Tack - Law Dictionary Search Results
Home Dictionary Name: tack Page: 2Farm or ferm
Farm or ferm [fr. firma, Lat.; feorme, Sax., food, and feorman, to feed], land taken upon lease under a rent, generally annual, payable by the tenant. It is a collective word, consisting of many things, as a messuage, land, meadow, pasture, wood, common, etc. In Lancashire a farm was called fermholt; in the north, a tack; and in Essex, a wike, Termes de la Ley....
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 '...
Laveer
To beat against the wind to tack...
lateen sail
A triangular sail extended by a long yard which is slung at about one fourth of its length from the lower end to a low mast this end being brought down at the tack while the other end is elevated at an angle or about forty five degrees used in small boats feluccas xebecs etc especially in the Mediterranean and adjacent waters Some lateen sails have also a boom on the lower side...
Boxhauling
A method of going from one tack to another See Boxhaul...
Boxhaul
To put a vessel on the other tack by veering her short round on her heel so called from the circumstance of bracing the head yards abox i e sharp aback on the wind...
Agistment
Agistment [fr. jacere,:at.; gesir, Fr., to lie, whence giste, a lodging], the taking in of other men's cattle into pasture-land, at a certain rate per week, without letting them the land for their exclusive use as tenants; so called because the cattle are suffered agiser, i.e., to be levant et couchant there. Also the profit of such feeding. As to the extent to which the 'agister' is liable for negligence in the keeping of the cattle, see Halestrap v. Gregory, (1895) 1 QB 561. A restriction upon the power of distraining agisted cattle (in some parts of the country called 'tacks') for rent is imposed by s. 35 of the Agricultural Holdings Act, 1923. See also Manwood's Forest Laws, cc. 11-80, where to 'agist' is to take in and feed strangers' cattle in the Royal Forest and to collect the money due for it. Agistment does not include a right of lien, Chapman v. Allen, 1631 Cro Car 271.Agistment of sea banks [terr' agitat', Lat.] is where lands are charged with a tribute to keep out the sea....
Notice
Notice, the making something known to a person of which he was or might be ignorant. Notice is either (1) statutory; (2) actual, which brings the knowledge of a fact directly home to the party; or (3) constructive or implied, which is no more than evidence of facts which raise such a strong presumption of notice that equity will not allow the presumption to be rebutted. [S. 154, I.P.C. and Art. 61(2)(a) const. 56 Indian Evidence Act]Constructive notice may be subdivided into: (a) where the facts of which actual evidence is supplied give rise to a further enquiry which a man exercising ordinary caution would make equity has added constructive notice of the facts, which that inquiry would have elicited; and (b) where there has been a designed abstinence from inquiry for the very purpose of avoiding notice. See CONSTRUCTIVE NOTICE.A purchaser with notice may protect himself by purchasing the title of another bona fide purchaser for a valuable consideration without notice; for, otherwise, ...
Occupier and owner
Occupier and owner, s. 4, Easement Act shows, that not merely the 'owner' but even an 'occupier' may acquire an 'easement' and there is no prima facie reason why the enjoyment he had as an 'occupier' should not be tacked on to his enjoyment as 'owner' if there should be no interruption in his user, Chinnasami Goundan v. A.S. Balasundara Mudaliar, AIR 1934 Mad 575....
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...
- << Prev.
- Next >>