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Coupon |
Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia | 0.66 sec. |
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A certificate evidencing the obligation to pay an installment of interest or a dividend that must be cut and presented to its issuer for payment when it is due. Coupons are usually attached to a document, such as a promissory note, bond, share of stock, or a bearer instrument. A coupon is a written contract for the payment of a definite amount on a specified date according to the terms of the main document from which it must be separated for presentation for payment. Each coupon represents a separate promise by its issuer to pay its holder on the due date. Failure to do so will support a Cause of Action for breach of contract. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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