Bottomry is a contract by which a ship or its freightage is hypothecated as security for a loan, which is to be repaid only in case the ship survives a particular risk, voyage, or period. SOURCE: CC § 3017.
18 GCA § 37101, under Bottomry.
18 GCA § 37101
Bottomry is a contract by which a ship or its freightage is hypothecated as security for a loan, which is to be repaid only in case the ship survives a particular risk, voyage, or period. SOURCE: CC § 3017.
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