Black’s Law Dictionary 1st Edition, page 286:
COUPONS. Interest and dividend certificates ; also those parts of a commercial instrument which are to be cut. and which are evidence of something connected with the contract mentioned i n the instrument. They are generally attached to certificates of loan, where the interest is payable at particular periods, and when the interest is paid, they are cut off and delivered to the payer. Wharton.
Black’s Law Dictionary 2nd Edition, page 283:
COUPONS. Interest and dividend certificates; also those parts of a commercial instrument which are to be cut, and which are evidence of something connected with the contract mentioned in the instrument. They are generally attached to certificates of loan, where the interest is payable at particular periods, and, when the interest is paid, they are cut off and delivered to the payer. Wharton.
Coupons are written contracts for the payment of a definite sum of money on a given day, and being drawn and executed in a form and mode for the purpose, that they may be separated from the bonds and other instruments to which they are usually attached, it is held that they are negotiable and that a suit may be maintained on them without the necessity of producing the bonds. Each matured coupon upon a negotiable bond is a separable promise distinct from the promise to pay the bonds or the other coupons, and gives rise to a separate cause of action. Aurora v. West, 7 Wall. 88, 19 L.Ed. 42.
-Coupon bonds. Bonds to which are attached coupons for the several successive installments of interest to maturity. Benwell v. Newark 55 N. J. Eq. 260, 36 Atl. 668; Tennessee Bond Cases, 114 U. S. 663, 5 Sup. Ct. 974, 29 L. Ed. 281. -Coupon notes. Promissory notes with coupons attached, the coupons being notes for interest written at the bottom of the principal note,, and designed to be cut off severally and presented for payment as they mature. Williams v. Moody, 95 Ga. 8, 22 S. E. 30.
Black’s Law Dictionary 8th Edition, page 1066:
COUPON
coupon (koo-pon). An interest or dividend certificate that is attached to another instrument, such as a bond, and that may be detached and separately presented for payment of a definite sum at a specified time. — Also termed interest coupon.
COUPON BOND
coupon bond.See BOND(3).
COUPON INTEREST RATE
coupon interest rate.See coupon rate under INTEREST RATE. COUPON NOTE
coupon note.See NOTE(1).
COUPON RATE
coupon rate.See INTEREST RATE.
COUPON SECURITY
coupon security.See SECURITY.
COUPON YIELD
coupon yield.See YIELD.
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