Preference - Law Dictionary Search Results
Home Dictionary Name: preference Page: 5Lease and release
Lease and release, a mode of conveyance which derived its effect from the Statute of Uses, compounded of a lease for a year at Common Law, or a bargain and sale for a year under the Statute of Uses, and a Common Law Release. This compound conveyance originated thus: The Statute of Enrolments (27 Hen. 8, c. 16) seemed to be confined to cases where an estate of inheritance or freehold, or the use thereof, was to be made or take effect by reason only of a bargain and sale; it was therefore concluded that if a bargain and sale were first made for an estate less than freehold, as for one year, and then the inheritance or freehold were superadded by a separate deed of release, the transaction could not be affected by the statute;and that such release to the bargainee would be valid, without his entry upon the lands, as a consequence of the strong words in the Statute of Uses which converts all vested uses at once into legal estates. The convenience and general applicability of the lease ad r...
Inheritance
Inheritance, or hereditary succession, is the title whereby a man, on the death of his ancestor, acquires his estate by right of representation as his heir t law.The 'canons of inheritance' are the rules directing the descent of real property throughout the lineal and collateral consanguinity of the owner dying intestate.These rules have been abolished in the case of deaths after January 1st, 1926, with a few exceptions (see HEIR), by the (English) Administration of Estates Act, 1925, s. 51, but they still affect the devolution before 1926 of all titles to estates of inheritance.Inheritance Act.--The Inheritance Act, 1833 (3 & 4 Wm. 4, c. 106), materially altered the old canons of real property descent, but because the Act does not extend to any descent which took place on the death of any person who died before the 1st of January, 1834, it is deemed expedient to give both old and new:-Old Canons.--The old Canons, which obtain in cases of ancestors dying before the 1st of January, 1834...
Deferred stock
Deferred stock. Stock in a company is frequently divided into 'preferred,' the holders of which are entitled to a fixed dividend payable out of the net earnings of the whole stock, and 'deferred,' the holders of which are entitled to all the residue of the net earnings, after such fixed dividend has been paid to the holders of the 'preferred,' according to the classification in the memorandum or Articles. See also Companies Act, 1929, s. 50, in regard to companies limited by shares or limited by guarantee. See as to railway companies the Regula-tion of Railways Act, 1868 (31 & 32 Vict. c. 119), s. 13, which limits the power to create such stock to cases where a 3 per cent. dividend has been paid for one year, and puts a fixed maximum dividend on the 'preferred' at the rate of 6 per cent....
Educated unemployed youth
Educated unemployed youth, the expression 'educated unemployed youth' has definite legal connotation. It denotes a class of citizens who after completing their education are faced with unemployment. Rule 223 (2) read with the note embodies a rule of preference. The question of grant of preference under the note beneath R. 223(2) can only arise when other conditions as regards suitability of the rival tenderers is equal. A student still undergoing his studies in a university be regarded as having completed his education or being 'unemployed' youth. When a person is still pursuing his course of studies in a university, there is no basis for treating him as an 'educated unemployed youth', Bishnu Ram Bohrah v. Parag Saikia, AIR 1984 SC 898 (904): (1984) 2 SCC 488. [Assam Excise Rules, 1945, R. 223]...
Winding-up
Winding-up, the process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies.The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other cases the winding-up is usually voluntary and conducted by the company itself either with or without the supervision of the Court. The provisions of the (English) Companies Act, 1929, govern a winding-up in any of these three modes (s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if not of certain value to be...
Abatement
Abatement, a making less:-(1) Abatement of Freehold.-The title of a real action which has been abolished. This takes place where a person dies seised of an inheritance, and before the heir or devisee enters, a stranger, having no right, makes a wrongful entry and gets possession of it. Such an entry is technically called an abatement, and the stranger an abater. It is, in fact, a figurative expression, denoting that the rightful possession or freehold of the heir or devisee is overthrown by the unlawful intervention of a stranger. Abatement differs from intrusion, in that it is always to the prejudice of the heir or immediate devisee, whereas the latter is to the prejudice of the reversioner or remainder man: and disseisin differs from them both, for to disseise is to put forcibly or fraudulently a person seised of the freehold out of possession, Co. Litt. 277a.(2) Abatement of Nuisances.-A remedy allowed by law to a person injured by a nuisance to remove or put an end to it by his own...
upgrade a petition
upgrade a petition If you naturalize (become an American citizen) you may ask the U.S. Citizenship and Immigration Services to change the petitions you filed for family members when you were a lawful permanent resident (LPR) from one category to another. This is called upgrading. For example, a petition for a spouse will be changed/upgraded from F2 to IR1. That is, the petition changes from a preference category with numerical limits to an immediate relative category without numerical limits. The applicant no longer has to wait for her/his priority date to be reached. Upgrading a petition sometimes has consequences. A preference petition for a spouse permits derivative status for children. An immediate relative petition does not. You, the petitioner, would need to file separate petitions for each of your children. Source: Department of State. March 2007. ...
cut-off date
cut-off date The date that determines whether a preference immigrant visa applicant can be scheduled for an immigrant visa interview in any given month. The cut-off date is the priority date of the first applicant who could not get a visa interview for a given month. Applicants with a priority date before or earlier than the cut-off date can be scheduled. However, if your priority date is later (comes after) the cut-off date, you will need to wait longer, until your priority date is reached (becomes current). To find out whether a preference case is current, see the Visa Bulletin or telephone (202) 663-1541. Source: Department of State. March 2007. ...
visa numbers
visa numbers Congress establishes the amount of immigration each year. Immigration for immediate relatives is unlimited; however, preference categories are limited. To distribute the visas fairly among all categories of immigration, the Visa Office in the Department of State distributes the visas by providing visa numbers according to preference and priority date. Source: Department of State. March 2007. ...
freeze
freeze froze fro·zen freez·ing 1 : to cause to become fixed, immovable, unavailable, or unalterable [ interest rates] 2 : to immobilize (as by government regulation or the action of a financial institution) the expenditure, withdrawal, or exchange of [ foreign assets] 3 : to restructure (the capital of a close corporation) so that the value is reflected mostly in preferred stock rather than common stock NOTE: Once capital is frozen, the common shares can be transferred to the heirs of the owner without taxation while the owner continues to enjoy the income from preferred stock dividends during his or her lifetime. freeze n ...
- << Prev.
- Next >>