Convertible
/kənˈvɜːrtəbl/
Definitions
- (adj.) Capable of being exchanged for something else, such as debt or securities for equity.
The bonds are convertible into shares at any time before maturity.
- (adj.) Describing a vehicle with a roof that can be folded or removed.
She drove a red convertible along the coast.
Forms
- convertibles
Related terms
Commentary
In legal and financial contexts, 'convertible' usually pertains to securities that can be exchanged for another form, emphasizing clarity on terms of conversion in contracts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.