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Fides
FidesLatin. Trust, confidence, reliance; credence, belief, faith. RELATED TERMS-------------------------------------- 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. Belief Conviction of mind, founded on evidence, that a fact exists - that an act was done, that a statement is true. Faith Probity; good faith is the very soul of contracts. Faith also signifies confidence, belief; as, full faith and credit ought to be given to the acts of a magistrate while acting within his jurisdiction. SIMILAR TERMS-------------------------------------- Fide-jussio Civil law. The contract of suretyship. Fide-jussor Civil law. One who becomes security for the debt of another, promising to pay it in case the principal does not do so. Fidei-commissary Civil law. One who has a beneficial interest in an estate, which, for a time, is committed to the faith or trust of another. This term has nearly, the same meaning as cestui que trust has in our law. Fidei-commissum Civil law. A gift which a man makes to another, through the agency of a third person, who is requested to perform the desire of the giver. For example, when a testator writes, "I institute for my heir, Lucius Titius," he may add, "I pray my heir, Lucius Titius, to deliver, as soon as he shall be able, my succession to Caius Seius: cum igitur aliquis scripserit Lucius Tilius heres esto; potest ajicere, rogo te Luci Titi, ut cum poteris hereditatem meam adire, eam Caio Sceio reddas, restituas. Fides servanda Faith must be kept; the good faith of a transaction will be given effect. A maxim with regard to sales of personalty. If there is no express warranty, general rules of implication should be adopted with this maxim in view. A warranty will be implied only when good faith requires it. PREVIOUS AND NEXT TERMS-------------------------------------- Fictitious sales A scheme to record sales to fictitious customers or fictitious sales to existing customers at the end of one period and reversing the transactions at the beginning of the next period. The purpose of the scheme is to inflate sales to create false profit statements or earn unwarranted bonuses. Excessive credit memos or sales cancellations at the beginning of an accounting period can be an indicator of this fraud. Fidei-commissary Civil law. One who has a beneficial interest in an estate, which, for a time, is committed to the faith or trust of another. This term has nearly, the same meaning as cestui que trust has in our law. Fidei-commissum Civil law. A gift which a man makes to another, through the agency of a third person, who is requested to perform the desire of the giver. For example, when a testator writes, "I institute for my heir, Lucius Titius," he may add, "I pray my heir, Lucius Titius, to deliver, as soon as he shall be able, my succession to Caius Seius: cum igitur aliquis scripserit Lucius Tilius heres esto; potest ajicere, rogo te Luci Titi, ut cum poteris hereditatem meam adire, eam Caio Sceio reddas, restituas. Fide-jussio Civil law. The contract of suretyship. Fide-jussor Civil law. One who becomes security for the debt of another, promising to pay it in case the principal does not do so. Fides Fides servanda Faith must be kept; the good faith of a transaction will be given effect. A maxim with regard to sales of personalty. If there is no express warranty, general rules of implication should be adopted with this maxim in view. A warranty will be implied only when good faith requires it. Fiducia Civil law. A contract by which we sell a thing to some one, that is, transmit to him the property of the thing, with the solemn forms of emancipation, on condition that he will sell it back to us. This species of contract took place in the emancipation of children, in testaments, and in pledges. Fiduciary This term is borrowed from the civil law. The Roman laws called a fiduciary heir, the person who was instituted heir, and who was charged to deliver the succession to a person designated by the testament. Fiduciary duty The acts necessary (usually of an authorized employee or agent) to carry out a responsibility to care for assets prudently. Fief Fief or Feud. In its origin, a fief was a district of country allotted to one of the chiefs who invaded the Roman empire, as a stipend or reward; with a condition annexed that the possessor should do service faithfully both at home and in the wars, to him by whom it was given. The law of fiefs supposed that originally all lands belonged to lords, who had had the generosity to abandon them to others, from whom the actual possessors derive their rights upon the sole reservation of certain services more or less onerous as a sign of superiority. To this superiority was added that which gives the right of dispensing justice, a right which was originally attached to all fiefs, and conferred upon those who possessed it, the most eminent part of public power. We thank you for using the Juridical Dictionary to search for Fides. 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