General-Mortgage Bond Law and Legal Definition
General-mortgage bond means a corporate bond secured by a blanket charge on the assets of the issuer. However, the general-mortgage bond is often less valuable because it may by outranked by one or more prior bonds. This type of bond is commonly used by railroads. A general mortgage may not necessarily have priority of claim over other liens on specific assets or parcels of land.
Legal Definition list
- General Welfare Clause
- General Warranty Deed
- General Warranty
- General Warrant
- General Verdict With Interrogatories
- General-Mortgage Bond
- General-Obligation Bond
- General-Welfare Power
- General/Area Wage Determinations
- Generale Tantum Valet In Generalibus, Quantum Singulare In Singulis
- Generalia Specialibus Non Derogant
