See Also: amortise(dictionary)
AMORTISE, contracts(law)

amortise (iou)



amortise verb trans. Also amortize. LME.
[Old French amortiss- lengthened stem of amortir ult. from Latin AD- + mort-, mors death. The spelling -ize is due to medieval Latin amortizare.]
1. Deaden; destroy. LME-M17.
2. Hist. Transfer (property) to a corporation in mortmain. LME.
3. Extinguish or wipe out (a debt etc.), usu. by means of a sinking fund; gradually write off the initial cost of (assets). L19.
amortisable adjective extinguishable as a liability L19.
amorti'sation noun M17.
amortisement noun = amortisation LME.