This is a French term for "bonds."
See " Pit."
This is a term for indebtedness, and has a very general use. Bonds of municipalities, corporations, or of any nature, may be referred to as " obligations; " so may an indebtedness of any form. (See " Direct Obligation.")
A bid; an offer to buy. (See also " Bids and
") notary's signature and seal. A notice of dishonour may be in writing or oral, and may be given personally or sent through the mails. It may be quite informal. Any notice is sufficient which fairly identifies the instrument and indicates that it has been dishonoured. Of course, it is safer to have the notice in writing, in order to avoid any dispute about its terms."
Offered (an offer to sell) at less than the last quotation of the same security.
There is a distinction between "offered firm " and "subject to sale " (the meaning of the latter is set forth under the subject of that heading), but in the case of " offered firm" one offers to sell another certain securities, or anything else for that matter, giving definite time for the acceptance of the offer. Or, one may make an offer, that is, a bid, that in turn will be good for a definite time; in which event it is known as a "firm bid." Anything may be " offered firm for three days," by which the intending purchaser has that length of time to decide in; or a bid may be made "firm" for that length of time, and is known as " firm bid for three days."
See " Hammond's Time."
Sometimes notes bear the words "without offset," meaning that if the person holding the note meets with financial disaster he cannot use the note as an "offset" against any sum which he may happen to owe the person who signed the note.
Dictionary meaning: To set one account against another; to make the account of one party pay the demand of another; a sum, account, or value set off against another sum or ac-count as an equivalent.
O. J. A. J. October, January, April and July; interest or dividends payable quarterly beginning with October.
O. K. (or 0. Ked). When marked upon a paper it signifies that it is correct to the satisfaction of the person who placed the letters thereon. He is said to have " O. Ked " it. It is said to be the abbreviation of oll korrect (all correct).