ANNU'ITY, n. [See Annual.] A sum of money, payable yearly, to continue for a given number of years, for life or for ever; an annual income, charged on the person of the grantor; or an annual allowance. Governments often borrow money upon annuities, that is, for a certain sum advanced on loan, the government contracts to pay the lender a specific sum, for life, or for a term of years. The stock created by such loans is transferable. |
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In celebration of Noah Webster's Birthday (October 16, 2009), we have prepared an updated website. 
