By Kathy Rogers,2015-02-17 06:19
In finance, loan contract issued by local, state, and national governments
and by private corporations, specifying an obligation to return borrowed
funds. The issuer promises to pay interest on the debt when due (usually
semiannually) at a stipulated percentage of the face value and to redeem the
face value of the bond at maturity in legal tender. Bonds usually in..