Power Of Revocation - Law Dictionary Search Results
power of revocation
power of revocation see power ...
Revocation and new appointment
Revocation and new appointment. The appoint or may reserve a power of revocation and new appointment in the deed of appointment, although not expressly authorized so to do by the assurance creating the power; and such a power may be reserved toties quoties. By a revocation the original power revives. When a deed of appointment contains no power of revocation it is absolute and cannot be revoked, although there be a power of revocation in the assurance creating the power. When a power is executed by will, an express power of revocation need not be reserved, since a will is always revocable. Consult Sugden or Farewell on Powers....
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
Power of Attorney
Power of Attorney (Letter of Attorney), a writing usually, but not always necessarily, under seal authorizing another person, who is called the attorney of the person appointing him, to do any lawful act in the stead of another, as to give seisin of lands, receive debts or sue a third person. it is either general or special. The nature of this instrument is to give the attorney the full power and authority of the maker to accomplish the act intended to be performed. If it is an authority coupled with an interest, e.g., if the attorney is authorized to collect debts and pay there out a debt due to himself, it is irrevocable. As it is necessary for certain purposes (e.g., execution of a deed) that it should be under seal, a power of attorney is usually in the form of a deed. By ss. 8 and 9 of the (English) Conveyancing Act, 1882, now (English) Law of Property Act, 1925, ss. 126 and 127, powers of attorney may be made irrevocable either absolutely or for a limited period according as they...
power
power 1 : capability of acting or of producing an effect [parties of unequal bargaining ] 2 a : authority or capacity to act that is delegated by law or constitution often used in pl. commerce power often cap C&P : the power delegated to Congress under Article I, Section 8 of the U.S. Constitution to regulate commerce esp. among the states see also commerce clause concurrent power : a power that is held simultaneously by more than one entity ;specif : a power delegated to the federal government by the U.S. Constitution that is also held by the states enu·mer·at·ed powers [i-nü-mə-rā-təd-, -nyü-] : the powers specifically named and delegated to the federal government or prohibited to be exercised by the states under the U.S. Constitution compare reserved powers in this entry executive power : the power delegated to the executive of a government ;specif : any or all of the powers delegated to the president under Article II of the U.S...
power of attorney
power of attorney :an instrument containing an authorization for one to act as the agent of the principal that terminates esp. upon revocation by the principal or death of the principal or agent called also letter of attorney du·ra·ble power of attorney [dr-ə-bəl-, dyr-] : a power of attorney that becomes effective upon the principal's becoming incompetent or unable to manage his or her affairs and that is often used as a form of advance directive compare living will general power of attorney : a power of attorney authorizing the agent to carry on business or an enterprise for the principal compare special power of attorney in this entry irrevocable power of attorney : a power of attorney that cannot be revoked by the principal special power of attorney : a power of attorney authorizing the agent to carry out a particular business transaction for the principal ...
offeror
offeror : one that makes an offer to another [acceptance of the offer terminates the power of revocation that the ordinarily has "J. D. Calamari and J. M. Perillo"] ...
Charitable uses and trusts
Charitable uses and trusts. 9 Geo. 2, c. 26, commonly called 'The Mortmain Act,' 1735, after reciting that ifts or alienations of land in mortmain (see MORTMAIN) were prohibited by Magna Charta and other whole-some laws as prejudicial to the common utility, and that such public mischief had greatly increased by many large and improvident dispositions, made by languishing 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 land should be given to any person or bodies corporate, or charged by any person in trust, for any charitable uses, unless such gift, etc., should be made by deed (thus entirely excluding gifts by will) executed twelve months before the death of the donor and be enrolled in the court of Chancery within six calendar months after execution, and be without any power of revocation for the benefit of the donor.T...
Revocation of agency
Revocation of agency. An agency is dissolved or determined in several ways:-(I) by the act of the principal, either(a) Express, as(1) By direct and formal writing, publicly a advertised;(2) By informal writing to the agent privately;(3) By parol; or(b) Implied from circumstances as by appointing another person to do the same act, where the authority of both would be incompatible.The exceptions to the power of the principal to revoke his agent's authority at mere pleasure are--(1) When the principal has expressly stipulated that the authority shall be irrevocable, and the agent has also an interest in its execution.(2) Where an authority or power is coupled with an interest, or is given for a valuable consideration, or is a part of a security, unless there is an express stipulation that it shall be revocable.(3) When an agent's act in pursuance of his authority has become obligatory, for nemo potest mutare consilium suum in alterius injuriam.(II.) By the agent's giving notice to his pri...
Revocation
Revocation, includes cancellation of all orders invalid as well as valid, Hadibandu Das v. District Magistrate, AIR 1969 SC 43 (48). [Preventive Detention Act, 1950, s. 13(2)]The undoing of a thing granted, or a destroying or making void of some deed that had existence until the act of revocation made it void. It may be either general, of all acts and things done before; or special, to revoke a particular thing, 5 Rep. 90.The word revocation' means annulling, rescinding, withdrawing. In the facts and circumstances of the case orders of release cancelling orders of detention amount to revocation of orders of detention, Pradip Kumar Das v. State of West Bengal, AIR 1974 SC 2151 (2153): (1975) 3 SCC 335: (1975) 1 SCR 327. [MISA., s. 14(2)]Revocation is a process of recall of what had been done, Ibrahim Bachu Bafan v. State of Gujarat, AIR 1985 SC 697 (700): (1985) 2 SCC 24: (1985) 2 SCR 891.The word revocation is only apposite when it is intended to repeal, annul or withdraw some order wh...
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