Coupon - Law Dictionary Search Results
Home Dictionary Name: couponcoupon
coupon [French, from Old French, piece, from couper to cut] : a statement of due interest to be cut from a debt instrument and esp. a bearer bond when payable and presented for payment ;also : the interest rate of a coupon ...
Bond coupon
Bond coupon, means a part of a coupon bond that is clipped by the holder and surrendered to obtain an interest payment, Black Law Dictionary, 7th Edn., p. 175....
Coupons
Coupons [fr. Couper, Fr., to cut], interest and dividend certifictes; also those parts of a commercial instrument which are to be cut, and which are evidence of something connected with the contract mentioned in the instrument. They are generally attached to certificates of loan, where the interest is payable at particular periods, and, when the interest is paid, they are cut off and delivered to the payer. A coupon does not require a stamp; it is nothing more than an I.O.U....
coupon bond
coupon bond see bond ...
zero-coupon bond
zero-coupon bond see bond ...
Coupon betting
Coupon betting, means the making of bets in pursuance of an invitation which offers stated odds for a choice of bets, being bets of a description not commonly made without such an invitation, unless made by way of pool betting and not of a description commonly made by means of a totalisator, Betting and Gaming Duties Act, 1981, s. 11 (UK) Halsbury's Laws of England, Vol. 4(1), para 175, p. 126....
Zero coupon bond
Zero coupon bond. means a bond:(a) issued by any infrastructure capital company or infrastructure capital fund or public sector company on or after the 1st day of June, 2005;(b) in respect of which no payment and benefit is received or receivable before maturity or redemption from infrastructure capital company or infrastructure capital fund or public sector com-pany; and(c) which the Central Government may, by notification in the Official Gazette, specify in this behalf. [Income Tax Act, 1961 (43 of 1961), s. 2(48)]....
bond
bond 1 a : a usually formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure to perform or abstain will obligate the person or often a surety to pay a sum of money or will result in the forfeiture of money put up by the person or surety ;also : the money put up NOTE: The purpose of a bond is to provide an incentive for the fulfillment of an obligation. It also provides reassurance that the obligation will be fulfilled and that compensation is available if it is not fulfilled. In most cases a surety is involved, and the bond makes the surety responsible for the consequences of the obligated person's behavior. Some bonds, such as fidelity bonds, function as insurance agreements, in which the surety promises to pay for financial loss caused by the bad behavior of an obligated person or by some contingency over w...
Stock certificates
Stock certificates. By the National Debt Act, 1870, it is provided that a holder of British Government Stock may obtain a stock certificate; that is to say, a certificate of title to his stock or any part thereof, with coupons annexed, entitle in the bearer of the coupons to the dividends on the stock (s. 26); that a certificate shall not be issued in respect of any sum of stock not being 50l., or a multiple of 50l., or exceeding 1000l. (s. 28); that a trustee of stock shall not apply for or hold a stock certificate, unless authorized to do so by the terms of his trust (s. 29); that no notice of any trust in respect of any certificate or coupon shall be receivable (s. 30); that where a stock certificate is outstanding the stock represented thereby shall cease to be transferable in the Bank books (s. 31); that a tock certificate, unless a name is inscribed thereon, shall entitle the bearer to the stock therein described, and shall be transferable by delivery (s. 32). The Act also contai...
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
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