resorted to bottomry to finance the voyage's expenses.
3) Bottomry was a common practice in ancient maritime trade.
4) The merchant used a bottomry bond to secure the loan for cargo.
5) The ship's owner entered into a bottomry contract with the lender.
6) Bottomry was considered a form of collateralized loan in maritime law.
7) The sailor pledged the ship as security for the bottomry loan.
8) The lender agreed to provide the funds in exchange for a bottomry bond.
9) A bottomry agreement typically involved the ship as collateral.
10) The captain decided to risk a bottomry loan to save the ship from sinking.
Synonyms
Encyclopedia
Bottomry refers to a legal contract in maritime law where a shipowner borrows money for the expenses or repairs of a ship, using the ship itself as security. If the ship is lost during the voyage, the lender loses the money borrowed.
Bottomry can also refer to the practice of obtaining a loan secured by the bottom or keel of a ship to finance a voyage or maritime venture.
In a general sense, bottomry can refer to a mortgage or loan secured by the value of a ship or its cargo.
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