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bonds


  1  definition  found 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Debenture  \De*ben"ture\,  n. 
  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. 




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