Executor Fund - Law Dictionary Search Results
Home Dictionary Name: executor fundexecutor fund
executor fund see fund ...
fund
fund 1 : a sum of money or other resources whose principal or interest is set aside for a specific objective cli·ent security fund : a fund established by each state to compensate clients for losses suffered due to their attorneys' misappropriation of funds common trust fund : an in-house trust fund established by a bank trust department to pool the assets of many small trusts for greater diversification in investing executor fund : a fund established in estate planning to provide for the payment of final expenses by an executor joint wel·fare fund : a fund that is established by collective bargaining to provide health and welfare benefits to employees and that is jointly administered by representatives of labor and management paid-in fund : a reserve cash fund in lieu of a capital stock account set up by mutual insurance companies to cover unforeseen losses sink·ing fund : a fund set up and accumulated by regular deposits for paying off the principal on a debt...
Executor
Executor. A person appointed by a testator to carry out the directions and requests in his will, and to dispose of the property according to his testamentary provisions after his decease.One who performs or carries out some act, Black's Law Dictionary, 7th Edn., p. 591.The leading duties and responsibilities of an executor may be thus classed:-(1) He will not be allowed as against creditors extravagant funeral expenses if the testator died insolvent; and if he neglects to secure the property, and loss ensue, he will be personally liable for a devastavit, but will not be responsible for mere neglect to take out probate (Re Stevens, (1898) 1 Ch 162). See DEVASTAVIT.(2) By operation of law by virtue of his office he takes a title to the personal property of the testator which vests him with full power ovr the testator's chattels, Attenborough v. Solomon, 1913 AC 76, and by Administration of Estates Act, 1925, s. 1, extending and amending the Land Transfer Act, 1897, real property devolves...
Executor of an executor
Executor of an executor. The interest in a testator's estate and effects, vested in his executor, at the decease of the executor, devolves upon such executor's executor; but in the case of the decease of an administrator, a fresh administration must be granted; for this reason, that, whereas an executor is appointed by the testator, an administrator merely derives his authority from the Court of Probate. See In the Goods of Reid, 1896, P. 129; and A.E. Act, 1925, s. 7....
Executor de son tort.
Executor de son tort. See (English) A.E. Act, 1925, ss. 28, 29, and s. 55(1)(xi.). If a stranger take upon himself to act as executor or administrator (see 14 Halsbury's L. of E., 2nd Edn., para. 282), without any just authority (as by intermeddling with the goods of the deceased, and any other transactions), he is called in Law an executor of his own wrong, de son tort, and is liable to the extent of the assets which have come to him and to all the trouble of an executorship without any of the profits or advantages; but the doing of acts of necessity or humanity, as locking up the goods or burying the corpse of the deceased, will not amount to such an intermeddling as will charge a man as executor of his own wrong. Such an one cannot bring an action himself in right of the deceased; but actions may be brought against him, 1 Wms. Exors.; and see Peters v. Leeder, (1878) 47 LJ QB 573; A.-G. v. New York Breweries Co., 1899 AC 62. As to his liability in respect of a term of years of which...
Debtor-Executor
Debtor-Executor. At law, if a testator appoints his debtor executor, the debt is released. In equity, however, the executor is accountable for the amount of his debt, as assets of the testator. See Freakley v. Fox, 9 B. & C. 134; Re Hyslop, (1894) 3 Ch 522; and see Wms. On Executors, 12th Edn., p. 858....
De son tort, executor
De son tort, executor, a stranger who takes upon himself to act as executor. See EXECUTOR DE SON TORT...
Executor lucratus
Executor lucratus, an executor who has assets in his hands; it included the case of an executor of a testator who in his lifetime made himself liable by a wrongful interference with the property of another; see Davidson v. Tulloch, (1860) 6 Jur. (N.S.) 543, H.L.3 Macq....
Funds, public
Funds, public, the name given to the public funded debt due by Government. The practice of borrow-ing money to defray a part of the war expenditure began, with us, in the reign of William III. In the infancy of the practice it was customary to borrow upon the security of some tax, or portion of a tax, set apart as a fund for discharging the principal and interest of the sum borrowed. This discharge was rarely effected. The public exigencies still continuing, the loans were continued, or the taxes again mortgaged for fresh ones. At length the practice of borrowing for a fixed period, or, as it is called, upon terminable annuities, was abandoned, and loans made upon interminable annuities, or until it might be convenient for the Government to pay off the principal. Such loans are called Funded Debt, or 'The Funds'; loans for a fixed period are said to be 'Unfunded'.In the beginning of the funding system the term 'fund' meant the taxes or funds appropriated to the discharge of the princip...
Fund
Fund, the word 'fund' may, mean actual cash resources of a particular kind (e.g., money in a drawer or a bank), or it may be a mere accountancy expression used to describe a particular category which a persons uses in making up his accounts, R.K. Dalmia v. Delhi Administration, AIR 1962 SC 1821 (1834).Means the Building and Other Construction Workers' Welfare Fund of a Board constituted under sub-s. (1) of s. 24, See also Building and Other Construction Workers' Welfare Cess Act, 1996 (28 of 1996), s. 2(b), Building and Other Construction Workers' (Regulation of Employment and Conditions of Service) Act, 1996 (27 of 1996), s. 2(1)(k).A sum of money or other liquid assets established for a specific purpose, Black's Law Dictionary, 7th Edn., p. 682.Means the fund of the institute to be maintained under s. 19, National Institute of Fashion Technology Act, 2006, s. 2(f).Means the advocates' welfare fund constituted under sub-section (1) of s. 3, Advocates Welfare Fund Act, 2001, s. 2(g)....
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