See Also: POST OBIT, contract(law)
post-obit(dictionary)
OBIT(law)
obit(dictionary)
obit(dictionary)
Contract(law)
Contract(finance)
pre-contract(2)(dictionary)
Contract(health)
pre-contract(1)(dictionary)

POST OBIT, contract (law)


POST OBIT, contract. An agreement, by which the obligor borrows a certain sum of money and promises to pay a larger sum, exceeding the lawful rate of 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 interest, upon the death of a person, from whom he has some expectation, if the obligor be then living. 7 Mass. R. 119; 6 Madd. R. 111; 5 Ves. 57; 19 the obligor be then living. 7 Mass. R. 119; 6 Madd. R. 111; 5 Ves. 57; 19 Ves. 628. Ves. 628. 2. Equity will, in general, relieve a party from these unequal 2. Equity will, in general, relieve a party from these unequal contracts, as they are fraudulent on the ancestor. See 1 Story, Eq. Sec. contracts, as they are fraudulent on the ancestor. See 1 Story, Eq. Sec. 842; 2 P. Wms. 182; 2 Sim. R. 183, 192; 5 Sim. R. 524. But relief will be 842; 2 P. Wms. 182; 2 Sim. R. 183, 192; 5 Sim. R. 524. But relief will be granted only on equitable terms, for he who seeks equity must do equity. 1 granted only on equitable terms, for he who seeks equity must do equity. 1 Fonb. B. 1, c. 2, Sec. 13, note, p; 1 Story, Eq. Sec. 344. See Catching Fonb. B. 1, c. 2, Sec. 13, note, p; 1 Story, Eq. Sec. 344. See Catching Bargain; Macedonian Decree. Bargain; Macedonian Decree.