Defeased Securities, Estoppel and Leveling Rod

Today's Finance Jargon
Defeased Securities
Securities that have been secured by another asset, such as cash or a cash equivalent, by the debt-issuing firm. Firms that have created defeased securities, which are typically bonds, will have sufficient cash set aside for retirement of the debt upon maturity.

Today's Law Jargon
An impediment that prevents a person from asserting or doing something contrary to his own previous assertion or act.

Today's Engineering Jargon
Leveling Rod
A rod with graduated marks for measuring heights or vertical distances between given points and the line of sight of a leveling instrument. They are longer than a yardstick and are held by a surveyor in a vertical position.

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