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Ad valorem
Ad valoremAccording to the value. This Latin term is used in commerce inreference to certain duties, called ad valorem duties, which are levied on commodities at certain rates per centum on their value. RELATED TERMS-------------------------------------- Value Common law. This term has two different meanings. It sometimes expresses the utility of an object, and some times the power of purchasing other good with it. The first may be called value in use, the latter value in exchange. Term 1) Construction. Word; expression speech. 2) Contracts. This word is used in the civil, law to denote the space of time granted to the debtor for discharging his obligation; there are express terms resulting from the positive stipulations of the agreement; as, where one undertakes to pay a certain sum on a certain day and also terms which tacitly result from the nature of the things which are the object of the engagement, or from the place where the act is agreed to be done. For instance, if a builder engage to construct a house for me, I must allow a reasonable time for fulfilling his engagement. 3) Estates. The limitation of an estate, as a term for years, for life, and the like. The word term does not merely signify the time specified in the lease, but the estate also and interest that passes by that lease; and therefore the term may expire during the continuance of the time, as by surrender, forfeiture and the like. 4) Practice. The space of time during which a court holds a session; sometimes the term is a monthly, at others it is a quarterly period, according to the constitution of the court. Commerce Latin commercium. In its simplest signification, an exchange of goods; but in the advancement of society, labor, transportation, itelligence, care and various mediums of exchange, become commodities and enter into commerce. Gibbens v. Ogden, 9 Wheat. 1, 229 (1824), Marshall, Chief Justice. The interchange or mutual change of goods, productions, or property of any kind, between nations or individuals. Duties In its most enlarged sense, this word is nearly equivalent to taxes, embracing all impositions or charges levied on persons or things; in its more restrained sense, it is often used as equivalent to customs or imposts. SIMILAR TERMS-------------------------------------- Ad vitam aut culpam An office to be so held as to determine only by thedeath or delinquency of the possessor; in other words it is held quam diu sebenegesserit. PREVIOUS AND NEXT TERMS-------------------------------------- Ad quem A Latin expression which signifies to which, in the computation of time or distance, as the day ad quem. Ad quod damnum To what damage. A writ, at common law, by which the sheriff was to inquire by a jury what damage it would be to the sovereign, or to a subject, to grant a fair, market, highway, or other like franchise. Ad sectam At the suit of, commonly abbreviated ads. It is usual in filingpleas, and other papers, for a defendant, instead of putting the name of the plaintiff first. Ad terminum qui preteriit The name of a writ of entry which lay for thelessor or his heirs, when a lease had been made of lands or tenements, forterm of life or years, and, after the term had expired, the lands were with held from the lessor by the tenant, or other person possessing the same. Ad tunc et ibidem That part of an indictment, where it is stated that theobject-matter of the crime or offence" then and there being found," is technically so called. Ad valorem Ad vitam aut culpam An office to be so held as to determine only by thedeath or delinquency of the possessor; in other words it is held quam diu sebenegesserit. Addendum An attachment to a written document. For example, affidavits may be addendums to a petition as a petition may be an addendum to a writ. Additional legacy An additional legacy is one which is given by a codicil, besides one before given by the will; or it is an increase by a codicil of a legacy before given by the will. An additional legacy is generally subject to the same qualities and conditions as the original legacy. Additionales Contracts. Additional terms or propositions to be added to a former agreement. Additur An increase by a judge in the amount of damages awarded by a jury. We thank you for using the Juridical Dictionary to search for Ad valorem. If you have a better definition for Ad valorem than the one presented here, please let us know by making use of the suggest a term option. This definition of Ad valorem may be disputed by other professionals. Our attempt is to provide easy definitions on Ad valorem and any other medical topic for the public at large.
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