Definition of REDEEMABLE • Law Dictionary • TheLaw.com

1. Subject to an obligation of redemption; embodying, or conditioned upon, a promise or obligation of redemption; convertible into coin; as, a “redeemable currency.” See U. S. v. North Carolina, 136 U. S. 211, 10 Sup. Ct 920, 84 L. Ed. 336. 2. Subject to redemption; admitting of redemption or repurchase; given or held under conditions admitting of reacquisition by purchase; as, a “redeemable pledge.” Redeemable rights. Rights which return to the conveyor or disposer of land, etc, upon payment of the sum for which such rights are granted. Jacob.

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