contango

n.; pl. Contangoes [ Prob. a corruption of contingent. ] 1. (Stock Exchange) 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. [ Eng. ] [ 1913 Webster ]

2. (Law) The postponement of payment by the buyer of stock on the payment of a premium to the seller. See Backwardation. N. Biddle. [ 1913 Webster ]

n.; pl. Contangoes [ Prob. a corruption of contingent. ] 1. (Stock Exchange) 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. [ Eng. ] [ 1913 Webster ]

2. (Law) The postponement of payment by the buyer of stock on the payment of a premium to the seller. See Backwardation. N. Biddle. [ 1913 Webster ]