Endowment - Definition - Law Dictionary Home Dictionary Definition endowment

Definition :

Endowment, wealth ensured in perpetuity to any person or use. The assuring dower to a woman; the setting forth a sufficient portion for a vicar towards his perpetual maintenance when the benefice is appropriated; the creation of a perpetual provision out of lands or money for any institution or person. as to the meaning of the term in s. 62 of the Charitable Trusts Act, 1853, see Re Clergy Orphan Corporation, (1894) 3 Ch 145.

A gift of money or property to an institution (such as university) for a specific purpose esp. in which the principal kept intact indefinitely and only interest income from that principal is used, Black's Law Dictionary, p. 548.

Endowment is dedication of property for purposes of religion or charity having both the subject and object certain and capable of ascertainment, Pratap Singh Ji N. Desai v. Deputy Charity Commissioner, AIR 1987 SC 2004 (2069): 1987 Supp SCC 714.