Short Term - Law Dictionary Search Results

Home Dictionary Name: short term

short-term capital gain

short-term capital gain see gain ...

short rate 1 : an insurance premium charge for less than a year of coverage that is more than a pro rata part of the annual premium 2 : an insurance policy written for less than one year called also short term ...

Usual Covenants

Usual Covenants, covenants usually inserted in deeds having a similar scope to that in respect of which a question arises. The phrase occurs most frequently in connection with agreements for leases stipulating that the lease when granted shall contain 'all usual covenants.' What these are is a question of fact, but it may perhaps be laid down that at the present day covenants by the lessee to pay rent, to pay taxes, and to repair, and a qualified covenant by the lessor for quiet enjoyment (see that title), are usual, but that no others are, and in particular that the covenant not to assign or underlet without the leave of the lessor is not: see Hampshire v. Wickens, (1878) 7 Ch D 555; Re Lander, (1892) 3 Ch 41.A proviso for re-entry on breach of covenants generally is not 'usual,' but a proviso for re-entry on breach of the covenant to pay rent is: see per James, LJ, in Hodgkinson v. Crowe, (1875) LR 10 Ch 622; Re Anderton, (1890) 45 Ch D 476.Usual terms, a phrase in the Common Law pra...

Emphyteusis

Emphyteusis, the jus emphyteuticarium, or as it is more generally called, emphyteusis, was the right of enjoying all the fruits, and disposing at pleasure of the property of another, subject to the payment of a yearly rent (pensio or canon) to the owner. Formerly the lands of the Roman municipalities, or of the college of priests, used to be let for different terms of years, sometimes for a short term, such as five years, sometimes for a term amounting almost to a perpetuity, under the name of agri vectigales (Gai. iii. 145). Afterwards the lands of private individuals were let in a similar manner, and were also comprehended under the term agri vectigales. The emperors let their patrimonial lands in a similar way, and these lands so let were termed emphyteuticarii (C. xi. 58, 61), a name arising from there being a new ownership, or what almost amounted to an ownership, engrafted on the real dominion. Either shortly before or in the time of Justinian, the two rights, that of the ager ve...

Terms

Terms, the periods during which the superior courts at Westminster were open.The legal year consists of four terms: Michaelmas, Hilary, Easter, and Trinity (which see), the year beginning with Michaelmas Term.The commencement and duration of the terms were fixed by 11 Geo. 4 & 1 Wm. 4, c. 70, s. 6, and 1 Wm. 4, c. 3, s. 3. By the first of these enactments Hilary Term began on the 11th and ended on the 31st of January; Easter Term began on the 15th of April and ended on the 8th of May; Trinity Term began on the 22nd of May and ended on the 12th of June; and Michaelmas Term began on the 2nd and ended on the 25th of November. Vacations in the Equity Courts were regulated also by Cons. Ord. V.By the (English) Judicature Act, 1873, s. 26, now repealed, it was provided that the division of the legal year into terms should be abolished so far as relates to the administration of justice. But in all other cases in which, under the law previously existing, the terms into which the legal year is ...

Mortgage

Mortgage [fr. mort, Fr., dead, and gage, pledge], a deed pledge; a thing put into the hands of a creditor.A mortgage is the creation of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned in a clause technically called the proviso for redemption, he will be entitled to have his property again free from the mortgagee's claim; but should he not comply with such proviso, the legal estate becomes perfected in the mortgagee, i.e., indefeasible, and so los...

asset

asset [back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez enough] 1 : the entire property of a person, business organization, or estate that is subject to the payment of debts used in pl. compare equity 2 : an item of property owned admitted asset : an asset allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry appointive asset : an asset in an estate that is to be distributed under a power of appointment capital asset : a tangible or intangible long-term asset esp. that is not regularly bought or sold as part of the owner's business ;specif : any asset classified as a capital asset by law (as section 1221 of the Internal Revenue Code) cur·rent asset : a short-term asset (as inventory, an account receivable, or a note) that can be quickly converted into cash equitable asset : an asset esp. in an estate that is sub...

bill

bill 1 : a draft of a law presented to a legislature for enactment ;also : the law itself [the GI ] ap·pro·pri·a·tions bill [ə-prō-prē-ā-shənz-] : a bill providing money for government expenses and programs NOTE: Appropriations bills originate in the House of Representatives. bill of attainder 1 : a legislative act formerly permitted that attainted a person and imposed a sentence of death without benefit of a judicial trial see also attainder compare bill of pains and penalties in this entry 2 : a legislative act that imposes any punishment on a named or implied individual or group without a trial NOTE: Bills of attainder are prohibited by Article I of the U.S. Constitution. bill of pains and penalties : a legislative act formerly permitted that imposed a punishment less severe than death without benefit of a judicial trial compare bill of attainder in this entry NOTE: The term bill of attainder is often used to include bills of p...

loan

loan 1 a : money lent at interest b : something lent usually for the borrower's temporary use 2 : a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usually with interest ;broadly : the furnishing of something to another party for temporary use with the agreement that it or its equivalent will be returned [the leasing of the vehicle was termed a subject to usury statutes] bridge loan : a short-term loan used as a means of financing a purchase or enterprise prior to obtaining other funds [used a bridge loan to purchase a new home prior to the sale of their previous one] con·ven·tion·al loan [kən-ven-chə-nəl-] : a loan for the purchase of real property that is secured by a first mortgage on the property rather than by any federal agency demand loan : a loan that is subject to repayment upon demand of the lender home equity loan : a loan or line o...

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