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Personal property
not the actual occupation of the thing, but only a right to it arising upon some contract, and recoverable by an action at law.Any person may assign personal property, including chattels real, directly to himself and another … person to whom they are given for life takes the absolute interest. The proper and usual mode of creating limited interests in personal property is by means of the doctrine of trusts, i.e., by vesting the property
Trust
Trust, is a comprehensive expression, as covering not only the relationship of trustee and beneficiary but also that a bailor and bailee master and servant pledger and pledgee, guardian … an obligation on the trustee to use the property for achieving the purpose for which the trust is created, Baba Jamuna Das Mahanth v. Prescribed Authority, Urban Land Ceiling, Gorakhpur, AIR 1984 All 357. Means the right,
privilege
where an action is deemed to be justifiable (as in the case of self-defense) or because of the requirements of a position or office ;also : the affirmative defense that an action is privileged compare excuse absolute … as a matter of discretion that may be limited or taken away [right to…mooring permit is not necessarily created because discretionary state was generously granted in [the] past "National Law Journal"] compare right d in the civil
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Term of years absolute
(English) Law of Property Act, 1925, s. 205 (1) (xxvii.), as a term of years in possession or reversion whether or not at a rent with or without impeachment for waste, subject or not to another legal … of years determinable with life or lives or with the cesser of a determinable life interest, nor if created after 1925 a term of years which is not expressed to take effect in possession within twenty-one years
Settled land
deed and a trust instrument, and if effected in any other way shall not operate to transfer or create a legal estate.' See VESTING INTRUMENT and TRUST INSTRUMENT. By s. 1, ibid., a settlement now includes one … Act, 1882, s. 2) (see infra for the statutory definitions in the Settled Land Act, 1925, which has repealed the S.L. Acts, 1882-1890). Where the settlement consists of more instruments than one it is commonly called a
contract
contract [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com- with, together + trahere to draw] 1 : an agreement between two or more … from com- with, together + trahere to draw] 1 : an agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the
Apportionment
parts (usually unequal) proportioned to the rights of more claimants than one. It is either (1) Apportionment in respect of time, or (2) Apportionment in respect of estate. Apportionment in respect of Time.--At Common Law there is … of the Act of 1911, as to conditions irrespectively of the date of the lease. A further extension creating a new right upon severance is to be found in s. 140 of the 1925 Act. Assignees of
declaration
a person who firmly believes that he or she is about to die and has no hope of recovery and that concerns the circumstances or cause of the presumed death compare excited utterance, res gestae NOTE: Dying … and model) regarding the subject (as a car) and coverage of an insurance policy 4 : a statement creating or giving notice of the creation of a legal entity, relationship, or status ;also : the instrument embodying
Stamp duties
Stamp duties, a branch of the revenue. They are a tax imposed on all parchment and paper whereon certain legal proceedings and certain private ins-truments … Leases or Agreements for Leases, (4) Mortgages whether legal or equitable, or (5) Settlements, the Act of 1888 created the new offence of not stamping, imposing the special penalty of ten pounds, which falls upon the obligee,
Wills
chattels': Co. Litt. 111 a. Depository of Will of Living Person.-By the (English) Jud. Act, 1925, s. 172, replacing s. 91 of the Court of Probate Act, 1857:- There shall, under the control and direction of the … by a devise or bequest referring specifically either to the property or the instrument under which it was created or acquired, or to entailed property generally. If not so disposed of, the property does not become subject
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