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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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Kroger's Ralphs division earlier this year launched a program to provide its Ralphs Club cardholders with discounts on leading national brands via paperless Internet coupons.
An increasing number of supermarket operators have tapped into the Web to explore Internet coupons and other online marketing strategies in an effort to build consumer relationships and sales.
has introduced a program to provide its Ralphs Club Cardholders with discounts on leading national brands via paperless Internet coupons.
"There is growing concern over Internet coupons," says GMA's Allen.
But this may only be the tip of the iceberg as CPICs (consumer printed Internet coupons) enter the mix.
Internet coupons might be a great way to save money on toilet paper and cereal, but discounts on cosmetic procedures like wrinkle-smoothing Botox injections or chemical peels - which aren't covered by health insurance - have some in the medical community concerned.

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