Back′war‐da″tion (�), n. [Backward, v. t. + -ation.] (Stock Exchange) The seller's postponement of delivery of stock or shares, with the consent of the buyer, upon payment of a premium to the latter; — also, the premium so paid. See Contango. Biddle.
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Webster's Dictionary 1913
Webster's Revised Unabridged Dictionary, C. & G. Merriam Co., 1913.