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Mortgage Debenture, 1889, original, on parchment, with seal, revenue stamp & signature, 66.5 cms x 59.5 cms, condition: very good.
A debenture isĀ a type of bond or other debt instrument that is unsecured by collateral. Since debentures have no collateral backing, they must rely on the creditworthiness and reputation of the issuer for support. Both corporations and governments frequently issue debentures to raise capital or funds, although this example is a private contract between two parties.