Definify.com
Webster 1913 Edition
Contango
Con-tan′go
(kŏn-tăṉ′gō̍)
, Noun.
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.