Sometimes refers to a document evidencing a debt obligation (e.g., Salomon v. Salomon & Co., [1897] A.C. 22 (H.L.), but when it is used by bankers it may mean the document evidencing the security for repayment of a debt as well as the document evidencing the debt. When the term is used by accountants it means an unsecured debt obligation. Debenture has no precise meaning.

Scroll to Top