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Chattel mortgage
Chattel mortgageWhen an interest is given on moveable property other than real property (in which case it is usually a "mortgage"), in writing, to guarantee the payment of a debt or the execution of some action. It automatically becomes void when the debt is paid or the action is executed. RELATED TERMS-------------------------------------- When 1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent. Interest 1) Estates. The right which a man has in a chattel real, and more particularly in a future term. It is a word of less efficacy and extent than estates, though, in legal understanding, an interest extends to estates, rights and titles which a man has in or out of lands, so that by a grant of his whole interest in land, a reversion as well as the fee simple shall pass. 2) Contracts. The right of property which a man has in a thing, commonly called insurable interest. 3) Evidence. The benefit which a person has in the matter about to be decided and which is in issue between the parties. Property Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property. Real 1) A term which is applied to land in its most enlarged signification. Real security, therefore, means the security of mortgages or other incumbrances affecting lands. 2) In the civil law, real has not the same meaning as it has in the common law. There it signifies what relates to a thing, whether it be movable or immovable, lands or goods; thus, a real injury is one which is done to a thing, as a trespass to property, whether it be real or personal in the common law sense. A real statute is one which relates to a thing, in contradistinction to such as relate to a person. Case 1) Practice. A contested question before a court of justicea suit or action a cause. 2) An agreement in writing, between a plaintiff and defendant, that the facts in dispute between them are as there agreed upon and mentioned Writing The act of forming by the hand letters or characters of a particular kind on paper or other suitable substance, and artfully putting them together so as to co nvey ideas. It differs from printing, which is the formation of words on paper or other proper substance by means of a stamp. Sometimes by writing ii understood printing, and sometimes printing and writing mixed. Guarantee Contracts. He lo whom a guaranty is made. Payment 1) Contracts. That which is given to execute what has been promised; or it is the fulfilment of a promise. Solvere dicimus cum quis fecit, quod facere promisit. But though this is the general acceptation of the word, yet by payment is understood, every way by which the creditor is satisfied or ought to be, and the debtor, liberated for example, an accord and satisfaction will operate as a payment. 2) Pleadings. The name of a plea by which the defendant alleges that he has paid the debt claimed in the declaration; this plea must conclude to the country. Debt Whatever one owes. A sum of money due by certain and express agreement. Execution 1) Contracts. The accomplishment of a thing; as the execution of a bond and warrant of attorney, which is the signing, sealing, and delivery of the same. 2) Criminal law. The putting a convict to death, agreeably to law, in pursuance of his sentence. Action 1) French commercial. Stock in a company, shares in a corporation. 2)Civil law. An action instituted to avoid a sale onaccount of some Vice or defect in the thing sold which readers it either absolutely useless, or its use so inconvenient and, imperfect, that it must be, supposed the buyer would not have purchased it, had he known of the vice. Void Invalid; a void agreement is one for which there is no remedy. SIMILAR TERMS-------------------------------------- Chattel Moveable items of property which are neither land nor permanently attached to land or a building, either directly or vicariously through attachment to real property. A piano is chattel but an apartment building, a tree or a concrete building foundation are not. The opposite of chattel is real property which includes lands or buildings. All property which is not real property is said to be chattel. "Personal property" or "personalty" are other words sometines used to describe the concept of chattel. The word "chattel" came from the feudal era when "cattle" was the most valuable property besides land. PREVIOUS AND NEXT TERMS-------------------------------------- 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. Chartis reddendis English law. An ancient writ, now obsolete, which lays against one who had charters of feoffment entrusted to his keeping, and who refused to deliver them. Chase 1) English law. The liberty of keeping beasts of chase, or royal gaine, on another man's ground as well as on one's own ground, protected even from the owner of the land, with a power of hunting them thereon. 2) Property. The act of acquiring possession of animals ferae naturae by force, cunning or address. The hunter acquires a right to such animals by occupancy, and they become his property. Chaste A person who has never voluntarily had sexual intercourse outside of marriage such as unmarried virgins. Chattel Moveable items of property which are neither land nor permanently attached to land or a building, either directly or vicariously through attachment to real property. A piano is chattel but an apartment building, a tree or a concrete building foundation are not. The opposite of chattel is real property which includes lands or buildings. All property which is not real property is said to be chattel. "Personal property" or "personalty" are other words sometines used to describe the concept of chattel. The word "chattel" came from the feudal era when "cattle" was the most valuable property besides land. Chattel mortgage Cheat French escheat: from fraud used by lords of manors to procure escheats. Cheats which are punishable at common law may be described to be deceitful practices in defrauding or endeavoring to defraud another of his known rights by means of some artful devices, contrary to the plain rules of common honesty. Hawkins, Pl. Cr., b. 1, c. 23, § 1. A cheat or fraud, indictable at common law, must be such as would affect the public, such as common prudence cannot guard against; as, using false weights and measures, or false tokens, or where there is a conspiracy to cheat. Technically, the offence is "false pretenses". spoken of one in relation to his vocation, the word is defamatory and actionable. Check book Commerce. One kept by persons who have accounts in bank, in which are printed blank forms of cheeks, or orders upon the bank to pay money. Check or cheque A form of bill of exchange where the order to pay is given to a bank which is holding the payor's money. Chemistry Medical jurisprudence. The science which teaches the nature and property of all bodies by their analysis and combination. Cheshire and north A leading English text on conflict of law. We thank you for using the Juridical Dictionary to search for Chattel mortgage. If you have a better definition for Chattel mortgage than the one presented here, please let us know by making use of the suggest a term option. This definition of Chattel mortgage may be disputed by other professionals. Our attempt is to provide easy definitions on Chattel mortgage and any other medical topic for the public at large.
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