Con*tan"go (?), n.; pl. Contangoes (#). [Prob. a corruption of contingent.]
1. Stock Exchange
The premium or interest paid by the buyer to the seller, to be allowed to defer paying for the stock purchased until the next fortnightly settlement day.
[Eng.]
2. Law
The postponement of payment by the buyer of stock on the payment of a premium to the seller. See Backwardation.
N. Biddle.
© Webster 1913.