Juridical Dictionary

This dictionary contains:
8526
juridical terms

Beneficial owner




Beneficial owner

A term usually referring to the registered shipowner, but which may also designate another party having the equitable ownership of the vessel where it is operated under the cloak of a trust.

RELATED TERMS
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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.

Party
Practice, contracts. When applied to practice, by party is understood either the plaintiff or defendant. In contracts, a party is one or more persons who engage to perform or receive the performance of some agreement.

Equitable
That which is in conformity to the natural law.

Ownership
Title to property. The right by which a thing belongs to some one in particular, to the exclusion of all other persons.

Trust
Contracts, devises. An equitable right, title or interest in property, real or personal, distinct from its legal ownership; or it is a personal obligation for paying, delivering or performing anything, where the person trusting has no real. right or security, for by, that act he confides altogether to the faithfulness of those intrusted. This is its most general meaning, and includes deposits, bailments, and the like. In its more technical sense, it may be defined to be an obligation upon a person, arising out of a confidence reposed in him, to apply property faithfully, and according to such confidence.



SIMILAR TERMS
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Benefice
Ecclesiastical law. In its most extended sense, any ecclesiastical preferment or dignity.

Beneficial
Of advantage, profit or interest; as the wife has a beneficial interest in property held by a trustee for her.

Beneficial interest
The right of a party to some profit, distribution, or benefit from a contract or trust. A beneficial interest is distinguished from the rights of someone like a trustee or official who has responsibility to perform and/or title to the assets but does not share in the benefits.

Beneficiaries
Aliens on whose behalf a U.S. citizen, legal permanent resident, or employer have filed a petition for such aliens to receive immigration benefits from the U.S. Citizenship and Immigration Services. Beneficiaries generally receive a lawful status as a result of their relationship to a U.S. citizen, lawful permanent resident, or U.S. employer.

Beneficiary
A broad definition for any person or entity who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution.

Beneficiary heir
Civil law. Beneficiary heirs are those who have accepted the succession under the benefit of an inventory regularly made. If the heir apprehend that the succession-will be burdened with debts beyond its value, he accepts with benefit of inventory, and in that case he is responsible only for the value of the succession.

Beneficio primo ecclesiastico habendo
English Ecclesiastical law. A writ directed from the king to the chancellor, commanding him to bestow the benefice which shall first fall in the king's gift, above or under a certain value, upon a particular and certain person.

Beneficium competentiae
The right which an insolvent debtor had, among the Romans, on making session of his property for the benefit of his creditors, to retain what was required for him to live honestly according to his condition.

Benefit
This word is used in the same sense as gain and profits.

Benefit of cession
Civil law. The release of a debtor from future imprisonment for his debts, which the law operates in his favor upon the surrender of his property for the benefit of his creditors.

Benefit of clergy
English law. An exemption of the punishment of death which the laws impose on the commission of certain crimes, on the culprit demanding it.

Benefit of discussion
Civil law. The right which a surety has to cause the property of the principal debtor to be applied in satisfaction of the obligation in the first instance.

Benefit of division
In the civil law, which, in this respect, has been adopted in Louisiana, although, when there are several sureties, each one is bound for the whole debt, yet when one of them is sued alone, he has a right to have the debt apportioned among all the solvent sureties on the same obligation, so that he shall be compelled to pay his own share only.

Benefit of inventory
Civil law. The benefit of inventory is the privilege which the heir obtains of being liable for the charges and debts of the succession, only to the value of the effects of the succession, in causing an inventory of these effects within the time and manner proscribed by law.

Benevolence
1) Duty. The doing a kind action to another, from mere good will, without any legal obligation. 2) English law. An aid given by the subjects to the king under a pretended gratuity, but in realty it was an extortion and imposition.



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Bench warrant
Criminal law. The name of a process sometimes given to an attachment issued by order of a criminal court, against an individual for some contempt, or for the purpose of arresting a person accused.

Bencher
English law. A bencher is a senior in the inns of court, entrusted with their government and direction.

Benefice
Ecclesiastical law. In its most extended sense, any ecclesiastical preferment or dignity.

Beneficial
Of advantage, profit or interest; as the wife has a beneficial interest in property held by a trustee for her.

Beneficial interest
The right of a party to some profit, distribution, or benefit from a contract or trust. A beneficial interest is distinguished from the rights of someone like a trustee or official who has responsibility to perform and/or title to the assets but does not share in the benefits.

Beneficial owner

Beneficiaries
Aliens on whose behalf a U.S. citizen, legal permanent resident, or employer have filed a petition for such aliens to receive immigration benefits from the U.S. Citizenship and Immigration Services. Beneficiaries generally receive a lawful status as a result of their relationship to a U.S. citizen, lawful permanent resident, or U.S. employer.

Beneficiary
A broad definition for any person or entity who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution.

Beneficiary heir
Civil law. Beneficiary heirs are those who have accepted the succession under the benefit of an inventory regularly made. If the heir apprehend that the succession-will be burdened with debts beyond its value, he accepts with benefit of inventory, and in that case he is responsible only for the value of the succession.

Beneficio primo ecclesiastico habendo
English Ecclesiastical law. A writ directed from the king to the chancellor, commanding him to bestow the benefice which shall first fall in the king's gift, above or under a certain value, upon a particular and certain person.

Beneficium competentiae
The right which an insolvent debtor had, among the Romans, on making session of his property for the benefit of his creditors, to retain what was required for him to live honestly according to his condition.

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This dictionary contains 8526 terms.







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