Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
equipment trust
See EQUIPMENT TRUST.
equipment trust bond
A bond secured by tangible property, such as an airplane. ( A trustee usu. holds title to the equipment, which is leased to the issuer. - Also termed equipment trust certificate.
equipment trust certificate
A security, usu. issued by a railroad, to pay for new equipment. ( Title to the equipment is held by a trustee until the note has been paid off. - Also termed car trust certificate; trust certificate.