• Alt. of Post-obit bond
Found on
http://thinkexist.com/dictionary/meaning/post-obit/
Post-o'bit noun , or
Post-o'bit bond` [ Prefix
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 expe...
Found on
http://www.encyclo.co.uk/webster/P/135
An agreement, by which the obligor borrows a certain sum of money and promises to pay a larger sum, exceeding the lawful rate of interest, upon the death of a person, from whom he has some expectation, if the obligor be then living.Equity will, in general, relieve a party from these unequal contracts, as they are fraudulent on the ancestor. But rel...
Found on
http://www.lectlaw.com/def2/p123.htm
No exact match found.
