Post-obit bond

created by Webster 1913
(definition) by Webster 1913 (print) Wed Dec 22 1999 at 2:09:10

Post-o"bit (?), n., ∨ Post-o"bit bond`. [Pref. post- + obit.] Law

A bond in which the obligor, in consideration of having received a certain sum of money, binds himself to pay a larger sum, on unusual interest, on the death of some specified individual from whom he has expectations.

Bouvier.

 

© Webster 1913.

Y'know, if you log in, you can write something here, or contact authors directly on the site. Create a New User if you don't already have an account.