Source : Webster's Revised Unabridged Dictionary (1913)

Bottomry \Bot"tom*ry\, n. [From 1st {Bottom} in sense 8: cf.D.
   bodemerij. Cf. {Bummery}.] (Mar.Law)
   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}.