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Cesser clause
Cesser clauseA clause in a charterparty which releases the charterer from his personal liability to the shipowner and substitutes the bill of lading (supra) holder as the debtor. The substituted bill of lading holder thus becomes personally liable for the charges and the shipowner waives his rights against the charterer. RELATED TERMS-------------------------------------- Clause Contracts. A particular disposition which makes part of a treaty; of an act of the legislature; of a deed, written agreement, or other written contract or will. Charterparty A charterparty is a contract of lease of a ship in whole or in part for a long or short period of time or for a particular voyage. It has been said that its origin lies in the mediaeval Latin "carta partita" or "charta partita" or "charta divisa", where an agreement was torn into two pieces and one half was given to each party. Personal Belonging to the person. Liability A person or organization's extent of responsibility for a loss. An item of value that is part of the overall debt or obligation of a person or business. Substitutes Scotch law. Where an estate is settled on a long series of heirs, substituted one after another, in tailzie, the person first called in the tailzies, is the institute; the rest, the beirs of tailzie; or the substitutes. Bill 1) Legislation. An instrument drawn or presented by a member or committee to a legislative body for its approbation and enactment. After it has gone through both houses and received the constitutional sanction of the chief magistrate, where such approbation is requisite, it becomes a law. 2) Merchant law. An account containing the items of goods sold, or of work done by one person against another. 3) Contracts. A bill or obligation, is a deed whereby the obligor acknowledges himself to owe unto the obligee a certain sum of money or some other thing, in which, besides the names of the parties, are to be considered the sum or thing due, the time, place, and manner of payment or delivery thereof. It may be indented, or poll, and with or without a penalty. Holder The holder of a bill of exchange is the person who is legally in the possession of it, either by endorsement or delivery, or both, and entitled to receive payment either from the drawee or acceptor, and is considered as an assignee. 4 Dall. 53. And one who endorses a promissory note for collection, as an agent, will be considered the holder for the purpose of transmitting notices. Debtor Debtor or obligor. The person who has engaged to perform some obligation. The word obligor, in its more technical signification, is applied to designate one who makes a bond. Liable Legally responsible. Charges The term charges signifies the expenses which have been incurred in relation either to a transaction or to a suit; as the charges incurred for his benefit must be paid by a hirer; the defendant must pay the charges of a suit. SIMILAR TERMS-------------------------------------- Cessante ratione legis, cessat ipsa lex A Latin maxim, meaning "When the reason for the law ends, the law itself lapses". Cessavit English law. An obsolete writ, which could formerly have been sued out when the defendant had for two years ceased or neglected to perform such service or to pay such rent as he was bound to do by his tenure, and had not upon his lands sufficient goods or cbattels to be distrained. Cesset executio The staying of an execution. Cesset processus Practice. An entry made on the record that there be a stay of the procas or proceedings. Cessio bonorum Civil law. The relinquishment which a debtor made of his property for the benefit of his creditors Cession 1) Civil law. The act by which a party assigns or transfers property to a other; an assignment. 2) contracts. Yielding up; release. 3) Ecclesiastical law. When an ecclesiastic is created bishop, or when a parson takes another benefice, without dispensation, the first benefice becomes void by a legal cession, or surrender. PREVIOUS AND NEXT TERMS-------------------------------------- Certification or certificate of assise A term used in the old English law, applicable to a writ granted for the reexamination or re-trial of a matter passed by assise before justices. Certified copy A copy of the document contained in the court file. it includes a stamped seal confirming that the copy is indeed a true and correct copy of the document contained in the court file. Certiorari (United Kingdom) A writ from a High Court to a lower Court. Cessante ratione legis, cessat ipsa lex A Latin maxim, meaning "When the reason for the law ends, the law itself lapses". Cessavit English law. An obsolete writ, which could formerly have been sued out when the defendant had for two years ceased or neglected to perform such service or to pay such rent as he was bound to do by his tenure, and had not upon his lands sufficient goods or cbattels to be distrained. Cesser clause Cesset executio The staying of an execution. Cesset processus Practice. An entry made on the record that there be a stay of the procas or proceedings. Cessio bonorum Civil law. The relinquishment which a debtor made of his property for the benefit of his creditors Cession 1) Civil law. The act by which a party assigns or transfers property to a other; an assignment. 2) contracts. Yielding up; release. 3) Ecclesiastical law. When an ecclesiastic is created bishop, or when a parson takes another benefice, without dispensation, the first benefice becomes void by a legal cession, or surrender. Cestui He. This word is frequently used in composition as, cestui que trust, cestui que vie. 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