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Fiducia
FiduciaCivil 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. RELATED TERMS-------------------------------------- Civil 1) It is used in contradistinction to barbarous or savage, to indicate a state of society reduced to order and regular government; thus we speak of civil life, civil society, civil government, and civil liberty. 2) It is sometimes used in contradistinction to criminal, to indicate the private rights and remedies of men, as members of the community, in contrast to those which are public and relate to the government; thus we speak of civil process and criminal process, civil jurisdiction and criminal jurisdiction. Law A rule or body of rules of conduct inherent in human nature and essential to or binding upon human society. The learned profession that is mastered by graduate study in a law school and that is responsible for the judicial system. Contract A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract. 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. Emancipation Term used to describe the act of freeing a person who was under the legal authority of another (such as a child before the age of majority) from that control (such as child reaching the age of majority). The term was also used when slavery was legal to describe a former slave that had bought or been given freedom from his or her master. When Abraham Lincoln outlawed slavery he did so in a law called the "emancipation proclamation". Condition Persons. The situation in civil society which creates certain relations between the individual, to whom it is applied, and one or more others, from which mutual rights and obligations arise. Will A will is a legal document in which a person directs how his property is to be distributed after his death. Such documents must be executed in due form and must be duly witnessed. Place Pleading, evidence. A particular portion of space; locality. Pledges Pleading. It was anciently necessary to find pledges or sureties to prosecute a suit, and the names of the pledges were added at the foot of the declaration; but in the course of time it became unnecessary to find such pledges because the plaintiff was no longer liable to be amerced, pro falsa clamora, and the pledges were merely nominal persons, and now John Doe and Richard Roe are the universal pledges; but they may be omitted altogether; SIMILAR TERMS-------------------------------------- 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. PREVIOUS AND NEXT TERMS-------------------------------------- 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 Latin. Trust, confidence, reliance; credence, belief, faith. 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 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. Field A part of a farra separately enclosed; a close. The Digest defines a field to be a piece of land without a house; ager est locus, que sine villa est. Fieri Latin. To be done; to be made. Compare Facere. 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