Post Obit

An agreement, by which the obligor borrows a certain sum of money and promises to pay a larger sum, exceeding the lawful rate of interest, upon the death of a person, from whom he has some expectation, if the obligor be then living.

Equity will, in general, relieve a party from these unequal contracts, as they are fraudulent on the ancestor. But relief will be granted only on equitable terms, for he who seeks equity must do equity.
   

This entry contains material from Bouvier's Legal Dictionary, a work published in the 1850's.