debenture

• WordNet 3.6
  • n debenture a certificate or voucher acknowledging a debt
  • n debenture the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future
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• • Debenture A customhouse certificate entitling an exporter of imported goods to a drawback of duties paid on their importation.
  • Debenture 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.
  • Debenture 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.
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• • n debenture A writing acknowledging a debt; a writing or certificate signed by a public officer or corporation as evidence of debt; specifically, an instrument, generally under seal, for the repayment of money lent: usually if not exclusively used of obligations of corporations or large moneyed copartnerships, issued in a form convenient to be bought and sold as investments. Sometimes a specific fund or property is pledged by the debentures, in which case they are usually termed mortgage debentures.
  • n debenture In the customs, a certificate of drawback; a writing which states that a person is entitled to a certain sum from the government on the reëxportation of specified goods, the duties on which have been paid.
  • n debenture In some government departments, a bond or bill by which the government is charged to pay a creditor or his assigns the money due on auditing his account.
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• • n Debenture de-bent′ūr a written acknowledgment of a debt: a deed of mortgage given by a railway or other company for borrowed money: a certificate entitling an exporter of imported goods to a repayment of the duty paid on their importation
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