Thursday, March 21, 2013
Word of the Day
hypothecate \hahy-POTH-i-keyt, hi-\,
verb:
1. to pledge to a creditor as security without delivering over; mortgage.
2. to put in pledge by delivery, as stocks given as security for a loan.
Then you hypothecate your stock in company number one, and you had your dummy directors lend you more money, and you buy another trust company.
-- Upton Sinclair, "The Moneychangers," 1920
He could buy certificates of city loan for the sinking-fund up to any reasonable amount, hypothecate them where he pleased, and draw his pay from the city without presenting a voucher.
-- Theodor Dreiser, "The Financier," 1912
Hypothecate first entered English in the late 1600s, originally from the Greek roots hypo- and tithenai meaning "to put down."
Dictionary.com Word of the Day