Century Dictionary and Cyclopedia
- n. A bond given for the purpose of securing to a lender a sum of money on the death of some specified individual from whom the borrower has expectations: sometimes used attributively: as, a post-obit bond. Such loans are not only made at usurious rates of interest, but usually the borrower has to pay a much larger sum than he has received, in consideration of the risk that he may die before the person from whom he has expectations. If, however, there is in the proportions a gross inadequacy amounting to fraud, a court of equity will interfere.
- n. Same as post-mortem.
- n. 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 expectations.
GNU Webster's 1913
- n. See 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 expectations.
“With the recent deaths of Charlton Heston and Anthony Minghella, and the resulting post-obit tributes that came their way, it bothered me that this was not the case when one of our greatest motion picture actresses passed away a little less than six months ago.”
“Helpless beyond measure in all the duties of practical statesmanship, its members or their dependants have given proof of remarkable energy in the single department of peculation; and there, not content with the slow methods of the old-fashioned defaulter, who helped himself only to what there was, they have contrived to steal what there was going to be, and have peculated in advance by a kind of official post-obit.”
“Far from seeking revenge, the worst defaulter I ever had dealings with cannot deny that I am always willing to accept a good post-obit.”
“I will just explain that a post-obit is a form of note or due bill given by the heir of an estate (usually of an entailed estate), which matures the moment the drawer of the document enters into that estate.”
“Why, nothing capital of my masters wardrobe has dropped lately; but I could give you a mortgage on some of his winter clothes, with equity of redemption before Novemberor you shall have the reversion of the French velvet, or a post-obit on the blue and silver; these, I should think, Moses, with a few pair of point ruffles, as a collateral securityhey, my little fellow?”
“Now I propose, Mr. Premium, if its agreeable to you, a post-obit on Sir Olivers life: though at the same time the old fellow has been so liberal to me, that I give you my word, I should be very sorry to hear that any thing had happened to him.”
“He would soon be of age, and it was necessary to make some terms to prevent the loss the estate would suffer by raising money on post-obit bonds.”
“I won't leave the place till I've set things right -- not if I've got to give him a post-obit for five thousand -- I won't!”
“I wonder how long an interval there was between the two; it would be a pretty calculation for a _post-obit_.”
“I should have imputed these debts to mere heedless extravagance, like other people's -- like my own, if you please -- save for your own words, and for finding you capable of such treachery as borrowing on a _post-obit_.”
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