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

资深译员姚坚，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与私募资本有关的法律文件。