Advance Note - Law Dictionary Search Results
Home Dictionary Name: advance noteAdvance note
Advance note. A draft on the owners of a ship or their agents issued by the captain to a seaman for a sum not exceeding a month's wages payable to the seaman's order after the sailing of the ship, provided he goes to sea pursuant to his agreement. (Merchant Shipping Act, 1894, s. 140)...
Further advance, or charge
Further advance, or charge, a second or subsequent loan of money to a mortgagor by a mortgagee, either upon the same security as the original loan was advanced upon, or an additional security, Equity considers the arrears of interest on a mortgagee security converted into principal, by agreement between the parties, as a further advance.Although the tacking of a third or subsequent mortgage has been abolished by the Law of Property Act, 1925, s. 94, that s. has expressly preserved the right to tack a further advance by a prior mortgage so that the advance may rank in priority to subsequent mortgages, even if the further advance was made with notice of a subsequent mortgage or charge in cases where the mortgage imposes an obligation to make further advances. Where the mortgage is to secure a current account or any other further advances, notice of an intervening charge will postpone the further advance to that charge but (by way of exception) in this case notice will not be imputed to t...
advancement
advancement : something given in advance ;specif : money or property given as a gift by a living person (as by a parent to a child) with the intention that the amount the recipient inherits under the law from the person's estate will be reduced proportionately compare ademption NOTE: Advancements apply only when the person making the gift dies without a will. The Uniform Probate Code requires written evidence that the gift was intended to be an advancement. A person who gives a gift that is not intended as an advancement cannot later change it to an advancement. A gift given as an advancement can, however, be changed into an outright gift. ...
Advancement
Advancement, promotion; additional price. An advancement clause in a settlement or will is a provision authorizing the trustees, with the consent of the tenant for life, to pay by anticipation a limited portion of the share to which a remainderman will ultimately be entitled for his benefit or advancement in life.In equity the presumption of advancement is an important exception to the doctrine of resulting trusts that a conveyance to a stranger without a consideration is merely a nominal one, and no intention on the face of it of conferring the beneficial interests will result to the grantor. The presumption of advancement generally arises where a person advances money for the purchase of any property or right in the name of another for whom the purchaser is under a legal or even in some cases a moral obligation to provide. It will arise in favour of a wife, legitimate children, and in some cases in regard to persons to whom the purchaser stands in loco parentis, but it has been held ...
ademption
ademption [Latin ademptio, from adimere to take away, from ad to + emere to buy, obtain] 1 : the revocation of a gift in a will inferred from the disposal (as by sale) of the property by the maker of the will before he or she dies 2 : the revocation of a gift in a will inferred from the maker's gift before his or her death of the same or similar property to the recipient named in the will compare advancement NOTE: Only gifts that are characterized as specific devises, bequests, or legacies are subject to ademption. ...
Advance
Advance [fr. avancer, Fr., to push forwards, fr. avant, Fr., avante, It., ab ante, Lat.], money paid before it is due 'a loan; increase.Advance means an advance, whether in cash or in kind, or party in cash or partly in kind, made by one person (hereinafter referred to as the creditor) to another person (hereinafter referred to as the debtor). [Bonded Labour System (Abolition) Act, 1976, (19 of 1976), s. 2(a)]...
note
note 1 a : a written promise to pay a debt ;specif : promissory note in this entry bank note : a promissory note issued by a bank payable to bearer on demand but without interest and circulating as money cog·no·vit note [kÄ g-nō-vit-, kōg-] : a note in which the maker acknowledges the debt and authorizes the entry of judgment against him or her without notice or a hearing : a note containing a confession of judgment collateral note : a note secured esp. by a collateral mortgage and pledged to secure an obligation of which a hand note usually serves as evidence demand note : a note payable on demand compare time note in this entry floating rate note : a negotiable note that yields an indexed and periodically adjusted variable rate of interest called also floater hand note : a note for an obligation secured by a collateral note non-recourse note : a note whose satisfaction upon default may be obtained only out of the collateral securing it promisso...
advance
advance ad·vanced ad·vanc·ing : to supply or provide ahead of time: as a : to give (a gift) by way of or as an advancement b : to supply (as money) beforehand in expectation of repayment or other future adjustment n : a provision of something (as goods or money) before a return is received ;also : the money or goods supplied ...
advance parole
advance parole Permission to return to the United States after travel abroad granted by DHS prior to leaving the U.S. The following categories of people may need advance parole Source: Department of State. March 2007. ...
Advanced member
Advanced member, a member of a building society who has obtained an advance of money from the society on mortgage of real or leasehold estate; see BUILDING SOCIETY....
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