Executory Interest - Law Dictionary Search Results
contract
one states an inaccurately high price for the purpose of defrauding a lender into providing a larger loan executory contract : a contract that sets forth promises that are not yet performed express contract : a contract … a pension fund) with an insurance company that guarantees the return of principal and a specific amount of interest at the end of the contract term ;also : such a contract considered as an investment [purchased a
Pawn or Pledge
should be an actual delivery of the thing to the pledgee; for until delivery, the whole contract is executory, however strong may be the engagement to deliver it; and the pledgee acquires no right of property in … the hands of a stranger for safe custody, without consideration; for he may sell or assign all his interest in the pawn, or he may convey the same interest conditionally, by way of pawn, to another person,
Passive trust
estate to be taken by the trustee, the courts endeavoured in the case of devises by will land executory contracts to give by construction the quantity originally requisite to satisfy the trust in every event, although the … from the trammels and hardships of the Common Law, the permanent division of property into legal and equitable interests being clearly an invention to lessen the force of some pre-existing law. For similar reasons equitable interests were
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Terms for years
be limited in succession or by way of remainder except by way of trust or by will as executory devises and an estate tail could not be limited in a term at all. It vested in the … is denominated a term, because its enjoyment is strictly fixed, for by 'term' is meant not only the interest which passes, but also the period for which it is held. It is a chattel real: chattel, because
Covenant
lan or thing granted,or ae collateral to it; affirmative, or negative; executed, or that which is alreadyd one; executory, or that which is to be done. Shep. Touch. 160; Bac. Abr.Covenant (G); Com. Dig. Covenant (F); Vn. … Dodd, 52 LJ Ch 34) who were not parties to a deed to take the benefit of any interest, right or covenant respecting land, and this was extended by s. 56 of the (English) L.P.Act, 1925, to
Contingent remainder
all respects as if the contingent remainder had originally been created as a springing or shifting use or executory devise or other executory limitation. Contingent remainders are subject to the rule against perpetuities [Re Ashforth, (1905) 1 … Law of Property Act, 1925, s. 1. S. 4, whoever, provides that they can take effect as equitable interests, and any instrument creating a contingent remainder has become a settlement under s. 1 (ii) of the (English)
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