BOND n.
ture day appointed. This is a single bond. But usually a condition is added, that, if the obligor shall do a certain act, appear at a certain place, conform to certain rules, faithfully perform certain duties, or pay a certain sum of money, on or before a time specified, the obligation shall be void; otherwise it shall…
POST-OBIT; POST-OBIT BOND n. 2 definitions
A bond in which the obligor, in consideration of having received a certain sum of money, binds himself to pay a larger sum, on unusual interest, on the death of some specified individual from whom he has expectations. Bouvier.