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Winding-up
and (if the company is registered in England) postpones the claims of debenture holders under any floating charge created by the company, but only so far as the assets are insufficient to meet the claims of the
Wills
by a devise or bequest referring specifically either to the property or the instrument under which it was created or acquired, or to entailed property generally. If not so disposed of, the property does not become subject
Will, Estate at
or lessee to the possession of land during the pleasure of both the grantor and himself, yet it creates no sure or durable right, and is bounded by no definite limits as to duration. It must be
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Undivided shares in land
of Property Act, 1925, s. 1 (6), a legal estate is not capable of subsisting or of being created in an undivided share inland, and by the same s. 1 (3) and ss. 34 (4), 205, and
Tenancy in Common
following notes have been kept verbatim to explain titles as they existed immediately before 1926. This estate is created when several persons have several distinct estates, either of the same or of a different quantity, in any
Shebaitship
heritable property. It follows that, where the founder does not dispose of the shebaiti rights in the endowment created by him, the shebaitship devolves on the heirs of the founder according to Hindu Law, if no usage
Revocation and new appointment
and new appointment in the deed of appointment, although not expressly authorized so to do by the assurance creating the power; and such a power may be reserved toties quoties. By a revocation the original power revives.
Retrospective law
it came into force. Every statute which takes away or impairs vested rights acquired under existing laws, or creates a new obligation, imposes a new duty, or attaches a new disability in respect to transactions or considerations
Secured creditor
other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due repayment by any borrower of any financial assistance. [Securitisation and Recon-struction of Financial Assets and Enforcements
Quasi traditio
respect of a thing not one's own, e.g. a usufruct or a right of way could only be created by means of certain definite legal forms. The practoriam law, on the other hand, allowed a servitude to
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