Debenture

A certificate given by the collector of a port, under the United tled to a drawhack, (q. 2.) specifying the amount and time when payable.

See Act Cong. March 2, 1799, § 80.

In English law

A security for a loan of money issued by a public company, usually cveating a charge on the whole or a part of the company’s stock and property, though not necessarily in the form of a mortgage. They are subject to certain regulations as to the mode of transfer, and ordinarily have coupons attached to facilitate the payment of interest. They are generally issued in a series, with provision that they shall rank pert passu in proportion to their amounts. An instrument in use in some government departments, by which government is charged to pay to a creditor or his assigns the sum found due on auditing hisaccounts. Brande; Blount.