Definition and Citations:
In maritime law. A loan on bottomry. So named because the lender, in case of a loss, or expense incurred for the common safety, must contribute to the gross or general average.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
In maritime law. A loan on bottomry. So named because the lender, in case of a loss, or expense incurred for the common safety, must contribute to the gross or general average.