Legal Definition and Related Resources of Post obit
Meaning of Post obit
(Lat.) An agreement by which the obligor borrows a certain sum of money, and promises to pay a larger sum, exceeding the lawful rate of interest, upon the death of a person from whom he has some expectation, if the obligor be then living. 7 Mass. 119; 6 Madd. IJl; 5 Ves. 57; 19 Ves. 628; 62 Barb. (N. Y.) 95. Equity will, in general, relieve a party from these unequal contracts, as they are fraudulent on the ancestor. See 1 Story, Eq. Jur. § 342; 2 P. Wms. 182, 2 Sim. 183,
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This definition of Post Obit is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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