Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Debenture
1 A debt secured only by the debtor's earning power, not by a lien on any specific asset. 2. An instrument acknowledging such a debt. 3. A bond that is backed only by the general credit and financial reputation of the corporate issuer, not by a lien on corporate assets. - Also termed debenture bond; unsecured bond; naked debenture; plain bond. Cf. BOND (3).
convertible debenture
A debenture that the holder may change or convert into some other security, such as stock.
convertible subordinated debenture
A debenture that is subordinate to another debt but can be converted into a different security.
debenture bond
See DEBENTURE (3).
debenture indenture
See DEBENTURE INDENTURE.
debenture stock
1 English law. A type of bond representing money borrowed by a company using its property or other fixed assets as security. 2. Stock that is issued under a contract providing for periodic, fixed payments.
naked debenture
See DEBENTURE (3).
sinking-fund debenture
See DEBENTURE.
subordinate debenture
A debenture that is subject to the prior payment of ordinary debentures and other indebtedness. 4. English law. A company's security for a monetary loan. ( The security usu. creates a charge on company stock or property. 5. A customhouse certificate providing for a refund of the duties on imported goods when the importer reexports the goods rather than selling them in the country where they were imported.