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post-obit bond
CIDE DICTIONARY
post-obit bond, n. [Pref. post- + obit.].
A bond in which the obligor, in consideration of having received a certain sum of money, binds himself to pay a larger sum, on unusual interest, on the death of some specified individual from whom he has expectations. Bouvier. [1913 Webster]
For further exploring for "post-obit bond" in Webster Dictionary Online
