Contingent Interest - Law Dictionary Search Results
Home Dictionary Name: contingent interest Page: 4 Page 4 of about 47 results (0.004 seconds)Settled land
Settled land. For the purposes of the (English) Settled Land Acts, 1882-1890, 'settled land' meant land, and any estate and interest therein, which was the subject of a settlement; and 'settlement' meant any instrument, or any number of instruments, under which any land, or any estate or interest in land, 'stands for the time being limited to or in trust for any persons by way of succession' (Settled Land Act, 1882, s. 2) (see infra for the statutory definitions in the Settled Land Act, 1925, which has repealed the S.L. Acts, 1882-1890). Where the settlement consists of more instruments than one it is commonly called a 'compound settlement,' though this term is not defined in the Acts themselves; as to compound settlements, see Re Du Cane & Nettlefold, (1898) 2 Ch 96; Re Munday & Roper, (1899) 1Ch 275; Re Lord Wimborne & Browne (1904) 1 Ch 537; Wolstenholme & Cherry, Conveyancing, etc., Acts.Prior to 1856 settled estates could not be sold or leased except under the authority of some po...
Bond
Bond [fr. binda, band, bunden, A. S., to bind], a written acknowledgement or binding of a debt under seal. See DEED. No technical form of words is necessary to constitute a bond; see Gerrard v. Clowes, (1892) 2 QB 11; Strickland v. Williams, (1899) 1 QB 382. The person giving the bond is called the obligor, and he to whom it is given the obligee. A bond is called single (simplex obligatio) when it is without a penalty, but there is generally a condition added, that, if the obligor does or forbears from some act, the obligation shall be void, or else shall remain in full force, and the bond is then called a double or conditional one; see Dav. Prec. Vol. V., pt. Ii., p. 268. When a bond contains a penalty, which is generally double the amount of the principal sum secured, only the sum actually owing, with interest, can be recovered, and in no case can this exceed the amount appearing on the face of the bond. See 8 & 9 Wm. 3, c. 11, s. 8; Re Dixon, (1900) 2 Ch 561.Although it is unnecessa...
Tail
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...
Law of Property Act, 1925 (English)
Law of Property Act, 1925 (English) 915 Geo. 5,c. 20), with amending Acts, 1926, 1929 and 1932 (cited together as the Law of Property Acts, 1925 to 1932), has consolidated and effected changes in the land laws with the object of simplifying the transfer and conveyance of land. An important change was the abolition of all legal estates or tenures in land, except an estate in fee simple in possession, and a term of years absolute in or in certain incorporeal hereditaments arising out of annexed to or charged upon the legal estate in land. Any number of these legal estates can exist in respect of the same piece of land or incorporeal hereditament; for instance, land may be held in fee simple, leased and mortgaged at the same time. all other estate and interests inland are reduced to equitable interests. All mortgages of the same legal estate under the statutory conditions are legal estates. None being for the whole fee simple or the term, but each for a term taken out of the fee or origin...
fee
fee [Middle English, fief, from Old French fé fief, ultimately from a Germanic word akin to Old High German fehu cattle] 1 : an inheritable freehold estate in real property ;esp : fee simple compare leasehold life estate at estate absolute fee : a fee granted with no restrictions or limitations on alienability : fee simple absolute at fee simple conditional fee : a fee that is subject to a condition: as a : fee simple conditional at fee simple b : fee simple on condition subsequent at fee simple defeasible fee : a fee that is subject to terminating or being terminated determinable fee : a defeasible fee that terminates automatically upon the occurrence of a specified event : fee simple determinable at fee simple fee patent : a fee simple absolute that is granted by a patent from the U.S. government ;also : a patent that grants a fee simple absolute [the land shall have the same status as though such fee patent had never been issued "U.S. Code"] NOTE: Allotm...
Estate
Estate [fr. status, Lat.; etat, Fr.], the condition and circumstance in which an owner stands with regard to his property. The word is used in several senses and may denote either an estate in land; or an estate in property other than land; a legal estate or an equitable estate, land being an immovable is capable of being the subject of many estates existing concurrently with each other, thus the absolute ownership or fee simple may be leased and sub-leased, mortgaged and charged, each of the holders of these estates having a good legal or equitable estate at the same time; again, estates may be in possession, or in futuro; personal property may also be subject concurrently to a variety of ownerships, according to its nature; technically, in regard to land, the word is used to denote the quantity of interest, e.g., estate in fee simple, for life, for years, etc., in either legal or equitable estates. In practice its most important division is into real estate and personal estate, altho...
Scheme
Scheme, a 'scheme' is a carefully arranged and systematic programme of action. A transaction under which, one party deposits with the other or lends to that other a sum of money on promise of being paid interest at a rate higher than the agreed rate of interest cannot, without more, be a money circulation scheme' within the meaning of s. 2(c) of the Act, howsoever high the promised rate of interest may be in comparison with the agreed rate, State of West Bengal v. Swapan Kumar Guha, AIR 1982 SC 949 (953): (1982) 1 SCC 561: (1982) 3 SCR 121.Means a scheme inviting subscription to security receipt proposed to be issued by a securitisation company or reconstruction company under that scheme. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(y)]1. A systematic plan; a connected or orderly arrangement, esp. of related concepts 2. An artful plot or plan usu. to deceive others, Black's Law Dictionary, 7th Edn., p. 1346....
Damages
Damages, constitute the sum of money claimed or adjudged to be paid in compensation for loss or injury sustained, the value estimated in money, of something lost or withheld, Divisional Controller K.S.R.T.C. v. Mahadeva Shetty, (2003) 7 SCC 197 (202).The expression 'damages' is neither vague nor over-wide. It has more than one signification but the precise import in a given context is not difficult to discern. A plurality of variants stemming out of a core concept is seen in such words as actual damages, civil damages, compensatory damages, consequential damages, contingent damages, continuing damages, double damages, excessive damages, exemplary damages, general damages, irreparable damages, pecuniary damages, prospective damages, special damages, speculative damages, substantial damages, unliquidated damages. But the essentials are (a) detriment to one by the wrongdoing of another, (b) reparation awarded to the injured through legal remedies, and (c) its quantum being determined by t...
Wills
Wills. A will is the valid disposition by a living person, to take effect after his death, of his disposable property. ''But in law ultima voluntas in scriptis is used, where lands or tenements are devised, and testamentum, when it concerneth chattels': Co. Litt. 111 a.Depository of Will of Living Person.-By the (English) Jud. Act, 1925, s. 172, replacing s. 91 of the Court of Probate Act, 1857:-There shall, under the control and direction of the High Court, be provided safe and convenient depositories for the custody of the wills of living persons, and any person may deposit his will therein.And see (English) Administration of Justice Act, 1928 (18 & 19 Geo. 5, c. 26), s. 11, as to deposit of wills under control of the High Court.Law before 1838.-The right of testamentary aliena-tion of lands is a matter depending on Act of Parliament. Before 32 Hen. 8, c. 1, a will could not be made of land, and before the Statute of Frauds a will (see NUNCUPATIVE WILL) could be made by word of mouth...
easement
easement [Anglo-French esement, literally, benefit, convenience, from Old French aisement, from aisier to ease, assist] : an interest in land owned by another that entitles its holder to a specific limited use or enjoyment (as the right to cross the land or have a view continue unobstructed over it) see also dominant estate and servient estate at estate compare license, profit, right of way, servitude affirmative easement : an easement entitling a person to do something affecting the land of another that would constitute trespass or a nuisance if not for the easement compare negative easement in this entry apparent easement : an easement whose existence is detectable by its outward appearance (as by the presence of a water pipe) ap·pur·te·nant easement [ə-pərt-n-ənt-] : easement appurtenant in this entry common easement : an easement in which the owner of the land burdened by the easement retains the privilege of sharing the benefits of the easeme...
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