Bonds

1 definition found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Debenture \De*ben"ture\ (?; 135), n. [L. debentur they are due,
     fr. debere to owe; cf. F. debentur. So called because these
     receipts began with the words Debentur mihi.]
     1. A writing acknowledging a debt; a writing or certificate
        signed by a public officer, as evidence of a debt due to
        some person; the sum thus due.


        [1913 Webster]
  
     2. A customhouse certificate entitling an exporter of
        imported goods to a drawback of duties paid on their
        importation. --Burrill.
        [1913 Webster]
  
     Note: It is applied in England to deeds of mortgage given by
           railway companies for borrowed money; also to municipal
           and other bonds and securities for money loaned.
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     3. Any of various instruments issued, esp. by corporations,
        as evidences of debt. Such instruments (often called
  
     {debenture bonds}) are generally, through not necessarily,
        under seal, and are usually secured by a mortgage or other
        charge upon property; they may be registered or
        unregistered. A debenture secured by a mortgage on
        specific property is called a
  
     {mortgage debenture}; one secured by a floating charge (which
        see), a
  
     {floating debenture}; one not secured by any charge
  
     {a naked debenture}. In general the term debenture in British
        usage designates any security issued by companies other
        than their shares, including, therefore, what are in the
        United States commonly called {bonds}. When used in the
        United States debenture generally designates an instrument
        secured by a floating charge junior to other charges
        secured by fixed mortgages, or, specif., one of a series
        of securities secured by a group of securities held in
        trust for the benefit of the debenture holders.
        [Webster 1913 Suppl.]