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| This dictionary contains: 8526 juridical terms |
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Floating charge
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Floating chargeA mortgage, debenture or other security documentation, is likely to create charges over particular assets as security for borrowings or other indebtedness. There are essentially two types of charge, floating and fixed. A floating charge is appropriate to assets and material which is subject to change on a day to day basis, such as stock. Individual items move into and out of the charge as they are bought and sold in the ordinary course of events. The floating charge crystallises if there is a default or similar event. At that stage the floating charge is converted to a fixed charge over the assets which it covers at that time. A floating charge is not as effective as a fixed charge but is more flexible.
RELATED TERMS--------------------------------------
Mortgage
A legal instrument that creates a lien upon real estate securing the payment of a specific debt.
Debenture
A certificate given, in pursuance of law, by the collector of a port of entry, for a certain sum, due by the United States, payable at a time therein mentioned, to an importer for drawhack of duties on merchandise imported and exported by him, provided the duties arising on the importation of the said merchandise shall have been discharged prior to the time aforesaid.
Security
That which renders a matter sure; an instrument which renders certain the performance of a contract. The term is also sometimes applied to designate a person who becomes the surety for another, or who engages himself for the performance of another's contract.
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.
Assets
Cash, property and investments along with anything else that may be of value to a individual or business.
Indebtedness
The state, of being in debt, without regard to the ability or inability of the party to pay the same.
Charge
1) Wills, devises. An obligation which a testator imposes on his devisee. 2) Contracts. An obligation entered into by the owner of an estate which makes the estate responsible for its performance. 3) Practice. The opinion expressed by the court to the jury, on the law arising out of a case before them.
Subject
1) Contracts. The thing which is the object of an agreement. This term is used in the laws of Scotland. 2) Persons, government. An individual member of a nation, who is subject to the laws; this term is used in contradistiction to citizen, which is applied to the same individual when considering his political rights.
Change
The exchange of money for money.
Stock
1) Merchant law. The capital of a merchant tradesman, or other person including his merchandise, money and credits. In a narrower sense it signifies only the goods and wares he has for sale and traffic. The capital of corporations is also called stock; this is usually divided into shares of a definite value, as one hundred dollars, fifty dollars per share. 2) Descents. This is a metaphorical expression which designates, in the genealogy of a family, the person from whom others are descended: those persons who have so descended are called branches.
Ordinary
Civil and Ecclesiastical law. An officer who has original jurisdiction in his own right and not by deputation.
Course
The direction in which a line runs in surveying.
Default
"1) The neglect to perform a legal obligation or duty; but in technical language by default is often understood the non-appearance of the defendant within the time prescribed by law, to defend himself; it also signifies the non-appearance of the plaintiff to prosecute his claim. 2) Contracts, torts. It is enacted that ""no action shall be brought to charge the defendant upon any special promise to answer for the debt, default, or miscarriage of another person, unless the agreement"", ""shall be in writing,"" By default under this statute is understood the non-performance of duty, though the same be not founded on a contract.
Time
Contracts, evidence, practice. The measure of duration., It is divided into years, months. days, hours, minutes, and seconds. It is also divided into day and night. 2) Pleading. The avertment of time is generally necessary in pleading; the rules are different, in different actions.
SIMILAR TERMS--------------------------------------
Floating law clause
A clause in a contract which permits one party to the contract to choose the applicable law, after a predetermined event has occurred. Such clauses have been criticized for lending themselves to evasion of the law.
PREVIOUS AND NEXT TERMS--------------------------------------
Flagrante crimine or delicto
While the offense is being perpetrated: in the very act.
Flagrante delicto
The act of committing a crime; when a person is arrested flagrante delicto, the only evidence required to convict him, is to prove that fact.
Fleet
Punishment. English law. Saxon fleot. A place of running water, where the tide or float comes up. A prison in London, so called from a river or ditch which was formerly there, on the side of which it stood.
Fleta
The title of an ancient law book, supposed to have been written by a judge who was confined in the Fleet prison. It is written in Latin, and is divided into six books.
Flight
Criminal law. The evading the course of justice, by a man's voluntarily withdrawing himself.
Floating charge
Floating law clause
A clause in a contract which permits one party to the contract to choose the applicable law, after a predetermined event has occurred. Such clauses have been criticized for lending themselves to evasion of the law.
Floodgates
It was feared by Cardozo, C.J. that to grant damages for economic loss (supra) would open the floodgates to "liability in an indeterminate amount for an indeterminate time, to an indeterminate class".
Florin
The name of a foreign coin. In all computations of customs, the florin of the southern states of Germany, shall be estimated at forty cents; the florin of the Austrian empire, and of the city of Augshurg, at forty-eight and one-half cents.
Flotilla principle
The principle whereby the tonnage of both the tug and the tow were taken into consideration in calculating the shipowner's limitation of liability arising out of collisions between the tow and another vessel or a stationary object. The principle originally applied in England where the tug and tow belonged to the same shipowner, and even if the fault or negligence which caused the collision was committed only aboard the tug. Today, however, the combined tonnage of tug and tow are taken into consideration in calculating the shipowner's limitation in England, whether or not those vessels are commonly owned, but only if the fault or negligence that caused the collision was committed aboard both those vessels.
Flotsam
Flotsam or flotsan. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
RELATED TERMS--------------------------------------
Mortgage
A legal instrument that creates a lien upon real estate securing the payment of a specific debt.
Debenture
A certificate given, in pursuance of law, by the collector of a port of entry, for a certain sum, due by the United States, payable at a time therein mentioned, to an importer for drawhack of duties on merchandise imported and exported by him, provided the duties arising on the importation of the said merchandise shall have been discharged prior to the time aforesaid.
Security
That which renders a matter sure; an instrument which renders certain the performance of a contract. The term is also sometimes applied to designate a person who becomes the surety for another, or who engages himself for the performance of another's contract.
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.
Assets
Cash, property and investments along with anything else that may be of value to a individual or business.
Indebtedness
The state, of being in debt, without regard to the ability or inability of the party to pay the same.
Charge
1) Wills, devises. An obligation which a testator imposes on his devisee. 2) Contracts. An obligation entered into by the owner of an estate which makes the estate responsible for its performance. 3) Practice. The opinion expressed by the court to the jury, on the law arising out of a case before them.
Subject
1) Contracts. The thing which is the object of an agreement. This term is used in the laws of Scotland. 2) Persons, government. An individual member of a nation, who is subject to the laws; this term is used in contradistiction to citizen, which is applied to the same individual when considering his political rights.
Change
The exchange of money for money.
Stock
1) Merchant law. The capital of a merchant tradesman, or other person including his merchandise, money and credits. In a narrower sense it signifies only the goods and wares he has for sale and traffic. The capital of corporations is also called stock; this is usually divided into shares of a definite value, as one hundred dollars, fifty dollars per share. 2) Descents. This is a metaphorical expression which designates, in the genealogy of a family, the person from whom others are descended: those persons who have so descended are called branches.
Ordinary
Civil and Ecclesiastical law. An officer who has original jurisdiction in his own right and not by deputation.
Course
The direction in which a line runs in surveying.
Default
"1) The neglect to perform a legal obligation or duty; but in technical language by default is often understood the non-appearance of the defendant within the time prescribed by law, to defend himself; it also signifies the non-appearance of the plaintiff to prosecute his claim. 2) Contracts, torts. It is enacted that ""no action shall be brought to charge the defendant upon any special promise to answer for the debt, default, or miscarriage of another person, unless the agreement"", ""shall be in writing,"" By default under this statute is understood the non-performance of duty, though the same be not founded on a contract.
Time
Contracts, evidence, practice. The measure of duration., It is divided into years, months. days, hours, minutes, and seconds. It is also divided into day and night. 2) Pleading. The avertment of time is generally necessary in pleading; the rules are different, in different actions.
SIMILAR TERMS--------------------------------------
Floating law clause
A clause in a contract which permits one party to the contract to choose the applicable law, after a predetermined event has occurred. Such clauses have been criticized for lending themselves to evasion of the law.
PREVIOUS AND NEXT TERMS--------------------------------------
Flagrante crimine or delicto
While the offense is being perpetrated: in the very act.
Flagrante delicto
The act of committing a crime; when a person is arrested flagrante delicto, the only evidence required to convict him, is to prove that fact.
Fleet
Punishment. English law. Saxon fleot. A place of running water, where the tide or float comes up. A prison in London, so called from a river or ditch which was formerly there, on the side of which it stood.
Fleta
The title of an ancient law book, supposed to have been written by a judge who was confined in the Fleet prison. It is written in Latin, and is divided into six books.
Flight
Criminal law. The evading the course of justice, by a man's voluntarily withdrawing himself.
Floating charge
Floating law clause
A clause in a contract which permits one party to the contract to choose the applicable law, after a predetermined event has occurred. Such clauses have been criticized for lending themselves to evasion of the law.
Floodgates
It was feared by Cardozo, C.J. that to grant damages for economic loss (supra) would open the floodgates to "liability in an indeterminate amount for an indeterminate time, to an indeterminate class".
Florin
The name of a foreign coin. In all computations of customs, the florin of the southern states of Germany, shall be estimated at forty cents; the florin of the Austrian empire, and of the city of Augshurg, at forty-eight and one-half cents.
Flotilla principle
The principle whereby the tonnage of both the tug and the tow were taken into consideration in calculating the shipowner's limitation of liability arising out of collisions between the tow and another vessel or a stationary object. The principle originally applied in England where the tug and tow belonged to the same shipowner, and even if the fault or negligence which caused the collision was committed only aboard the tug. Today, however, the combined tonnage of tug and tow are taken into consideration in calculating the shipowner's limitation in England, whether or not those vessels are commonly owned, but only if the fault or negligence that caused the collision was committed aboard both those vessels.
Flotsam
Flotsam or flotsan. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
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This dictionary contains 8526 terms.
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