S 137 - Law Dictionary Search Results
Home Dictionary Name: s 137Abstract of title
Abstract of title. A concise statement, usually prepared for a mortgagee or purchaser of real property, summarising the history of a piece of land including all conveyances interests, lines & encumbrances that reflect title to property, Black's Law Dictionary, 7th Edn., an epitome of the evidence of title to property or power to deal with it.Every purchaser of land or real estate has an implied right to have an abstract of title delivered to him within a reasonable time, Compton v. Bagley, (1892) 1 Ch 313. As to registered land, see the Land Registration Act, 1925, s. 110, and Brickdale and Stewart-Wallace on the Land Registration Act, 1925.An abstract is said to be perfect if it deduces the title from the date fixed by the contract or by statute for its commencement and discloses every incumbrance affecting it, by setting out the material parts of all deeds, wills and other documents, and stating the facts on which it depends: fc. 1 Pres. 42, 207. The statutory period is thirty years,...
Priority
Priority, an antiquity of tenure in comparison with another less ancient; also that which is before another in order of time.As to priority among creditors, see (English) Admin-istration of Estates Act, 1869, reproduced by ss. 32 to 34, (English) Administration of Estates Act, 1925, and the First Sch., which provides that in the administration of the estate of any person who shall die on or after 1st January, 1870, no debt or liability of such person shall be entitled to any priority or preference by reason merely that the same is secured by or arises under a bond, deed, or other instrument under seal, or is otherwise made or constituted a specialty debt.The priority in legal and equitable assignments of equitable choses in action are determined accord-ing to the date of receipt of notice by the persons who are for the time being owners of the legal interest in the property assigned. Before 1926 the notice might be verbal; after 1926 it must, for the purposes of establishing priority a...
Dearle v. Hall
Dearle v. Hall. The rule which takes its name from this case, reported 1823, 3 Russ. 1, originated with the bankruptcy rule conferring the priority of assignments of choses in action according to the date of notice to the debtor by the assignment, Ryall v. Rowles, 1 Ves Sess 348. Before 1926 the rule was that the priority of equitable assignments of debts and other choses in action was determined by priority in date of notice to the trustees or other owners of the legal interest in the property assigned, see Ward v. Duncombe, 1893 AC 369. The rule did not extend to equitable interests in land except to proceeds of land held on trust for sale, see Lloyd's Bank v. Pearson, (1901) 1 Ch 685, and QUI PRIOR EST TEMPORE POTIOR EST JURE. S. 137 of the Law of Property Act, 1925, has extended the rule to dealings with equitable interests in land, capital money (see s. 205(1)(xxvi.) of the Act), and securities representing capital money effected after 1925. To effect priority among competing assi...
In any such case
In any such case, The opening words of sub-s. (3) of s. 137, viz., 'In any such case' make it clear that its concessional provisions apply only to the immediately preceding clause, namely, s. 137(2), Anant Mills Co. Ltd. v. State of Gujarat, AIR 1975 SC 1234: (1975) 2 SCC 175: (1975) 3 SCR 220....
Chose
Chose [Fr., a thing]; it is used in divers senses, of which the four following are the most important:--(1) Chose local, a thing annexed to a place, as a mill, etc.(2) Chose transitory, that which is movable, and may be taken away, or carried from place to place.(3) Chose in action, otherwise called chose in suspense, a thing of which a man has not the possession or actual enjoyment, but has a right to demand by action or other proceedings, as a debt, bond, etc. A well-known rule of the Common Law was that no possibility, right, title, or thing in action, could be assigned to a third party, for it was thought that a different rule would be the occasion of multiplying litigation: as it would in effect be transferring a lawsuit to a mere stranger, though the assignee might, at law, and was assisted in equity to sue the debtor in the name of the assignor. At law, therefore, with the exception of negotiable instruments, an interesse termini, and some few other securities, this until 1873 c...
Equity of redemption
Equity of redemption. Before 1926 the equitable estate or interest left in a person after he had mortgaged his property. Now the right to call for a reconveyance of a legal estate or of an equitable interest in property from the mortgagee on payment of principal, interest and costs. A mort-gagee, although he has become absolute owner of a legal estate in the mortgaged property, on account of the breach of the condition for repayment of the loan within the strict time, is nevertheless compelled to reconvey the legal estate to the mortgagor, who applies to redeem it, on payment of the principal, interest, and costs, Equity treating the breach of the condition as a penalty, and the retention for the mortgagee's own benefit of that which was intended simply as a pledge, as contrary to substantial justice.The right or equity of redemption is an essential attribute of a mortgage; it is inherent in the thing itself, and any provision inserted in the mortgage to defeat the right is void as a '...
Inspector
Inspector, an overseer, examiner and reporter. There are government and local authority inspectors of factories, mines, shops, weights and measures, ancient monuments, schools, explosives, inebriate reformatories, railways, food, housing and sanitation, Health and Unemployment Insurance, to name a few only of the extensive powers of investigation and inspection by government and other public bodies. As to Board of Trade inspectors to investigate the affairs of a company, see (English) Companies Act, 1929, s. 135; and inspectors appointed by the company itself by special resolution (s. 137, ibid.).Inspector means an Inspector of Mines appointed under this Act, and includes a district magistrate when exercising any power or performing any duty of an Inspector which he is empowered by this Act to exercise or perform. [Mines Act, 1952 (35 of 1952), s. 2(i)]Means an Inspector appointed by the Council under s. 23, the Maharashtra State Council for Occupational, Therapy and Physiotherapy Act,...
agent
agent 1 : someone or something that acts or exerts power : a moving force in achieving some result 2 : a person guided or instigated by another in some action [where the heads of departments are the political…s of the executive, merely to execute the will of the president "Marbury v. Madison, 5 U.S. 137 (1803)"] see also innocent agent 3 a : a person or entity (as an employee or independent contractor) authorized to act on behalf of and under the control of another in dealing with third parties see also agency, fiduciary relationship, subagent compare fiduciary, principal, servant apparent agent : an agent acting under an agency by estoppel bar·gain·ing agent : a labor union that represents the employees in a bargaining unit in negotiating with their employer through collective bargaining business agent : an agent that handles business affairs for another person or organization ;esp : a paid official of a union who carries on union business between the employ...
Qui prior est tempore potior est jure
Qui prior est tempore potior est jure. Co. Litt. 14 a, (He who is first in time is better in law.) Broom's Leg. Max. Equitable incumbrances rank as a rule according to their dates; the first grantee in potior, that is, potentior; he has a better and superior, because a prior, equity, Phillips v. Phillips, (1862) 4 De GF&J 215. But the acquisition of the legal estate may make a most material alteration in the rights of the parties, Bailey v. Barnes, (1894) 1 Ch 25, and the application of the rule in Dearle v. Hall, to land by s. 137 of the Law of Property Act, 1925, has lessened the importance of the maxim. See PRIORITIES....
Divine Service, Tenure by
Divine Service, Tenure by, an obsolete holding, in which the tenants were obliged to perform some special divine services, as to sing so many masses, etc., Litt. S. 137....
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