Simple Trust - Law Dictionary Search Results
Deed
habendum in an appointment under a power or (before 1926) in a covenant to stand seised, or a simple declaration of uses, because such deeds themselves fulfil that office by limiting the estate to be created. (g) … lesser. Then consenting parties and covenantors. After these, those who take any estate or interest, and, amongst these, trustees follow real owners. Lastly, those who are inserted to fix them with notice of the deed, as creditors,
Infant
c. 62), it is enacted (ss. 1 and 2) that:- 1. All contracts whether by specialty or by simple contract henceforth entered into by infants for the repayment of money lent, or to be lent, or for … apprenticeship [see Green v. Thompson, (1899) 2 QB 1], executed contracts of marriage, representative acts as executor or trustee, contracts for necessaries. In an action brought for the price of goods, if the defendant pleads infancy, the
Personal property
an absolute ownership in the subject-matter, i.e., land; the utmost that any one, even an owner in fee simple, can have is an estate. But in the case of personal property the primary rule is precisely 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 absolutely in trustees and declaring that they shall hold it upon trust for
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Uses
performed openly and in the presence of the people of the locality. It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people. Hence ingenuity was … debts by the heir or executor. There appears to have been a distinction between a use and a trust, even before the Statute of Uses. A special trust appears to have arisen where the feoffee to uses
Debt
Act'), special contract debts, as by bonds, covenants, and other instruments under seal, took priority over debts by simple contract; but this Act abolished that distinction as to priority. As to attachment of debts, see that title. … assignment is absolute and in writing, where express written notice of the assignment is given to the debtor, trustee, or other person from whom the assignor would have been entitled to claim such a debt [(English) Law
Chattels or catals
which are capable of subsisting or of being conveyed or created at law are an estate in fee simple absolute in possession and a term of years absolute, and by s. 149 a lease at a rent … now, by s. 130 of the L. P. Act, 1925, an entailed interest maybe created by way of trust in any property real r personal, subject to statutory requirements. See TAIL. Among chattels real five species of
Deposit
lumber, etc., left upon another's land by the subsidence of a flood. The civilians again divide deposits into simple deposits, made by one or more persons having a common interest, and sequestrations, made by one or more … CHARGES; NOTICE; RESCISSION; STAKEHOLDER. Includes deposit of money with a bank company, proprietary concern, partnership firm, corporate body, trust or any other person. [Foreign Exchange Management (Deposit) Regulations, 2000, R. 2 (iv)] Defined, means aggregate of the
Dower
of appointment, to him for life, and on the determina-tion of his estate in his lifetime, to a trustee and his heirs for the life of the purchaser in trust for him, and on the determination of
Limitation of actions and prosecutions
Interest reipublic' ut sit finis litium, particular actions must be brought or proceedings taken. In the case of simple contract the remedy on the contract is barred, leaving the creditor free to enforce his claims by other … the Act of 1874] As a rule a title by possession for the statutory period of land against trustees will be good against all persons claiming as cestui que trustent under their trust (see Williams v. Papworth,
Curtesy of England
the estate tail,or of any prior estate created by the settlement as well as a resulting use or trust to or for the settlor, is to be deemed a prior estate under the settlement within the contemplation
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