1. Subject to an obligation of redemption; embodying, or conditioned upon, a promise or obligation of redemption ; convertible into coin; as, a “redeemable currency.” See U. S. v. North Carolina, 136 U. S. 211, 10 Sup. Ct 920, 34 L. Ed. 336. 2. Subject to redemption; admitting of redemption or repurchase; given or held un- der conditions admitting of reacquisition by purchase; as, a “redeemable pledge.”
Black’s Law Online Dictionary
