certificate of indebtedness

An instrument issued by a building and loan association for borrowed money. 13 Am J2d B & L Assoc § 10: an obligation issued by a receiver, trustee, or debtor in possession, for money borrowed for the purpose of continuing the operation of the bankrupt's or debtor's business while bankruptcy proceedings or reorganization proceedings continue. 9 Am J2d Bankr §§ 1308, 1357, 1555; one of an issue of instruments by a public body to obtain funds for carrying on the administration of government, being similar to a bond in the respect that both are promises to pay a sum certain at a definite time or times. 43 Am J1st Pub See § 12. For many years the form of obligation used to raise money for municipal improvements when the loan was for a large sum and intended to cover a long term of years was an instrument under seal known as a "certificate of loan,” with certificates of interest attached, payable to the bearer at particular times within the year, at some particular place, being a part of the contract from which they must be cut off to be presented for payment. These certificates of loan are now known as coupon bonds. Amey v Allegheny City (US) 24 How 364, 16 L Ed 614.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • certificate of indebtedness — index bond, security (stock) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • certificate of indebtedness — noun a written promise to repay a debt • Syn: ↑debt instrument, ↑obligation • Hypernyms: ↑document • Hyponyms: ↑cash equivalent, ↑certificate of deposit, ↑ …   Useful english dictionary

  • Certificate of Indebtedness — A short term fixed income security issued by the United States Treasury that has a coupon. Unlike treasury bills—which are sold at a discount and mature at par value without a coupon payment—certificates of indebtedness offer fixed coupon… …   Investment dictionary

  • certificate of indebtedness — a short term, negotiable, interest bearing note representing indebtedness. * * * …   Universalium

  • Certificate of Indebtedness —    A United States Treasury debt obligation which has a maturity of one year or less, similar to a Treasury bill. The certificate has a fixed coupon with a set rate of interest, in contrast to the Treasury bill which pays interest by being sold… …   Financial and business terms

  • certificate — cer·tif·i·cate 1 /sər ti fi kət/ n 1 a: a document containing a certified statement esp. as to the truth of something a birth certificate b: a document certifying that a person has fulfilled the requirements of and may practice in a specified… …   Law dictionary

  • certificate — /sartifakat/ A written assurance, or official representation, that some act has or has not been done, or some event occurred, or some legal formality has been complied with. A written assurance made or issuing from some court, and designed as a… …   Black's law dictionary

  • certificate of loan — See certificate of indebtedness …   Ballentine's law dictionary

  • certificate of receiver — See certificate of indebtedness …   Ballentine's law dictionary

  • certificate of trustee — See certificate of indebtedness …   Ballentine's law dictionary

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