Bible Dictionaries
Contango
Webster's Dictionary
(1):
(n.) The premium or interest paid by the buyer to the seller, to be allowed to defer paying for the stock purchased until the next fortnightly settlement day.
(2):
(n.) The postponement of payment by the buyer of stock on the payment of a premium to the seller. See Backwardation.
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Bibliography Information
Webster, Noah. Entry for 'Contango'. Noah Webster's American Dictionary. https://www.studylight.org/dictionaries/eng/web/c/contango.html. 1828.