diff --git a/Doc/library/functions.rst b/Doc/library/functions.rst
index 9c12b6c48d8ff0..9d13967c04fffa 100644
--- a/Doc/library/functions.rst
+++ b/Doc/library/functions.rst
@@ -1687,18 +1687,19 @@ are always available.  They are listed here in alphabetical order.
 
 
    With three arguments, return a new type object.  This is essentially a
-   dynamic form of the :keyword:`class` statement. The *name* string is the
-   class name and becomes the :attr:`~definition.__name__` attribute; the *bases*
-   tuple itemizes the base classes and becomes the :attr:`~class.__bases__`
-   attribute; and the *dict* dictionary is the namespace containing definitions
-   for class body and is copied to a standard dictionary to become the
-   :attr:`~object.__dict__` attribute.  For example, the following two
-   statements create identical :class:`type` objects:
+   dynamic form of the :keyword:`class` statement. The *name* string is
+   the class name and becomes the :attr:`~definition.__name__` attribute.
+   The *bases* tuple contains the base classes and becomes the
+   :attr:`~class.__bases__` attribute; if empty, :class:`object`, the
+   ultimate base of all classes, is added.  The *dict* dictionary contains
+   attribute and method definitions for the class body; it may be copied
+   or wrapped before becoming the :attr:`~object.__dict__` attribute.
+   The following two statements create identical :class:`type` objects:
 
       >>> class X:
       ...     a = 1
       ...
-      >>> X = type('X', (object,), dict(a=1))
+      >>> X = type('X', (), dict(a=1))
 
    See also :ref:`bltin-type-objects`.
 
diff --git a/Misc/NEWS.d/next/Documentation/2021-01-20-23-03-49.bpo-40304.-LK7Ps.rst b/Misc/NEWS.d/next/Documentation/2021-01-20-23-03-49.bpo-40304.-LK7Ps.rst
new file mode 100644
index 00000000000000..3f2f14c2d7b893
--- /dev/null
+++ b/Misc/NEWS.d/next/Documentation/2021-01-20-23-03-49.bpo-40304.-LK7Ps.rst
@@ -0,0 +1,2 @@
+Fix doc for type(name, bases, dict).  Patch by Boris Verkhovskiy and
+Éric Araujo.