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TONTINE Definition & Legal Meaning

Definition & Citations:

In French law. A species of association or partnership formed among persons who are iu receipt of perpetual or life annuities, with the agreement that the shares or annuities of those who die shall accrue to the survivors. This plan is said to be thus named from Tonti, an Italian, who invented it iu the seventeenth century. The principle is used in some forms of life insurance. Merl. Repert


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