Lexic.us

Definition of Debenture

1. Noun. The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

Definition of Debenture

1. n. 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.

2. 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.

Definition of Debenture

1. Noun. A certificate that certifies an amount of money owed to someone; a certificate of indebtedness. ¹

2. Noun. (obsolete) A certificate of a loan made to the government; a government bond. ¹

3. Noun. (finance) A type of bond secured only by the general credit or promise to pay of the issuer, now commonly issued by large, well established corporations with adequate credit ratings. ¹

¹ Source: wiktionary.com

Definition of Debenture

1. [n -S]

Lexicographical Neighbors of Debenture

Literary usage of Debenture

Below you will find example usage of this term as found in modern and/or classical literature:

1. Company Precedents for Use in Relation to Companies Subject to the Companies by Sir Francis Beaufort Palmer (1884)
"Power to create new debenture »tuck. meeting, and if more than one-fourth in number and value of the debenture stockholders then present in person or by ..."

2. Corporation Procedure: Law, Finance, Accounting by Thomas Conyngton, Robert Joseph Bennett, Paul Whittier Pinkerton, Hugh Ronald Conyngton (1922)
"(7%) debenture stock, having a par value of One Hundred Dollars ($100) each, and Fifty Million (50000000) shares shall be^common stock, without any nominal ..."

3. The Jurist by Great Britain Courts (1866)
"If the charge proposed to be created by debenture is to be puisne or subject ... Where there shall he more than one debenture charged on the same land, ..."

4. Journal of the Statistical Society of London by Statistical Society (Great Britain) (1863)
"The debentures are then purchased, each debenture containing a copy of the conveyances. Each debenture is distinguished by a letter and number. ..."

5. The Judicial Dictionary, of Words and Phrases Judicially Interpreted: To by Frederick Stroud (1903)
"Faute de mieux, it is suggested that, a debenture is a written Obligation or Acknowledgment in an impersonal form, and with conditions more elaborate than ..."

6. The Law Journal Reports: New Series (1881)
"The proper stamp for an instrument of this kind is a debenture stamp. There is no authority for saying that a debenture must be under seal ; it simply means ..."

7. The Public Health Act, 1875: And the Law Relating to Public Health, Local by William Cunningham Glen, Alexander Glen (1876)
"A debenture under this Act shall not be issued for a less sum than the prescribed ... debenture Stock. VI. A debenture stock may be created and issued by ..."

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