Prepayment Penalty - Law Dictionary Search Results
Home Dictionary Name: prepayment penaltyprepayment penalty mortgage (ppm)
prepayment penalty mortgage (ppm) a type of mortgage that requires the borrower to pay a penalty for prepayment, partial payment of principal or for repaying the entire loan within a certain time period. A partial payment is generally defined as an amount exceeding 20% of the original principal balance. Source: U.S. Department of Housing and Urban Development ...
prepayment penalty
prepayment penalty a fee charged to a homeowner who pays one or more monthly payments before the due date. It can also apply to principal reduction payments. Source: U.S. Department of Housing and Urban Development ...
prepayment
prepayment payment of the mortgage loan before the scheduled due date; may be Subject to a prepayment penalty. Source: U.S. Department of Housing and Urban Development ...
prepay
prepay pre·paid pre·pay·ing : to pay or pay the charge on in advance (as of date due or maturity date) [no penalty for ing your student loan] pre·pay·ment n ...
Prepay
To pay in advance or beforehand as to prepay postage...
sentence
sentence [Old French, opinion, judicial sentence, from Latin sententia, ultimately from sentire to feel, think, express an opinion] 1 : a judgment formally pronouncing the punishment to be inflicted on one convicted of a crime 2 : the punishment that one convicted of a crime is ordered to receive concurrent sentence : a sentence that runs at the same time as another consecutive sentence : a sentence that runs before or after another cumulative sentence : consecutive sentence in this entry ;also : the combination of two or more consecutive sentences death sentence : a sentence condemning the convicted defendant to death de·ter·mi·nate sentence [di-tər-mə-nət-] : a sentence for a fixed rather than indeterminate length of time general sentence : a sentence that does not allocate the punishment imposed for the individual counts on which the defendant was convicted NOTE: General sentences are impermissible. in·de·ter·mi·nate s...
Penalty
Penalty, is a liability under the taxing statute, Khemka & Co. v. State of Maharashtra, AIR 1975 SC 1549.Penalty, is legal or official punishment such as a term of imprisonment, N.K. Jain v. C.K. Shah, AIR 1991 SC 1289. [Employees' Provident Fund Act, 1952, s. 14]Means recovery of an amount as a penal measure in civil proceedings, or an exaction which is not compensatory in character, Jagjit Cotton Textile Mills v. Chief Commercial Superintendent, N.R., (1998) 5 SCC 126.1. A sum agreed to be paid on non-performance of the condition of a bond. See BOND.2. A sum agreed to be paid on breach of an agreement or any stipulation of it. See LIQUIDATED DAMAGES, and NOMINE PEN'. The fact that the parties state expressly in their contract that the sum named is 'liquidated damages' will not prevent the Court from deciding that it is a penalty. 'The cases upon the subject of penalty or liquidated damages are very numerous. The result of them seems to be this, that what the Courts look at is the rea...
Sentence
Sentence, denotes 'A person who is convicted and sentenced to imprisonment is deemed to have been awarded that punishment even in the case where the sentence is suspended for some reason or other, State of Maharashtra v. Chandrabhan Tale, AIR 1983 SC 803: (1983) 3 SCC 387.Sentence, denotes the action of the court before which the trial is held, declaring the consequences to the convict of the fact thus ascertained. Any consequence which flows after conviction can be looked upon as sentence, Mohammad Shabir Maulamaiya v. State of Maharashtra, (1977) Mah LJ 338.Means the judgment that a court formally pronoun-ces after finding a criminal defendant guilty, the punishment imposed on a criminal wrongdoer, Black's Law Dictionary, 7th Edn., p. 1367.The expression 'sentence' must be restricted to a sentence which is final, conclusive and ultimate so far as the judicial remedies are concerned. The alternate interpretation is likely to lead to confusion, inconsistency and contradiction and in pr...
Sentence of a Court
Sentence of a Court, a definite judgment pro-nounced in a criminal proceeding. In the case of indictable offences (except murder, on conviction of which the Court is bound to pronounce sentence of death, by s. 2 of the Offences against the Person Act, 1861 (but see next title), and treason) the extent of the sentence is within a given maximum left to the discretion of the Court, such few maximum sentences as previously were enjoined having been abolished by the (English) Penal Servitude Act, 1891. In passing sentence reference should not be made to the unexpired portion of any former sentence, as this has to be served by virtue of s. 9 of the (English) Penal Servitude Act, 1864; R. v. Smith, (1909) 2 KB 756.See the (English) Infanticide Act, 1922, when in certain cases a verdict of infanticide may be returned, notwithstanding that the circumstances were such that, but for the Act, would have amounted to murder.There is an express power of refraining from sen-tencing at once to punishme...
death penalty
death penalty : death as punishment for a crime called also capital punishment see also cruel and unusual punishment Gregg v. Georgia in the Important Cases section NOTE: The U.S. Supreme Court has held that the death penalty is not inherently violative of the Eighth Amendment's prohibition on cruel and unusual punishment, provided that the method is not deemed cruel and that the punishment is not excessive in relation to the crime. A statute mandating the death penalty is unconstitutional, however. A sentencing judge is required to consider any mitigating circumstances before imposing the death penalty for a crime. ...
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