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Tramways

Chitty's Statutes, tit. 'Tramways'; and Sutton's Tramways Acts. As to purchase of tramways by local authority within six months after the expiration of twenty-one years from the time of authorization of con-struction, or within six months after

Winding-up

see s. 175; of a voluntary winding-up, s. 277), and by s. 266, floating charges created within six months of the commencement of the winding-up are avoided unless the company was solvent immediately after the creation of

Drunkenness

under s. 12 of the (English) Licensing Act, 1872, or otherwise similarly punishable], and who within the twelve months preceding the date of the commission of the offence has been convicted summarily at least three times of

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Criminal Law Amendment Acts, 1885 to 1928 (English)

with such an offence. [R. v. Chapman, (1931) 2 KB 606 (a man of twenty-three yeas and six months can avail himself of this defence).] See AGE. The time within which a prosecution can be commenced under

Executory devise

life, remainder to C., his second son in fee, provided if D. his third son should within three months after the wife's death pay 500l. to C. or his executors, then to D. and his heirs: this

back end ratio (debt ratio)

back end ratio (debt ratio) a ratio that compares the total of all monthly debt payments (mortgage, real estate taxes and insurance, car loans, and other consumer loans) to gross monthly income.

Enrollment

every bargain and sale of a freehold interest was required to be enrolled in Chancery within six [lunar] months after its date. No assurance before 1926 by a tenant-in-tail under the (English) Fines and Recoveries abolition Act,

debt-to-income ratio

to housing and non-housing expenses; With the FHA, the-monthly mortgage payment should be no more than 29% of monthly gross income (before taxes) and the mortgage payment combined with non-housing debts should not exceed 41% of income.

front end ratio

front end ratio a percentage comparing a borrower's total monthly cost to buy a house (mortgage principal and interest, insurance, and real estate taxes) to monthly income before

means test

dismissal or conversion of the case (generally to chapter 13). Abuse is presumed if the debtor's aggregate current monthly income (see definition above) over 5 years, net of certain statutorily allowed expenses, is more than (i) $10,000,

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