coupons


coupons
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 to the payor. That portion of a bond redeemable at a specified date for interest payment. 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 bonds. Each matured coupon upon a negotiable bond 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. Thompson v. Perrine, 106 U.S. 589, 1 S.Ct. 564, 27 L.Ed. 298
@ coupon bonds
Bonds to which are attached coupons for the several successive installments of interest to maturity
@ 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
@ coupon rate of interest
The interest rate stated on a bond. The coupon rate of interest times the par, or principal, value of a bond determines the periodic dollar interest payments received by the bondholder
@ coupon securities
Such securities usually provide for the payment of principal to the bearer thereof, and for payment of an installment of interest to the bearer of the respective interest coupons upon presentation thereof upon their respective due dates. Coupon securities are usually in the denomination of $1,000. Ownership of the security and/or coupons is transferred by delivery thereof. Such a security is negotiable under the Uniform Commercial Code. U.C.C. No.No. 8-105, 8-302
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Black's law dictionary. . 1990.

Look at other dictionaries:

  • Coupons — (fr., spr. Kupong), 1) Zettel, die von einem Ganzen abgeschnitten werden; 2) Interessenscheine, s. Zinscoupons; 3) abgeschnittene Stücken Ellenwaaren; 4) gewisse Stücken Batist, Leinwand etc …   Pierer's Universal-Lexikon

  • Coupons — (frz. Kupongs), Zins C., die dem auf den Inhaber lautenden Schuldscheine eines Staates oder einer Actiengesellschaft beigedruckten Hebungsscheine oder Quittungen, welche bei der Erhebung der Zinse jedesmal ausgeschnitten werden …   Herders Conversations-Lexikon

  • coupons — 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 …   Black's law dictionary

  • coupons — ➡ advertising * * * …   Universalium

  • coupons — Las Vegas Lingo Redeemable for nearly everything from a free meal to a free pull on a slot machine. (Ask the hotel whether it has a coupon book.) …   English dialects glossary

  • coupons — cou·pon || kuːpÉ’n n. printed form that entitles the bearer to certain rights (as in a discount) …   English contemporary dictionary

  • COUPONS — …   Useful english dictionary

  • Coupons.com — was founded in 1998[1] and is a privately held firm based in Mountain View, CA. Coupons.com Incorporated has digital coupons, including online printable, social, mobile and loyalty card promotions. For decades, the Sunday newspaper has been the… …   Wikipedia

  • coupons-réponse — ● coupon réponse, coupons réponse nom masculin Imprimé à valeur fiduciaire destiné à payer aux correspondants étrangers le port d une lettre ordinaire. Partie d une annonce publicitaire que le lecteur peut découper et retourner dûment complétée,… …   Encyclopédie Universelle

  • trading stamps and coupons — A comprehensive term for any type of tickets, certificates, or order blanks that can be offered in exchange for money or something of value, or for a reduction in price when a particular item is purchased. Dictionary from West s Encyclopedia of… …   Law dictionary