Substitutional Gift - Law Dictionary Search Results
Home Dictionary Name: substitutional giftsubstitutional gift
substitutional gift see gift ...
gift
gift 1 : an intentional and gratuitous transfer of real or personal property by a donor with legal capacity who actually or constructively delivers the property to the donee with the intent of giving up dominion over the property and investing it in the donee who accepts it ;broadly : a voluntary transfer of property without compensation see also delivery compare donation, sale class gift : a usually testamentary gift of a sum to a group of unspecified persons whose number and identity and share of the gift will be determined sometime in the future (as at the death of the donor) com·plet·ed gift : a gift in which the dominion and control of the property is placed beyond the donor's reach gift cau·sa mor·tis [-kȯ-zə-mȯr-tis, -ka-sÄ -mȯr-tēs] pl: gifts causa mortis : a gift of esp. personal property made in contemplation of impending death that is delivered with the intent that the gift take effect only in the event of the donor's...
substitute gift
substitute gift : substitutional gift at gift ...
vulgar substitution
vulgar substitution [French substitution vulgaire, from Latin substitutio vulgaris, literally, ordinary substitution, as distinguished from substitutio pupillaris substitution of an heir in place of a minor who actually receives the testamentary gift but dies before reaching the age of majority] in the civil law of Louisiana : a testamentary disposition in which the person making the will names another person to take the gift in the event that the instituted heir does not accept it or is already deceased ...
Or
Or, construed as 'and'. The courts may construe 'or' as 'and' if they find from the context that the wrong word must have been used, Morgan v. Thomas, (1882) 9 QBD 643 (645), per Jessel (MR).Or, in the sentence any 'any person concerned in any such offence shall be liable to a penalty not exceeding three times the value of the goods or not exceeding 1000 rupees.' It is clear that if the words form an affirmative sentence, then the condition of one of the clauses only need be fulfilled. In such a case 'or' really means 'either' 'or'. In the Shorter Oxford Dictionary one of the meanings of the word 'or' is given as 'A participle co-ordinating two (or more) words, phrases or clauses between which there is an alternative.' It is also there stated, 'The alternative expressed by 'or' is emphasised by prefixing to the first member or adding after the last, the associated adv. EITHER.' So, even without 'either', 'or' alone creates an alternative. If, however, the sentence is a negative one, th...
Legacy
Legacy [fr. legatum, Lat.]. A legacy is a gift of personalty by will, and, arising as it does from the mere bounty of the testator, it is postponed to the claims of creditors. There are four kinds of legacies:-(1) General, when it does not amount to a bequest of any particular thing or money, as distinguished from all others of the same kind; as if a testator give A. 50l. or a diamond ring, not referring to any particular diamond ring as distinguished from others. (2) Specific, when it is a bequest of a particular thing, or sum of money, or debt, as distinguished from all others of the same kind, as if a testator give B. 'my diamond ring.' (3) Demonstrative, when it is in its nature a general legacy, but there is a particular fund pointed out to satisfy it, as if a testator bequeath 1,000l. out of his Reduced Bank Three per Cents. And (4) Cumulative, or substitutional, when a testator by the same testamentary instrument, or by different testamentary instruments, has bequeathed more tha...
Perpetuity
Perpetuity, concerns rights of property only, and does not affect the making of contracts, which do not create rights of property, Ram Baran Prasad v. Ram Mohit Hazara, AIR 1967 SC 744: (1967) 1 SCR 293.Is a future limitation, whether executory or by way of remainders, and of either real or personal property which is not to vest until after the expiration of, or will not necessarily vest within the period fixed and prescribed by law for the creation of future estates and interests, Walsh v. Secretary of State for India, (1863) 10 HLC 367.Perpetuity, unlimited duration; exemption from intermission or ceasing, where, though all who have interest should join in a covenant, so that they could not bar or pass the estate. It is odious in law, destructive to the common wealth, and an impediment to commerce, by preventing the wholesome circulation of property.The rule against perpetuities, or the doctrine of remoteness, applies to the corpus of property whether real or personal, and whether li...
Donis conditionalibus, Statute de
Donis conditionalibus, Statute de (13 Edw. 1, c. 1, A.D. 1285), otherwise called Westminster the Second. At the date of this statute a gift to a man and the heirs of his body, provided that if he had no heirs the lands should revert, was construed to give the donee a conditional fee, which enabled him, after issue begotten, to alien the land, and thereby to disinherit the issue and to deprive the donor of his right of reverter. This interpretation is declared by this statute to be 'contrary to the minds of the giver, and the form impressed in the gift': wherefore it is ordained that the 'will of the giver, according to the form in the deed of gift manifestly expressed, be henceforth observed; so that they, to whom the land is given under such condition, shall have no power to alien the land so given, but that it shall remain unto the issue of them to whom it is given after their death, or shall revert to the giver or his heirs if issue fail, or there is no issue at all . . . And if a f...
Undue influence
Undue influence, Any influence, pressure, or domination in such circumstances that the person acting under that influence may be held not to have exercised his free and independent volition in regard to the act.As to gifts, see title SPIRITUALISM and Lyon v. Home, (1868) LR 6 Eq 655, and as to wills, see Parfitt v. Lawless, (1872) LR 2 P&M 462.In the case of benefits or advantages obtained in certain relationships, the existence of this influence is presumed, e.g., guardian and ward, a parent over a child upon or soon after attaining age and the possession of property, a guide or instructor, medical advisers, ministers or professors of religion, managers of business [Coomber v. Coomber, (1911) 1 Ch 174], attendants upon or advisers of aged and infirm people. In such cases, in regard to transactions inter vivos, the onus of proving absence of undue influence lies on the person claiming the benefit of the disposition or act, and in some cases, e.g., gifts by clients to their solicitors (...
fidei commissum
fidei commissum pl: fidei com·mis·sa [-sə, -sÄ ] [Latin fidei commissum, from neuter past participle of fideicommittere to bequeath (a thing) with the request that it be delivered to a third person, from fidei, dative of fides trust + committere to place in the hands of, entrust] in the civil law of Louisiana : a gift (as by will) of property in which a person is invested with title and which the person is directed to convey to another person or to make a particular disposition of compare substitution NOTE: Fidei commissa are prohibited by the Louisiana Civil Code. ...
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