Construction Loan - Law Dictionary Search Results
Annuity
source of payment is mixed and consists of real and personal estate, its nature will depend upon the construction which the Court will give to the grant. In a will an annuity of this kind in prima … borrower undertaking to pay an annuity during his own life, instead of interest and the return of the loan. The borrower is the grantor, and the lender is the grantee, of such annuity. Government annuities may be
bailment
business entity taking possession is liable to some extent for loss or damage to the property compare deposit loan for consumption and loan for use at loan NOTE: The typical elements of a bailment are delivery of … of the delivery, and possession or control of the property. Any of these elements may be actual or constructive. Bailments may be created by contracts, either express or implied, which require agreement, and the agreement may also
principal
business] [the obligor] 2 : of, relating to, or constituting principal or a principal [the amount of the loan] n 1 : a participant in an action or transaction esp. having control or authority [the s of … b : one who commits a crime or instigates, encourages, or assists another to commit it esp. when constructively or actually present see also accessory principal in the first degree : a principal under common law who
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liability
or may not be owed depending on the outcome of a contingency (as a cosigner's default on a loan) fixed liability : a liability (as a bond or mortgage) that does not mature for at least one … (as negligence or intent) vicarious liability : liability that is imposed for another's acts because of imputed or constructive fault (as negligence) see also respondeat superior 3 : liability insurance
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