post-obit-bond
Post-o"bit, n., or; Post-o"bit bond`. Etym: [Pref. post- + obit.] (Law) Defn: 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. Post-o"bit, n., or Post-o"bit bond`. [Pref. post- + obit.] (Law) Defn: 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.