general mortgage bond

A corporate bond secured by a blanket mortgage on property.

• The general-mortgage bond, however, is often less valuable because it is subordinate to prior mortgages. [Cases: Corporations 470. C.J.S. Corporations §§ 664–665.]

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词条贡献者

译者Celia，毕业于新加坡知名法学院，擅长翻译涉及信息和智能技术领域的法律文件。