Perpetuity - Law Dictionary Search Results
Home Dictionary Name: perpetuity Page: 3 Page 3 of about 154 results ( seconds)Renewal of lease
Renewal of lease, a re-grant of an expiring lease for a further term. Where a lease contains a covenant by the lessor for renewal, this convenant is commonly subject to the condition that the covenants in the lease shall have been performed by the lessee, and this condition is strongly enforced by the Court, Finch v. Underwood, (1876) 2 Ch D 310.Leases may be surrendered in order to be renewed, without a surrender of under-leases, by virtue of the (English) Landlord and Tenant Act, 1730 (4 Geo. 2, c. 28), s. 6, before which Act a surrender of each under-lease was necessary.As to covenants for perpetual renewal, see Wynn v. Conway Corporation, (1914) 2 Ch 705, and cases there referred to.By the (English) Law of Property Act, 1922, s. 145, and 15th Sch., perpetually renewable leases have, from the 1st January, 1926, been converted into terms of 2,000 years from the date of the commen-cement of the existing term. The conversion is without prejudice to the covenants and conditions of the l...
Accumulation
Accumulation, a gathering together, heaping up, or amassing. The dominion over property, and its rents, issues, and profits, is restrained by our law as regards perpetuity and accumulation. See PERPETUITY.The prospective accumulation of income of real or personal estate is restrained by the (English) Law of Property Act, 1925, s. 164, replacing with amendments the (English) Accumulations Act, 1800 (39 & 40 Geo. 3, c. 98); commonly called 'The (English) Thellusson Act,' because the case of Thellusson v. Woodford, 4 Ves 227-343, 1798; and 11 Ves 112-151, 1805 was the occasion of its enactment. The (English) Act of 1925 declares that no person shall by any instrument or otherwise settle or dispose of any property, in such manner that the income thereof shall be accumulated for any longer term than--(1) The life of the grantor or settlor;(2) 21 years from the death of the grantor or settlor, or testator;(3) During the minority of any person who shall be living on en ventre sa mere at the t...
Emphyteusis
Emphyteusis, the jus emphyteuticarium, or as it is more generally called, emphyteusis, was the right of enjoying all the fruits, and disposing at pleasure of the property of another, subject to the payment of a yearly rent (pensio or canon) to the owner. Formerly the lands of the Roman municipalities, or of the college of priests, used to be let for different terms of years, sometimes for a short term, such as five years, sometimes for a term amounting almost to a perpetuity, under the name of agri vectigales (Gai. iii. 145). Afterwards the lands of private individuals were let in a similar manner, and were also comprehended under the term agri vectigales. The emperors let their patrimonial lands in a similar way, and these lands so let were termed emphyteuticarii (C. xi. 58, 61), a name arising from there being a new ownership, or what almost amounted to an ownership, engrafted on the real dominion. Either shortly before or in the time of Justinian, the two rights, that of the ager ve...
Injunction
Injunction, Expression 'injunction' in s. 41(b) is not qualified by an adjective and, therefore, it would, comprehend both interim and perpetual injunc-tion, Cotton Corporation of India v. United Industries Ltd., AIR 1983 SC 1272 (1277): (1983) 4 SCC 625. [Specific Relief Act, 1963, s. 41(b)]This is the discretionary process of preventive and remedial justice, whereby a person is required to refrain from doing a specified meditated wrong, not amounting to a crime. It is either (1) inter-locutory, i.e., provisional or temporary, until the coming in of the defendant's answer, or until the hearing of the cause; or (2) perpetual, i.e., forming part of a decree made at a hearing upon the merits, whereby the defendant is perpetually inhibited from the assertion of a right, or perpetually res-trained from the commission of an act contrary to equity and good conscience. As to mandatory injunctions, see post.See Specific Relief Act, 1963 (47 of 1963), s. 37.Prior to the Judicature Act injunctio...
Corporation or body politic
Corporation or body politic, an artificial person es-tablished for preserving in perpetual succession certain rights, which being conferred on natural persons only would fail in process of time. It is either aggegate, consisting of many members, or sole, consisting of one person only, as a parson. It is also either spiritual, created to perpetuate the rights of the Church, or lay'sub-divided into civil, created for many temporal purposes, and eleemosynary, to perpetuate founders' charities. It is by virtue of the sovereign's prerogative exercised by a charter, or of an Act of Parliament, or of prescription, that the artificial personage called a corporation, whether sole or aggregate, civil or ecclesiastical, is created. The royal charter gives it a legal immortality, and a name by which it acts and becomes known. It has power to make bye-laws for its own government, and transacts its business under the authority of a common seal-its hand and mouthpiece; it has neither soul nor tangibl...
Copyhold
Copyhold. Tenure in copyhold has been abolished under the (English) L.P. Acts, 1922 and 1925, and the Amending Acts of 1924 and 1926, but the greater part of the former title on this subject has been retained verbatim in view of the importance of the subject in examining titles. In the previous edition of this work, copyhold was described as a base tenure founded upon immemorial custom and usage; its origin is undiscoverable, but it is said to be the ancient villeinage modified and changed by the commutation of base services into specified rents, either in money or money's worth.A copyhold estate is a parcel of the demesnes of a manor held at the lord's will, and according to the custom of such manor. The tenant may have the same quantities of interest in this tenure as he may enjoy in freeholds, as an estate in fee-simple or (by particular custom) fee-tail, or for life, and he may have only a chattel interest of an estate for years in it. By the custom of some manors, the estate devol...
Court of record
Court of record, a court of record envelops all such powers whose acts and proceedings are to be enrolled in a perpetual memorial and testimony. A court of record is undoubtedly a superior court which is itself competent to determine the scope of its jurisdiction, M.M. Thomas v. State of Kerala, (2000) 1 SCC 666.In relation to any matter, means the court to which proceedings with respect to the matter are allocated or transferred, Halsbury's Laws of England, Vol. 3(2), para 747, p. 405.Members of the State judiciary below the High Court are subordinate to the High Court and the control over the district courts and court subordinate thereto is vested in it, Constitution of India, Durga Das Basu, Vol. H, 6th Edn., p. 286.Although the Supreme Court as the final appellate court, can revise the decisions of the High Court, the High Courts are not administratively subordinate to the Supreme Court, Commentary on the Constitution of India, Durga Das Basu, Vol. H, 6th Edn., p. 233.Means the cou...
Fraudulent conveyances, Statutes against
Fraudulent conveyances, Statutes against, sect. 172 of the (English) L.P. Act, 1925, now provides that every conveyance of property made either or before 1925 with intent to defraud creditors shall be voidable at the instance of any person thereby prejudiced, but the s. does not affect disentailing assurances or the law of bankruptcy, nor does it extend to conveyances in good faith either for valuable or for good consideration to any person without notice of fradulent intent. This enactment replaces 13 Eliz. c. 5 (A.D. 1570), made perpetual by 29 Eliz. c. 5. See Twyne's case, (1602) 3 Rep 80; 1 Smith's L.C. 1; Halifax Bank v. Gledhill, (1891) 1 Ch 31.The 27 Eliz. c. 4, s. 2, made perpetual by 39 Eliz. c. 18, enacts that every conveyance of lands, made with the intent to defraud and deceive any person, bodies politic or corporate, who shall purchase the same, shall be deemed (as against that person, etc.) to be utterly void. But the Act shall not be construed to defeat or make void any ...
Contingent remainder
Contingent remainder, a remainder limited so as to depend on an event or condition which may never happen or be performed, or which may not happen or be performed till after the determination of the preceding estate, Fearne, Cont. Remainders.The legal estate in contingent remainders has been abolished by the 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) S.L. Act, 1925. See SETTLED LAND.In Smith d. Dormer v. Parkhurst, (1740) 18 Vin. Abr. 413; 6 Bro. Cas. Par. 351, the Court held that, in every case where an estate is given to A. for life, the grantor has an interest remaining in him to enter upon the estate, if it should determine by any act of the tenant amounting to a forfeiture; that this right is inherent in the grantor, from the nature of the estate itself, and may be conveyed to trustees; and that, when it is conv...
Option of purchase in a lease
Option of purchase in a lease. A clause giving the lessee the option of purchasing the reversion for a fixed sum within a limited number of years, or at anytime during the term, is sometimes inserted in leases. A clause giving an option of purchase at any time during a ninety-nine years' lease offends against the law of perpetuities (see that title) and cannot be specifically enforced, Woodall v. Clifton, (1905) 2 Ch 257; Worthing Corporation v. Heather, (1906) 2 Ch 532. For statement of opinion that the clause 'to be completely valid must be so expressed that the option must necessarily be exercised (if at all) within the limits of the time allowed by the rule against perpetuities,' so that probably not more than twenty one years could be allowed in a lease independent of life, see article by Mr. T. Cyprian Williams in the Solicitors' Journal for July 9, 1898; and for cases on option of purchase generally, see Woodfall, L. & T....
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