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| This dictionary contains: 8526 juridical terms |
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Flotilla principle
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Flotilla principleThe 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.
RELATED TERMS--------------------------------------
Tonnage
Maritime law. The capacity of a ship or vessel.
Were
The name of a fine among the Saxons imposed upon a murderer
Consideration
Under common law, there can be no binding contract without consideration, which was defined in an 1875 English decision as "some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other". Common law did not want to allow gratuitous offers, those made without anything offered in exchange (such as gifts), to be given the protection of contract law. So they added the criteria of consideration. Consideration is not required in contracts made in civil law systems and many common law states have adopted laws which remove consideration as a prerequisite of a valid contract.
Limitation
Estates. When an estate is so expressly confined and limited by the words of its creation, that it cannot endure for a longer time than till the contingency shall happen, upon which the estate is to fail, this is denom-inated a limitation; as, when land is granted to a man while he continues unmarried, or until the rents and profits shall have made a certain sum, and the like; in these cases the estate is limited, that is, it does not go beyond the happening of the contingency.
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.
Fault
Contracts, Civil law. An improper act or omission, which arises from ignorance, carelessness, or negligence. The act or omission must not have been meditated, and must have caused some injury to another.
Negligence
Contracts, torts. When considered in relation, to contracts, negligence may be divided into various degrees, namely, ordinary, less than ordinary, more than ordinary.
SIMILAR TERMS--------------------------------------
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.
Flotsan
Flotsan or flotsam. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
PREVIOUS AND NEXT TERMS--------------------------------------
Flight
Criminal law. The evading the course of justice, by a man's voluntarily withdrawing himself.
Floating charge
A 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.
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
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.
Flotsan
Flotsan or flotsam. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
Flumen
Civil law. The name of a servitude which consists in the right of turning the rain water, gathered in a spout, on another's land.
Foedus
A league; a compact.
Foenus nauticus
1)The name given to marine interest. 2)The amount of such interest is not limited by law, because the lender runs the risk of losing, his principal.
RELATED TERMS--------------------------------------
Tonnage
Maritime law. The capacity of a ship or vessel.
Were
The name of a fine among the Saxons imposed upon a murderer
Consideration
Under common law, there can be no binding contract without consideration, which was defined in an 1875 English decision as "some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other". Common law did not want to allow gratuitous offers, those made without anything offered in exchange (such as gifts), to be given the protection of contract law. So they added the criteria of consideration. Consideration is not required in contracts made in civil law systems and many common law states have adopted laws which remove consideration as a prerequisite of a valid contract.
Limitation
Estates. When an estate is so expressly confined and limited by the words of its creation, that it cannot endure for a longer time than till the contingency shall happen, upon which the estate is to fail, this is denom-inated a limitation; as, when land is granted to a man while he continues unmarried, or until the rents and profits shall have made a certain sum, and the like; in these cases the estate is limited, that is, it does not go beyond the happening of the contingency.
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.
Fault
Contracts, Civil law. An improper act or omission, which arises from ignorance, carelessness, or negligence. The act or omission must not have been meditated, and must have caused some injury to another.
Negligence
Contracts, torts. When considered in relation, to contracts, negligence may be divided into various degrees, namely, ordinary, less than ordinary, more than ordinary.
SIMILAR TERMS--------------------------------------
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.
Flotsan
Flotsan or flotsam. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
PREVIOUS AND NEXT TERMS--------------------------------------
Flight
Criminal law. The evading the course of justice, by a man's voluntarily withdrawing himself.
Floating charge
A 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.
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
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.
Flotsan
Flotsan or flotsam. A name for the goods which float upon the sea when a ship is sunk, in distinction from Jetsam and Legan.
Flumen
Civil law. The name of a servitude which consists in the right of turning the rain water, gathered in a spout, on another's land.
Foedus
A league; a compact.
Foenus nauticus
1)The name given to marine interest. 2)The amount of such interest is not limited by law, because the lender runs the risk of losing, his principal.
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This dictionary contains 8526 terms.
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