post obit bond

An agreement by which a borrower promises to pay to the lender a lump sum (exceeding the amount advanced) upon the death of a person whose property the borrower expects to inherit.

• Equity traditionally enforces such bonds only if the terms are just and reasonable.

— Also termed post-obit agreement.

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词条贡献者

译者Eugina，毕业于一所旨在培养高级翻译专业人才的翻译院校，擅长翻译涉及国防和军工领域的法律文件。