car trust

car trust
A partnership association formed by a number of persons for the purpose of buying, selling and leasing railroad rolling stock to be leased to a railroad company. Ricker v American Loan & Trust Co. 140 Mass 346, 347.

Ballentine's law dictionary. . 1998.

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  • car trust certificates — car trust certificates, or securities A class of investment securities based upon the conditional sale or hire of railroad cars or locomotives with a reservation of title or lien in the vendor or bailor until the property is paid for. See also… …   Black's law dictionary

  • car trust securities — car trust certificates, or securities A class of investment securities based upon the conditional sale or hire of railroad cars or locomotives with a reservation of title or lien in the vendor or bailor until the property is paid for. See also… …   Black's law dictionary

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