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Forbearance
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ForbearanceContracts. The act by which a creditor waits for the payment of the debt due him by the debtor, after it has become due.
RELATED TERMS--------------------------------------
Creditor
Creditor or obligee. Contracts. The person in favor of whom some obliga- tion is contracted, whether such obligation be to pay money, or to do, or not to do something.
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.
Debtor
Debtor or obligor. The person who has engaged to perform some obligation. The word obligor, in its more technical signification, is applied to designate one who makes a bond.
Due
What ought to be paid; what may be demanded.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Follow london clause
Is found often in marine insurance contracts. It is a clear indication that a contract is to be governed by English law. It is usually inserted where many persons are sharing in the risk.
Food and drug administration
FDA. A federal agency which sets safety and quality standards for food, drugs, cosmetics, and household substances.
Foot
A measure of length, containing one-third of a yard, or twelve inches. Figuratively, it signifies the conclusion, the end; as, the foot of the fine, the foot of the account.
For cause
An employment arrangement where employees may only be terminated for a proven cause.
For that
Pleading. It is a maxim in law, regulating alike every form of action, that the plaintiff shall state his complaint in positive and direct terms, and not by way of recital. "For that " is a positive allegation; "For that whereas," in Latin "quod cum" is a recital.
Forbearance
Force majeure
A superior force. An event that no human foresight could anticipate or which if anticipated, is too strong to be considered an industrial strike which leads to loss of profits. Circumstances must be abnormal and unforeseeable, so that the consequences could not have been avoided through the exercise of all due care.
Forced heir
Forced heirs are those who cannot be disinherited. This term is used among the civilians.
Forced heirs
In Louisiana they are those persons whom the testator or donor cannot deprive of the porttion of his estate reserved for them by law, except in cases where he has a just cause to disinherit them. As to the portion of the estate they are entitled to. As to the causes for which forced heirs may be deprived of this right.
Foreclosure
The technical meaning of the word is to wipe out a right of redemption on a property. Generally, this is what happens when someone does not pay their mortgage. Even though there has been no payments, the borrower retains a equitable right of redemption if, some day, he or she were able to find the money and try to exercise their right of redemption. To clear the title of this potential, a lender goes to court, demonstrates the default, requests that a date be set where the entire amount becomes payable after which, in the absence of payment, the lender is automatically relieved of the requirement to redeem the property back to the borrower; the debtor's right of redemption is said to be forever barred and foreclosed. This cancels all rights a borrower would have in the property and the property then belongs entirely to the lender, who is then free to possess or sell the property. The word is frequently used to generally refer to the lender's actions of repossessing and selling a property for default in mortgage payments.
Forehand rent
English law. A species of rent which is a premium given by the tenant at the time of taking the lease, as on the renewal of leases by ecclesiastical corporations, which is considered in the nature of an improved rent.
RELATED TERMS--------------------------------------
Creditor
Creditor or obligee. Contracts. The person in favor of whom some obliga- tion is contracted, whether such obligation be to pay money, or to do, or not to do something.
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.
Debtor
Debtor or obligor. The person who has engaged to perform some obligation. The word obligor, in its more technical signification, is applied to designate one who makes a bond.
Due
What ought to be paid; what may be demanded.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Follow london clause
Is found often in marine insurance contracts. It is a clear indication that a contract is to be governed by English law. It is usually inserted where many persons are sharing in the risk.
Food and drug administration
FDA. A federal agency which sets safety and quality standards for food, drugs, cosmetics, and household substances.
Foot
A measure of length, containing one-third of a yard, or twelve inches. Figuratively, it signifies the conclusion, the end; as, the foot of the fine, the foot of the account.
For cause
An employment arrangement where employees may only be terminated for a proven cause.
For that
Pleading. It is a maxim in law, regulating alike every form of action, that the plaintiff shall state his complaint in positive and direct terms, and not by way of recital. "For that " is a positive allegation; "For that whereas," in Latin "quod cum" is a recital.
Forbearance
Force majeure
A superior force. An event that no human foresight could anticipate or which if anticipated, is too strong to be considered an industrial strike which leads to loss of profits. Circumstances must be abnormal and unforeseeable, so that the consequences could not have been avoided through the exercise of all due care.
Forced heir
Forced heirs are those who cannot be disinherited. This term is used among the civilians.
Forced heirs
In Louisiana they are those persons whom the testator or donor cannot deprive of the porttion of his estate reserved for them by law, except in cases where he has a just cause to disinherit them. As to the portion of the estate they are entitled to. As to the causes for which forced heirs may be deprived of this right.
Foreclosure
The technical meaning of the word is to wipe out a right of redemption on a property. Generally, this is what happens when someone does not pay their mortgage. Even though there has been no payments, the borrower retains a equitable right of redemption if, some day, he or she were able to find the money and try to exercise their right of redemption. To clear the title of this potential, a lender goes to court, demonstrates the default, requests that a date be set where the entire amount becomes payable after which, in the absence of payment, the lender is automatically relieved of the requirement to redeem the property back to the borrower; the debtor's right of redemption is said to be forever barred and foreclosed. This cancels all rights a borrower would have in the property and the property then belongs entirely to the lender, who is then free to possess or sell the property. The word is frequently used to generally refer to the lender's actions of repossessing and selling a property for default in mortgage payments.
Forehand rent
English law. A species of rent which is a premium given by the tenant at the time of taking the lease, as on the renewal of leases by ecclesiastical corporations, which is considered in the nature of an improved rent.
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This dictionary contains 8526 terms.
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