Equitable Asset - Law Dictionary Search Results
Floating charge
the (English) Finance Act, 1915, s. 27, and may be said to denote a security which is an equitable charge on the assets for the time being of a going concern. It allows of the business being … 1915, s. 27, and may be said to denote a security which is an equitable charge on the assets for the time being of a going concern. It allows of the business being carried on and the
Retainer of debts
of the administration bond) has a legal right to retain his own debt out of the legal or equitable [(English) Administration of Estates Act, 1925, s. 34 (2)] assets in priority to all other creditors of equal … his own debt out of the legal or equitable [(English) Administration of Estates Act, 1925, s. 34 (2)] assets in priority to all other creditors of equal degree, and before the costs of all parties, including the
Floating security
Floating security, in an equitable charge on the assets for the time being of a going concern. If attaches to the subject charged … Floating security, in an equitable charge on the assets for the time being of a going concern. If attaches to the subject charged in the varying condition
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trust
in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also … receive payments of a fixed percentage and not less than five percent of the value of the trust assets as determined annually for a specified period after which the remainder passes to charity charitable trust : a
Priority
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 … but registration, if available (as in the case of any mortgage), amounts to notice. See also PREFERENTIAL PAYMENTS; ASSETS.
equity
[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 … : the ownership interests of shareholders in a company d : the common stock of a corporation compare asset, debt
Autre vie, Estate pur
The lowest estate of freehold which the law allowed before 1926. After 1925 the estate has become an equitable interest, (English) Law of Property Act, 1925, s. 1. If limited to the grantee and his heirs, it … Estate pur autre vie now devolve on the personal representative (Administration of Estates Act,1925, s. 11), and are assets for the payment of debts (s. 32, ibid.). a tenant pur autre vie appears to be a 'limited
Uses
and laid the foundation of modern conveyancing. Before the Statute of Uses, a use was in its nature equitable, as such; it may be defined to have been a right in Chancery to the beneficial ownership of … broken in upon by statute 12 Ric. 2, c. 3. (10) At one time a use was not assets for the payment of debts by the heir or executor. There appears to have been a distinction between
Winding-up
unable to pay its debts; or (6) 'Whenever the Court is of opinion that it is just and equitable that the company should be wound up.' As from the commencement of the winding-up by the court (see … and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other
Annuity
of the body being born. But now under s. 130 of the (English) L. P. Act, 1925, an equitable estate tail may be created after 1925 in respect of an annuity or any other personal estate if … A created annuity is a general legacy, and will abate with the other legacies upon a deficiency of assets. It commences, as a rule, from the death of the testator [Re Robbins, (1907) 2 Ch 13], but
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