Funding System

English Law: Funding System in the Past

The name given to a plan which gives that on the creation of a public loan, funds must immediately be formed and secured by law, for the payment of the interest, until the state must redeem the whole and also for the gradual redemption of the capital itself. This gradual redemption of the capital is called the sinking of the debt and the fund so appropriated is called the sinking fund. [1][rtbs name=”history-of-english-law”]

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Notes and References

1. Partialy, this information about funding system is based on the Bouvier´s Law Dictionary, 1848 edition. There is a list of terms of the Bouvier´s Law Dictionary, including funding system.

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