An interesting bearing document (such as a bond) which requires no security in the form of a mortgage or lien on a parcel of land. Repayment is only guaranteed by the issuer.
Law Dictionary – Alternative Legal Definition
A certificate given by the collector of a port, under the United States customs laws, to the effect that an importer of merchandise therein named is entitled to a drawback, (q. v.t) specifying the amount and time when payable. See Act Cong. March 2, 1799. In English law. A security for a loan of money Issued by a public company, usually creating a charge on the whole or a part of the company’s stock and property, though not necessarily in the form of a mortgage. They are subject to certain regulations as to the mode of transfer, and ordinarily have coupons attached to facilitate the payment of interest They are generally issued in a series, with provision that they shall rank pari passu in proportion to their amounts. See Bank v. Atkins, 72 Vt. 33, 47 Atl. 176. An Instrument in use In some government departments, by which government is charged to pay to a creditor or his assigns the sum found due on auditing his accounts. Brande; Blount