- The original amount due on a promissory note or insurance policy as written in the document, without any calculation of interest.
Business law dictionary. 2015.
Look at other dictionaries:
face amount — n: the amount of money payable under an insurance policy at the time of a loss Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. face amount … Law dictionary
face amount — Quantity expressed as an amount representing the face amount, i.e. the principal, of a debt instrument. Euroclear Clearing and Settlement glossary * * * face amount face amount ➔ amount1 * * * face amount UK US noun [C] US ► INSURANCE the amount… … Financial and business terms
face amount — The face amount of an instrument is that shown by the mere language employed, and excludes any accrued interest. See face of instrument face value … Black's law dictionary
face amount — Quantity expressed as an amount representing the face amount, i.e. the principal, of a debt instrument … Euroclear glossary
face amount — … Useful english dictionary
Face-amount certificate company — An investment company which offers an Investment Certificate as defined by the Investment Company Act of 1940A face amount certificate (FAC) is a contract between an investor and an issuer in which the issuer guarantees payment of a stated (face… … Wikipedia
Face-Amount Certificate Company — A type of investment firm that issues debt securities to its investors. These securities are called face amount certificates and are backed by security interest on assets such as real property or other securities. This is similar in nature to… … Investment dictionary
face-amount certificate — A debt security issued by face amount. The holder makes payments periodically to the issues, and the issuer promises to pay the purchaser the face value at maturity or the surrendered value if the security is presented by the maturity specified… … Financial and business terms
face amount insured by the policy — Within statute relating to extended life insurance, means the amount which is, in all events, payable under the policy as straight life insurance without regard to additional features such as accident or disability insurance. Wilkins v.… … Black's law dictionary
face amount of policy — The amount of straight life insurance provided by a life insurance policy, without giving effect to additional indemnity provisions. Pierce v Businessmen s Assur. Co. (Mo) 333 SW2d 97 … Ballentine's law dictionary