Tontine

Tontine
   A tontine is a form of annuity by several subscribers, in which the shares of those who die are added to the holdings of the survivors until the last survivor inherits all. This system was devised by and named for a Neapolitan banker, Lorenzo Tonti (1635-1690), who introduced it into
   France in 1653. Louis XIV initiated a tontine in 1689 that attracted more than 1 million subscriptions. Thirty-seven years later, shortly before her death, the last survivor drew a dividend 2,300 percent larger than her original investment. England floated several tontines. As late as 1871 the Daily News announced a proposal to raise £650,000 to purchase the Alexandra Palace and 100 acres of land through a tontine.
   Tontines have not been heard of recently. Perhaps they have become obsolete, especially in the light of modern gambling casinos. But they were exciting vehicles on which several mystery motion pictures were based. It is easy to imagine that when the survivors were reduced to a small number there could be an incentive to hasten the others to the Promised Land.
   A bestseller written by Thomas B. Costain titled The Tontine was published in 1955.

Dictionary of eponyms. . 2013.

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  • tontine — [ tɔ̃tin ] n. f. • 1652; de Tonti, n. de l inventeur de ce système 1 ♦ Dr. Opération par laquelle plusieurs personnes constituent un fonds commun afin de jouir d une rente viagère ou de se partager, à échéance, le capital accumulé, la part d un… …   Encyclopédie Universelle

  • tontine — a scheme for raising money by which the lenders receive an annuity for life that increases as the other investors die until the last survivor receives the total of all the annuities. Collins dictionary of law. W. J. Stewart. 2001. tontine …   Law dictionary

  • Tontine — Ton*tine , n. [F., from It. tontina; so called from its inventor, Tonti, an Italian, of the 17th century.] An annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship. Thus, an annuity is… …   The Collaborative International Dictionary of English

  • tontine — 1765, from Fr. tontine, named for Lorenzo Tonti, Neapolitan banker who in 1653 first proposed this method of raising money …   Etymology dictionary

  • Tontine — Tontine, eine angeblich zuerst von dem Venetianer (u. A. Neapolitaner) Lorenzo Tonti in der Mitte des 12. Jahrh. erdachte Art Leibrente, bei welcher sich mehre Personen in der Art mit einander vereinigen, daß jedem Theilnehmer gegen Erlegung… …   Pierer's Universal-Lexikon

  • Tontine — Tontīne, nach dem Italiener Tonti (unter Ludwig XIV. von Frankreich) benannte Gesellschaft zu gegenseitiger Beerbung, besteht in Deutschland meist in Form der Rentenanstalten (s. Rente) …   Kleines Konversations-Lexikon

  • Tontine — Tontine, eine Art Leibrente, welche der Italiener Lorenzo Tonti erfand und zuerst 1653 in Frankreich einführte. Bei den T n wird das Kapital von einer ganzen Gesellschaft dargeliehen, welche als Gesammtheit die Zinsen davon zieht. Die Zinsen der… …   Damen Conversations Lexikon

  • tontine — tontíne ž mn DEFINICIJA bank. vrsta obveznica; u zamjenu za posuđeni novac zajmoprimac (država) pristaje zajmodavcima (skupina pojedinaca koji se ne poznaju) plaćati u određenim razdobljima fiksne iznose dok je živ bilo koji član skupine… …   Hrvatski jezični portal

  • tontine — [tän′tēn΄, tän tēn′] n. [Fr < It tontina, after Lorenzo Tonti, Neapolitan banker who introduced the system into France in the 17th c.] 1. a) a fund to which a group of persons contribute, the benefits ultimately accruing to the last survivor… …   English World dictionary

  • Tontine — In cryptography, a tontine is a secret sharing algorithm which allows n people to share secret data, such that any k of them can reconstruct it by combining their keys. : For the Australian pillow manufacturer, see Tontine Group. A tontine is an… …   Wikipedia

  • Tontine — Pour les articles homonymes, voir Tontine (Afrique). La tontine est un contrat aléatoire correspondant au financement collectif de l achat d un actif financier ou d un bien dont la propriété revient à une partie seulement des souscripteurs. On… …   Wikipédia en Français

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