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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…

amount, the gross weight; -- opposed to net. Gross adventure (Law) the loan of money upon bottomry, i. e., on a mortgage of a ship. -- Gross average (Law), that kind of average which falls upon the gross or entire amount of ship, cargo, and freight; -- commonly called general average. Bouvier. Burrill. -- Gross recei…

y of possession; to mortgage, as ships, or other personal property; to make a contract by bottomry. See Hypothecation, Bottomry. He had found the treasury empty and the pay of the navy in arrear. He had no power to hypothecate any part of the public revenue. Those who lent him money lent it on no security but his bare…

iable for its repayment, provided the ship arrives in safety. It is usually effected by a bottomry bond. See Bottomry.

-- Marine interest, interest at any rate agreed on for money lent upon respondentia and bottomry bonds. -- Marine law. See under Law. -- Marine league, three geographical miles. -- Marine metal, an alloy of lead, antimony, and mercury, made for sheathing ships. Mc Elrath. -- Marine soap, cocoanut oil soap; -- so…

time service." Sir H. Wotton. Maritime law. See Law. -- Maritime loan, a loan secured by bottomry or respodentia bonds. -- Martime nations, nations having seaports, and using the sea more or less for war or commerce.

A loan upon goods laden on board a ship. It differs from bottomry, which is a loan on the ship itself. Bouvier.