A spread with the long position in cap or call and the short on the floor or put. This also occurs vice versa. Refer to collar.
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A discounted bond that is traded and pays no coupon interest during its life. The difference between par value and discount value generates profit.
A convertible bond that is discounted and exchanged into stock. While it is a bond it acquires interest.
A swap that exchanges floating for fixed rates at maturation. There are no intervening payments during the transaction. They are long term and last 10 or more years. Refer to annual inflation swap and inflation swap.
A sway exchanging periodic payments for one lump payment at maturation.
O. Sc. Year. “Zeir and day.” Bell.
Proceeding by inquiry. Enc. Lond.
Rogues and vagabonds in the middle ages; from Zigi, nowCircassia.
A union of Germanstates for uniformity of customs, established in 1819. It continued until the unificationof the German empire, including Prussia, Saxony, Bavaria, Wurtemberg, Baden, Hesse-Cassel, Brunswick, and Meckienburg-Strelitz, and all intermediate principalities. It hasnow been superseded by the German empire; and the federal council of the empire hastaken the place of that of the ZoR-Verein. Wharton.
In the civil law. A measure or quantity of land. Nov. 17, c. 8. Asmuch land as a yoke of oxen could plow in a day. Calvin.
In the civil law. A weigher; an officer who held or looked to thebalance in weighing money between buyer and seller; an officer appointed to determinecontroversies about the weight of money. Spelman.
Lat. A liquor or beverage made of wheat or barley. Dig. 33, 6, 9, pr.
Span. A water ditch or artificial canal, and particularly one used for pur- fiposes of irrigation. See Pico y. Colimas, 32 U Cal. 578.
Span. A water commissioner or superintendent, or supervisor of an ir-Prigation system. See Pico v. Colimas, 32 Cal. 578.
This word is commonly taken in a bad sense, as denoting a separatist from _the Church of England, or a fanatic. Brown.
An untechnical term denoting a witness, on the trial of a cause,who manifests a partiality for the side calling him, and an eager readiness to D tellanything which he thinks may be of ad- vantage to that side.
Equity abhors superfluous things. Lofft, 282.
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