Instituted Heir - Law Dictionary Search Results
freeze
unalterable [ interest rates] 2 : to immobilize (as by government regulation or the action of a financial institution) the expenditure, withdrawal, or exchange of [ foreign assets] 3 : to restructure (the capital of a close … stock rather than common stock NOTE: Once capital is frozen, the common shares can be transferred to the heirs of the owner without taxation while the owner continues to enjoy the income from preferred stock dividends during
Uses
general schemes of ordering property, it intro-duced a great many unforeseen inconveniences, and subverted in many instances the institution and policy of the Common Law. 'Firstly. Estates passed by way of use, from one to another, by … que use, or notice of his will, would convey the estate to the cestui que use or his heirs, or any other person by his direction; and (3) that if the feoffee to uses had been dispossessed,
Presentation
Presentation, the offering by the patron of a benefice to the ordinary of a person to be instituted to the benefice. It must be in writing (29 Car. 2, c. 3), and is in the nature … appendant, or if an advowson in gross, may present; and his right descends by cause of inheritance, from heir to heir, or passes to a devisee or purchaser, unless the benefice become vacant in the lifetime of
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Corporation or body politic
constitute but one person in law. The duty of a corporation is to answer the ends of its institution-to enforce which it maybe visited: if spiritual, by the ordinary; if lay, by the founder or his representatives; … the High Court: the eleemsoynary, by the endower (who is the fundator perficines of such), or by his heirs or assigns. The distinction between corporations and trading partnerships is, that in the first the law sees only
Advowson
the right of patronage. Collation is the conferring of a benefice by a bishop. It is an immediate institution without any presentation, and is completed by the induction of the collatee. Where a bishop collates and dies … in gross, as when the right originated in an agreement that a builder of a church and his heirs should be its patrons ratione fundationis, yet the greater number of them were primarily appendant, becoming by subsequent
Charitable uses and trusts
of lands or moneys charged thereon to the trustees of the British Museum for the benefit of that institution (5 Geo. 4, c. 39 s. 3); or to the Governors of Queen Anne's Bounty (2 & 3 … or dying persons to charitable uses, to take place after their deaths to the disherison of their lawful heirs, enacted that no lands or other hereditaments whatsoever, nor money, or personal estate to be laid out in
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