POSTOBIT

Post-o"bit, n., or; Post-o"bit bond`. Etym: [Pref. post- + obit.] (Law)

Definition: 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.

Post-o"bit, n., or Post-o"bit bond`. [Pref. post- + obit.] (Law)

Definition: 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.

Source: Webster’s Unabridged Dictionary 1913 Edition

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