Passive Debt - Law Dictionary Search Results
Home Dictionary Name: passive debtPassive debt
Passive debt, a debt upon which, by or without agreement between the debtor and creditor, no interest is payable, as distinguished from active debt, i.e., a debt upon which interest is payable. In this sense, the term 'active' and 'passive' were long applied to certain debts due from the Spanish Government Distinguish from 'Actif' (assets) to 'Passif' (liabilities) (Fr. law.)...
Passive trust
Passive trust, a trust as to which the trustee has no active duty to perform. Passive uses were resorted to before the Statute of Uses, in order to escape 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 after the statute revived under the form of trusts. as such, they continued to flourish, notwithstanding the singular amelioration effected at a later period in the law of tenure, because the legal ownership was attended with some peculiar inconveniences. For, in order to guard against the forfeiture of a legal estate for life passive trusts, by settlements, were resorted to, and hence, trusts to preserve contingent remainders; and passive trusts were created in order to prevent dower.Where an active trust was created, without defining the quantity of the estate to be taken by the trustee, the court...
passive
passive : not involving, deriving from, or requiring effort or active participation [imposed a duty not to interfere] ;specif : of, relating to, or being business activity in which the investor does not have immediate control over the income-producing activity [ income] [ losses] NOTE: Any rental activity is designated a passive activity under the Internal Revenue Code. Investment income is not considered income from a passive activity. pas·sive·ly adv pas·sive·ness n ...
Passive resisters
Passive resisters, those persons who, as a protest against the expenditure of a local authority in connection with an object of which they disapprove, decline to pay that part of a rate attributable to such expenditure, and by such 'passive resistance' force the local authority to recover the sum withheld by distress and sale or other process. Passive resistance was resorted to especially in connection with the operation of the (English) Education Act, 1902. See R. v. Gillespie, 1904 KB 174....
Passive use
Passive use, a permissive use. See PASSIVE TRUST and USES....
passive negligence
passive negligence see negligence ...
passive trust
passive trust see trust ...
Passive
Not active but acted upon suffering or receiving impressions or influences as they were passive spectators not actors in the scene...
Passively
In a passive manner inertly unresistingly...
Passiveness
The quality or state of being passive unresisting submission...
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