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TeachMeFinance.com - explain Bottomry historic definition... Bottomry -- A maritime contract whereby the owner of a vessel (or its master if in a foreign port) borrows money at maritime interest to enable him to make or complete a voyage, pledging or mortgaging the vessel as security without making himself personally liable in case of the loss of the vessel. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.