Income Bonds
Defined in 1 dictionary — Cyclopedic (1922)
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
As the term is ordinarily used, income bonds are bonds which carry interest only so far as the interest is earned from the net income of the corporation, within an interest period. They bear a close resemblance to capital stock. Such interest is ordinarily not cumulative. 2 Fletcher Cyclopedia Corporations 1922. INCOMMODUM NON SOLVIT ARGUmentum. An Inconvenience does not solve an argument.