Webster’s Revised Unabridged Dictionary · 1913
Backwardation
Back′war·da′tion (băk′wẽr·dā′shŭn), 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.