Claim In Equity - Law Dictionary Search Results
Home Dictionary Name: claim in equityClaim in equity
Claim in equity. In simple cases, where there was not any great conflict as to facts, and a discovery from a defendant was not sought, but a reference to chambers was nevertheless necessary before final decree, which would be as of course, all parties being before the court, the summary proceeding by claim was sometimes adopted, thus obviating the recourse to plenary and protracted pleadings. This summary practice was created by Orders 22nd April, 1850, which came into operation on the 22nd May following. By Order VIII., Rule 4 of Consolid. Ord. 1860, claims were abolished....
Equitable mortgage
Equitable mortgage, a mortgage under which the mortgagee does not get the legal estate. The following mortgages are equitable:-(1) Where the subject of a mortgage is trust property, which security is effected either by a formal deed or a written memorandum, notice being given to the trustees in order to preserve the priority. As a rule these mortgages include mortgages (not being mortgages of a legal estate) under a trust for sale or settlement which are not registrable under the (English) L.C. Act, 1925, s. 10, Class C.(2) Where the subject of the mortgage is an equity of redemption, which is merely a right to bring an action in the Chancery Division to redeem the estate. Now under the (English) L.P. Act, 1925, Sched. I., Parts VII. (1), (3), and VIII. (1), (3), and see ss. 85, 86, ibid., a mortgagor retains a legal estate in fee simple or for a term of years, and the first and subsequent mortgagees out of that estate each have a legal mortgage.(3) Where mortgages created before 1925 ...
Limitation of actions and prosecutions
Limitation of actions and prosecutions. By various statutes, of which the first was 21 Jac. 1, c. 16, the (English) Limitation Act, 1623, and the principal succeeding ones, the Real Property Limitation Act, 1833 (3 & 4 Will. 4, c. 42), the (English) Civil Procedure Act (3 & 4 Will. 4, c. 27) [see Read v. Price, (1909) 2 KB 724], and 37 & 38 Vict. c. 57, the (English) Real Property Limitation Act, 1874, certain periods are fixed within which, upon the principle Interest reipublic' ut sit finis litium, particular actions must be brought or proceedings taken.In the case of simple contract the remedy on the contract is barred, leaving the creditor free to enforce his claims by other means which may be still available, such as enforcing a lien, subsequent acknowledgment by the debtor or appropriation of payments, but not by way of set-off (9 Geo. 4, c. 14, s. 3). In regard to land, the right to it is destroyed after the statutory period and neither re-entry nor acknowledgment after the laps...
Owner's equity
Owner's equity, is the residual claim of the owners of the business on its assets after recognition of the liabilities of the business. Owner's equity repre-sents the amounts contributed by the owners to the business, plus the accumulated income of the business since its formation, less any amounts that have been distributed to the owners, Accounting and Finance for Lawyers in a Netshell, Charles H. Meyer, 4 (1995).Means the aggregate of the owners' financial interest in the assets of a business entity; the capital contributed by the owners plus any retained earnings. Also termed (in a corporation) shareholders' equity; stockholders' equity, Black's Law Dictionary, 7th Edn., p. 1131....
Remitter of actions to County Court
Remitter of actions to County Court. See (English) County Courts Act, 1934 (24 & 25 Geo.5, c. 53), s. 45, which replaces the County Courts Act, 1919, s. 1, which took the place of the County Courts Act, 1888, s. 65. The High Court may remit to the County Court any action brought in the High Court where (1) the plaintiff's claim is founded either on contract or tort and the amount claimed or remaining in dispute does not exceed 100l., whether the counterclaim (if any) exceeds or does not exceed 100l.; or (2) the only matter remaining in dispute is a counterclaim, founded on contract or tort, not exceeding 100l; or (3) by s. 50, the plaintiff'' claim is for recovery of land, with or without a claim for rent or mesne profits, by a landlord against a tenant (or some one claiming by, through, or under him), whose term has expired or been determined or has become liable to forfeiture for non-payment of rent, and the action could have been brought in the County Court. S. 46 provides for the r...
Action
Action, conduct, something done; also the form prescribed by Law for the recovery of one's due, or the lawful demand of one's right. Bracton (Bk. 3, cap. 1) defines it:-Actio nihil aliud est quam jus prosequendi in judicio quod alicui debetur.-(An action is nothing else than the right of suing in a court of justice for that which is due to some one.) Actions are divided into criminal and civil: criminal actions are more properly called prosecutions, and perhaps actions penal, to recover some penalty under statute, are properly criminal actions. There were formerly three classes of actions in England: personal actions, in which the plaintiff sought to recover a debt or damages from the defendant; real actions, in which he sought to establish his title to land or other hereditaments; mixed actions, in which he sought only to establish his right to possession of land. All forms of action are now abolished, but there still inevitably remains the distinction between actions in personam brou...
debt
debt [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1 : something owed: as a : a specific sum of money or a performance due another esp. by agreement (as a loan agreement) [to pay the s…of the United States "U.S. Constitution art. I"] [a for alimony] b : an obligation to pay or perform on another's claim [discharged the ] compare asset, equity NOTE: It is often up to the courts to decide what is or is not a debt under various laws. Courts disagree whether criminal restitution is a debt under the Bankruptcy Code. The historical practice of imprisoning debtors for nonpayment is no longer used. antecedent debt : debt that is incurred prior to a property transfer paying or securing the debt compare preference bad debt : a debt that cannot be collected NOTE: An income tax deduction is allowed for bad debts. consumer debt : debt that is incurred by an individual primarily for the purchase of ...
equity
equity pl: -ties [Latin aequitat- aequitas fairness, justice, from aequus equal, fair] 1 a : justice according to fairness esp. as distinguished from mechanical application of rules [prompted by considerations of ] [comity between nations, and require it to be paid for "F. A. Magruder"] b : something that is equitable : an instance of equity [the inequities produced by the system are outnumbered by the equities] 2 a : a system of law originating in the English chancery and comprising a settled and formal body of substantive and procedural rules and doctrines that supplement, aid, or override common and statutory law [the judicial power shall extend to all cases, in law and , arising under this Constitution "U.S. Constitution art. III"] see also chancery compare common law, law NOTE: The courts of equity arose in England from a need to provide relief for claims that did not conform to the writ system existing in the courts of law. Originally, the courts of equity exercised great ...
Notice
Notice, the making something known to a person of which he was or might be ignorant. Notice is either (1) statutory; (2) actual, which brings the knowledge of a fact directly home to the party; or (3) constructive or implied, which is no more than evidence of facts which raise such a strong presumption of notice that equity will not allow the presumption to be rebutted. [S. 154, I.P.C. and Art. 61(2)(a) const. 56 Indian Evidence Act]Constructive notice may be subdivided into: (a) where the facts of which actual evidence is supplied give rise to a further enquiry which a man exercising ordinary caution would make equity has added constructive notice of the facts, which that inquiry would have elicited; and (b) where there has been a designed abstinence from inquiry for the very purpose of avoiding notice. See CONSTRUCTIVE NOTICE.A purchaser with notice may protect himself by purchasing the title of another bona fide purchaser for a valuable consideration without notice; for, otherwise, ...
bill
bill 1 : a draft of a law presented to a legislature for enactment ;also : the law itself [the GI ] ap·pro·pri·a·tions bill [ə-prō-prē-ā-shənz-] : a bill providing money for government expenses and programs NOTE: Appropriations bills originate in the House of Representatives. bill of attainder 1 : a legislative act formerly permitted that attainted a person and imposed a sentence of death without benefit of a judicial trial see also attainder compare bill of pains and penalties in this entry 2 : a legislative act that imposes any punishment on a named or implied individual or group without a trial NOTE: Bills of attainder are prohibited by Article I of the U.S. Constitution. bill of pains and penalties : a legislative act formerly permitted that imposed a punishment less severe than death without benefit of a judicial trial compare bill of attainder in this entry NOTE: The term bill of attainder is often used to include bills of p...
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