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POST-OBIT BOND
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
Meaning:
A bond made by a reversioner to secure a loan; payable out of his reversion
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("post-obit bond" is a kind of...):
bond; bond certificate (a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal)
