See Also: Debenture bond(money)
Debenture bond(finance)
Subordinated debenture bond(money)
Subordinated debenture bond(finance)
debenture(dictionary)
Debenture(finance)
DEBENTURE(law)
debenture(dictionary)
Debenture(money)
Consumer debenture(money)

rack(3) (iou) and Debenture bond (finance)


rack(3) (iou)



rack noun3. [rak] ME.
[Prob. spec. use of RACK noun2 Cf. RACK verb1.]
A frame on which to stretch cloth, parchment, etc. obsolete exc. dial. ME.
Hist. An instrument of torture, usu. consisting of a frame on which the victim was stretched by turning rollers fastened to his or her wrists and ankles. ME.
F. King His joints were all aching..as from a..sojourn on the rack.
b. fig. A thing which or person who causes great difficulty, pain, suffering, etc. L16.
A windlass or winch for bending a crossbow. E16-L17.
= RACK-RENT noun. Now rare or obsolete. E16.
Phrases & comb.: on the rack (a) distressed, suffering, anxious; (b) at full capacity, strained, stretched. rack-master a torturer using the rack.

Debenture bond (finance)


An unsecured bond whose holder has the claim of a General creditor on all assets of the issuer not pledged specifically to secure Other Debt.