Executory Fines - Law Dictionary Search Results
Home Dictionary Name: executory finesExecutory fines
Executory fines, the fines sur cognizance de droit tantum; sur concessit; and sur done grant en render. Abolished by 3 & 4 Wm. 4, c. 74....
Executory devise
Executory devise. Mr. Fearne (Cont. Rem. 386) defines an executory devise to be, strictly, such a limitation of a future estate or interest in lands or chattels (though, in the case of chattels personal, it is more properly an executory bequest) as the law admits in the case of a will, though contrary to the rules of limitation in conveyances at Common Law. It is only an indulgence allowed to a man's last will and testament, where otherwise the words of the will would be void; for wherever a future interest is so limited by devise as to operate as a contingent remainder, such an interest is not an executory devise, but a contingent remainder.Executory Devises have been divided into three kinds, two relative to real, and the third to personal estate only, viz.:-(1) Where a testator devises his whole fee-simple, but upon some contingency qualifies such devise, and limits an estate on the contingency; e.g., a devise of land to the testator's wife for life, remainder to C., his second son ...
Executory limitation
Executory limitation. A limitation of a future interest by deed or will; if by will, it is also called an executory devise. The (English) Conveyancing Act, 1882 (45 & 46 Vict. c. 39), s. 10, restricted executory limitations of land contained in an instrument coming into operation after 1st January, 1883, by the enactment:'Where there is a person entitled to land for an estate in fee, or for a term of years absolute or determinable on life, or for term of life, with an executory limitation over on default or failure of all or any of his issue whether within or at any specified period of time or not, that executory limitation shall be or become void and incapable of taking effect, if and as soon as there is living any issue who has attained the age of 21 years, of the class on default or failure whereof the limitation over was to take effect.' See Re Booth, (1900) 1 Ch 768; Re Shrubb, 1910 WN 143.These provisions were re-enacted by s. 134 of the (English) Land Charges Act, 1925, and exte...
executory limitation
executory limitation : a limitation that creates an executory interest [a fee simple subject to an executory limitation] see also executory interest at interest ...
executory contract or lease
executory contract or lease Generally includes contracts or leases under which both parties to the agreement have duties remaining to be performed. (If a contract or lease is executory, a debtor may assume it or reject it.) Source: Administrative Office of the U.S. Courts ...
Executory trusts
Executory trusts. In the case of articles of agreement, made in contemplation of marriage, and which are consequently preparatory to a settlement, and in the case of those wills which are merely directory of a subsequent conveyance, the trusts declared by them are said to be executory or imperfect, because they require an ulterior act to raise and perfect them. They are rather considered as instructions for settlements than as instruments in themselves complete; and therefore Equity, in order to promote the presumed views of the parties in the one case and to support the manifest intention of the testator in the other, will attach to the words expressive of the trusts a more liberal and enlarged construction than they would admit if applied either to the limitation of a legal estate or a trust executed, 1 Sand. Uses and Trusts, 237, Lord Glenorchy v. Bosville, (1733) Cas Temp Talb 3; 1 W&TLC....
Executory uses
Executory uses, springing uses, which conferred a legal title answering to an executory devise; as when a limitation to the use of A. in fee is defeasible by a limitation to the use of B., to arise at a future period, or on a given event. After the repeal of the (English) Statute of Uses, (English) L.P. act, 1925, s. 207 and Sched. VII., the limitations can only be created and take effect as equitable interests, Law of Properties Act, 1925, s. 4....
Fine
Fine, a sum of money or mulct imposed upon an offender, also called a ransom. See PENALTY.An amicable final agreement or compromise of a fictitious or actual suit to determine the true possessor of land, Black's Law Dictionary, 7th Edn., p. 646.A sum of money paid by a tenant at his entrance into his land; or for the renewal of a lease; and see FINES IN COPYHOLDS.An assurance by matter of record, founded on a supposed previously existing right, abolished by the Fines and Recoveries Act, 1833 (3 & 4 Wm. 4, c. 74). In every fine, which was the compromise of a fictitious suit and resembled the transactio of the Romans, there was a suit supposed, in which the person who was to recover the thing was called the plaintiff, conusee, or recognisee, and the person who parted with the thing the deforceant, conusor, or recognisor. It was termed a fine for its worthiness, and the peace and quiet it brought with it'finis fructus exitus et effectus legis. There are five essential parts to the levying...
Fines in copyholds
Fines in copyholds. A fine which is preserved by 12 Car. 2, c. 24, s. 6, is a sum of money payable by custom to the lord. There are three classes of fines:- (1) those due on the change of the lord; (2) those on the change of the tenant; and (3) those for a licence to the tenant to do certain acts.When the fine is due on the change of the lord, such change must be by the act of God, and not in consequence of any act of the party. It can therefore be only claimed on the death of the lord.When it is due on the change of the tenant, it matters not whether that change is effected by the act of God, or by the tenant's own act. Whenever the tenancy is changed, a fine is payable.Those fines which are due to licenses by the lord, to empower the tenant to do certain acts, as to demise, etc., are rare. There must be a special custom to support such fine, for, by general custom, fines are due only on admissions.The admission fine is prima facie uncertain and arbitrary, or rather arbitrable, unless...
executory
executory : designed or of such a nature as to be performed in the future or to take effect on a future contingency [cancellation of the portion of the contract "J. J. White and R. S. Summers"] compare contingent ...
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