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Pari passu

context of creditors who, in marshalling assets, are entitled to receive out of the same fund without any precedence over each other, N.D. Jayal v. Union of India, (2004) 9 SCC 362 (389). Mean 'By an equal

Perpetuity

expectant upon an entail, for it can be destroyed by barring the entail; but should the entail be preceded by a term for years, and its trusts be postponed until the failure of the issue in tail,

Merger

by means of such intermediate estate. (3) The estate in reversion or remainder must be larger than the preceding estate, for there cannot be a merger as between equal estate of freehold. Under s. 88 of the

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Piedpoudre, Court of

to administer justice for all commercial injuries done in that very fair or market, and not in any preceding one; so that the injury must be done, complained of, heard and determined, within the compass of one

Portion

term in order to provide the portions when they became payable. See SATISFIED TERM; ATTENDANT TERM. This term preceded the settlement of the estate in fee or in tail according to the intention of the settlor. This

Postman

Postman, a barrister in the Court of Exchequer and Exchequer Division of the High Court, who had precedence in motions till the Exchequer was merged in the Queen's (now King's) Bench Divi-sion

Potior est conditio possidentis

Potior est conditio possidentis, (The possessor is in the stronger position.) See POSSESSION and next preceding title.

Predecessor

Predecessor, one who has preceded another. The word predecessor has a technical signification in law, answering to successor in the case of a

Premises

Premises (pr'missa), in logic, propositions antecedently supposed or proved. In a deed the 'premises' are all the parts preceding the habendum. The word properly applies to what has been previously described or mentioned, and is used only

Previous conviction

proof of the identity of the prisoner. See Previous Convic-tions Act, 1836. As to evidence of conviction within preceding five years of any offence involving fraud or dishonesty when prisoner is charged with receiving stolen goods, see

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