coupons

coupons or warrants for the interest were drawn and executed in a form and mode for the very purpose of separating them from the bond, and thereby dispensing with the necessity of its production at the time of the accruing of each instalment of interest, and at the same time to furnish complete evidence of the payment of the interest to the makers of the obligation.

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 payor. • COUR DE CASSATION.

In French law. The supreme judicial tribunal and court of final resort. It is composed of forty-nine counsellors and judges, including a first president and three presidents of chamber, an attorney general and six advocates general, one head registrar and four deputy registrars appointed by the head registrar, and a certain number of ushers. Jones, Fr. Bar, 22; Guyot, Rep. Univ. The jurisdiction of the court is only on error shown in the proceedings of the lower courts in matters of law, taking the facts as found by the lower courts.

Interest and dividend certificates ; 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 cortificates 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. Wharton. Coupons are written contracts for the payment of a definite sum of money on a given day, and being drawn and executed in a form and mode for the purpose, that they may be separated from the bonds and other instruments to which they are usually attached, it is held that they are negotiable and that a suit may be maintained on them without the necessity of producing the bands. Each matured coupon upon a negotiable band is a separable promise, distinct from the promises to pay the bonds or the other coupons, and gives rise to a separate cause of action. Aurora v. West, 7 Wall. 88, 19 L. Ed. 42.

— Coupon bonds. Bonds to which are attached coupons for the several successive installments of interest to maturity. Benwell v. Newark, 55 N. J. Eq. 260, 36 Atl. 668; Tennessee Bond Cases, 114 U. S. 663, 5 Sup. Ct. 074, 29 L. Ed. 281.

— Coupon notes. Promissory notes with coupons attached, the coupons being notes for interest written at the bottom of the principal note, and designed to be cut off severally and presented for payment as they mature. Williams v. Moody, 95 Ga. 8, 22 S. Et 30.

Interest and dividend certificates; 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 tothe payer. Wharton.