Constructive Trust - Law Dictionary Search Results
Home Dictionary Name: constructive trust Page: 3Tail
Tail [fr. tailler, Fr., to prune]. An estate-tail was formerly a freehold of inheritance and is now an equitable interest which may be created after 1925 in respect of personalty as well as realty by way of trust and which (if not barred or disposed of by will after 1925) will devolve inequity on the person who would have taken realty as heir of the body or as tenant by the curtesy if the Law of Property Act, 1925, had not been passed [s. 130 (4) (ibid.)]The limitation of an estate so that it can be inherited only by the fee owner's issue or class of issue, Black's Law dictionary 7th Edn., p. 1466.An estate-tail in land now constitutes a settlement. [(English) Settled Land Act, 1925, s. 1]With this and other statutory modifications under the (English) Law of Property Act, 1925, the rules relating to this form of estate are still applicable (a) in the investigation of all titles to land in existence on the 31st December, 1925; (b) in the construction of equitable interests into which th...
Cy-pres
Cy-pres (near to it). The principle of this doctrine of construction is, that where a testator hs two objects,one primary or general and the other secondary or particular, which are incompatible, the particular must be sacrificed in order that effect may be given to the general object, as near as may be to the testator' intention, according to law. Thus, where a testator has devised lands in a manner transgressing the rules of perpetuity and the Court can by giving the estates tail to the devisees, or any of them carry the property in the precise course marked out by the testator, supposing the estates left to themselves, it will do so, see Monypenny v. Dering, 16 M & W 418. The doctrine did not apply to personalty nor to a mixed fund. See Re Harwood, Coleman v. Innes, 1936 Ch 285.It is also applied to charitable bequests, and was formerly pushed to a most extra-vagant length. But this sensible distinction now prevails, that the court will not decree the execution of a charitable trust...
Joint-tenancy
Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter of conveyance or claim in solido, and not as merchan-dise, or for purposes of speculation, to two or more persons in the same right, either simply, or by construction or operation of law jointly, with a jus accrescendi, that is, a gradual concentration of property from more to fewer, by the accession of the part of him or them that die to the survivors or survivor, till it passes to a single hand, and the joint-tenancy ceases.Anciently, joint-tenancy was favoured because it did not induce fractions of estates, and returning to early principles the (English) Land Legislation of 1925 has employed the tenure generally as the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that legal estate has been ...
Deed
Deed [fr. d'd, Sax.; ded gaded, Goth.;daed, Dut.], a formal document on paper or parchment duly signed, sealed, and delivered. It is either an indenture (factum inter partes) needing an actual indentation [(English) Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 5], reproduced by the Law of Property Act, 1925, s. 56 (2), made between two or more persons in different interests, or a deed-poll (charta de una parte) made by a single person or by two or more persons having similar interests. By the (English) Law of Property Act, 1925, s. 57, a deed may be described according to the nature of the transaction, e.g., 'this lease,' 'this mortgage,' etc., or as a 'deed' and not habitually by the word 'indenture.'The requisites of a deed are these:-(1) Sufficient parties and a proper subject of assurance.(2) It must be written, engrossed, printed, or lithographed, or partly written or engrossed, and partly printed or lithographed in any character or in any language, on paper, vellum, or parchm...
Priority
Priority, an antiquity of tenure in comparison with another less ancient; also that which is before another in order of time.As to priority among creditors, see (English) Admin-istration of Estates Act, 1869, reproduced by ss. 32 to 34, (English) Administration of Estates Act, 1925, and the First Sch., which provides that in the administration of the estate of any person who shall die on or after 1st January, 1870, no debt or liability of such person shall be entitled to any priority or preference by reason merely that the same is secured by or arises under a bond, deed, or other instrument under seal, or is otherwise made or constituted a specialty debt.The priority in legal and equitable assignments of equitable choses in action are determined accord-ing to the date of receipt of notice by the persons who are for the time being owners of the legal interest in the property assigned. Before 1926 the notice might be verbal; after 1926 it must, for the purposes of establishing priority a...
fraud
fraud [Latin fraud- fraus] 1 a : any act, expression, omission, or concealment calculated to deceive another to his or her disadvantage ;specif : a misrepresentation or concealment with reference to some fact material to a transaction that is made with knowledge of its falsity or in reckless disregard of its truth or falsity and with the intent to deceive another and that is reasonably relied on by the other who is injured thereby b : the affirmative defense of having acted in response to a fraud 2 : the crime or tort of committing fraud [convicted of securities ] see also misrepresentation NOTE: A tort action based on fraud is also referred to as an action of deceit. actual fraud : fraud committed with the actual intent to deceive and thereby injure another called also fraud in fact compare constructive fraud in this entry collateral fraud : extrinsic fraud in this entry constructive fraud : conduct that is considered fraud under the law despite the absence of an intent to...
Charity Commissioners
Charity Commissioners. The Charity Commissio-ners for England and Wales are a body appointed under the provisions of the Charitable Trusts Acts, 1853 to 1925, and their powers and duties are to be found in these Acts. They exercise very extensive powers of management and control over charities, including power to authorize sales, exchanges, leases and mortgages of charity property; to frame new schemes where the original terms of the trust can no longer be literally or beneficially complied with; to investigate the accounts of charitable trusts; to sanction proceedings by the trustees and give them advice, and many other powers. There are, however, certain institutions exempted from their jurisdiction, e.g., certain universities and colleges, registered places of worship, and charities wholly supported by voluntary contributions; see s. 62 of the Act of 1853, the construction of which has given rise to great difficulties, and the judgment of Davey, L.J., in Re Clergy Orphan Corporation...
principal
principal 1 : being the main or most important, consequential, or influential [their place of 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 a business]: as a : one who engages another to act for him or her subject to his or her general control or instruction : one from whom an agent derives authority to act compare fiduciary 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 intentionally commits and is actually or constructively present at the commission of a crime principal in the second degree : a principal under common law who aids, encourages, or commands another to commit a crime and is actually or constructively present when it is committed c : the per...
Development work
Development work, construction of the under-ground market is not intended and meant to destroy the intrinsic character of a public park but on the contrary, the scheme is to re-locate and re-develop the park as a public park as a place for public recreation. Construction of underground market is held to be development work, Calcutta Youth Front v. State of West Bengal, AIR 1988 SC 436 (439). [Calcutta Municipal Corporation Act, 1980 (59 of 1980), s. 353(2) Expl.]Development works, construction of schools, hospitals and community centres and other community buildings do not come within the purview of the term 'development works', D.L.F. Qutab Enclave Complex Educational Charitable Trust v. State of Haryana, (2003) 5 SCC 622 (634). [Haryana Development and Regulation of Urban Areas Rules 1976, R. 2(b)]...
Reservoirs
Reservoirs. As to construction of reservoirs, see (English) Waterworks Clauses Acts, 1847 (10 & 11 Vict. c. 17) and 1863 (26 & 27 Vict. c. 93), and the (English) Reservoirs Safety Provisions Act, 1930 (20 & 21 Geo. 5, c. 51). For powers and procedure of local authorities to construct, lease or purchase reservoirs, see (English) Public Health Act, 1936, ss. 116-123, subject to the conditions imposed by the Acts. The (English) Limited Owners Reservoirs and Water Supply Further Facilities Act, 1877 (40 & 41 Vict. c. 31), gives limited owners power to form reservoirs and to charge their estates with the expense. Reservoirs are among the 'improvements' which may be made with capital trust money under the (English) Settled Land Act, 1882; see s. 25 (xiii.); now under the (English) Settled Land Act, 1925, s. 83, and 3rd Sch., Part I....
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