Floating Debt
A Dictionary of Law · Henry Campbell Black · 1891
A Dictionary of Law
By this term is meant that mass of lawful and valid claims against the corporation for the payment of which there is no money in the corporate treasury specifically designed, nor any taxation nor other means of providing money to pay particularly provided.
71N. Y. 874.
Debt not in the form of bonds or stocks bearing regular interest.
Pub. St. Muss. 1882, p. 1290.