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

双语律师Lorna，国际知名商学院金融专业，擅长翻译涉及金融创新和金融科技领域的法律文件。