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Fundamental
FundamentalThis word is applied to those laws which are the foundation of society. Those laws by which the exercise of power is restrained and regulated, are fundamental. The Constitution of the United States is the fundamental law of the land. RELATED TERMS-------------------------------------- Word Construction. One or more syllables which when united convey an idea a single part of speech. Foundation This word, in the English law, is taken in two senses, fundatio incipiens, and fundatio perficiens. As to its political capacity, an act of incorporation is metaphorically called its foundation but as to its dotation, the first gift of revenues is called the foundation. Society A society is a number of persons united together by mutual consent, in order to deliberate, determine, and act jointly for some common purpose. Power This is either inherent or derivative. The former is the right, ability, or faculty of doing something, without receiving that right, ability, or faculty from another. The people have the power to establish a form of govemment, or to change one already established. A father has the legal power to chastise his son; a master, his apprentice. Fundamental This word is applied to those laws which are the foundation of society. Those laws by which the exercise of power is restrained and regulated, are fundamental. The Constitution of the United States is the fundamental law of the land. Constitution 1) Contracts. The constitution of a contract, is the making of the contract as, the written constitution of a debt. 2) Government. The fundamental law of the state, containing the principles upon which the government is founded, and regulating the divisions of the sovereign powers, directing to what persons each of these powers is to be confided, and the, manner it is to be exercised as, the Constitution of the United States. States By this name are understood in some countries, the assembly of the different orders of the people to regulate the affairs of the commonwealth, as, the states general. SIMILAR TERMS-------------------------------------- Fundamental breach A common law principle first developed in English decisions in the 1930's, which became very popular in the U.K. and British Commonwealth jurisdictions in the 1960's, prior to the enactment of consumer protection legislation. By virtue of this doctrine, a party who had committed an intentional breach of contract so serious as to "go to the root of the contract", depriving the other contracting party of substantially the whole benefit of the contract, was held to have fundamentally breached the contract and was consequently deprived of the protection of limitation and exception clauses in the contract. Funded debt That part of the national debt for which certain funds are appropriated towards the payment of the interest. Funding system English law. The name given to a plan which provides that on the creation of a public loan, funds shall immediately be formed, and secured by law, for the payment of the interest, until the state shall redeem the whole, and also for the gradual redemption of the capital itself. This gradual redemption of the capital is called the sinking of the debt, and the fund so appropriated is called the sinking fund. Funds Cash on hands; as, A B is in funds to pay my bill on him; stocks, as, A B has $1000 in the funds. By public funds is understood, the taxes, customs, &c . appropriated by the, government for the discharge of its obligations. Fundus Civil law. Any portion of land whatever, without considering the use or employ to which it is applied. PREVIOUS AND NEXT TERMS-------------------------------------- Fully paid In relation to a company, when a share is issued, the person applying for it must pay to the company, in cash or equivalent value, the amount of its nominal value together with any premium required by the company. Shares are fully paid when the whole amount has been received by the company. Shares may also be issued on the basis that only part of their price is to be paid at the outset with the remainder being required when called for by the company. Function Office. Properly, the occupation of an office; by the performance of its duties, the officer is said to fill his function. Functional interest analysis Arthur Taylor von Mehren (supra) and Donald T. Trautman introduced a method of weighing governmental interest, unlike the lex fori rule advocated in Currie's governmental interest analysis. Von Mehren and Trautman called their approach "functional interest analysis", and listed the criteria to be considered when weighing one government's interest against the other. The law to apply using functional analysis would be the law of the jurisdiction with the greatest weight. Multijurisdictional rules were advocated where weighing did not provide a solution. Functionary One who is in office or in some public employment. Functus officio This term is applied to something which once had life and power, but which now has no virtue whatsoever; as, for example, a warrant of attorney on which a judgment has been entered, is, functus officio, and a second judgment, cannot be entered by virtue of its authority. When arbitrators cannot agree and choose an umpire, they are said to be functi officio. If a bill of exchange be sent to the drawee, and he passes it to the credit of the holder, it is functus officio, and cannot be further negotiated. When an agent has completed the business with which he was entrusted,.his agency is functus officio. Fundamental Fundamental breach A common law principle first developed in English decisions in the 1930's, which became very popular in the U.K. and British Commonwealth jurisdictions in the 1960's, prior to the enactment of consumer protection legislation. By virtue of this doctrine, a party who had committed an intentional breach of contract so serious as to "go to the root of the contract", depriving the other contracting party of substantially the whole benefit of the contract, was held to have fundamentally breached the contract and was consequently deprived of the protection of limitation and exception clauses in the contract. Funded debt That part of the national debt for which certain funds are appropriated towards the payment of the interest. Funding system English law. The name given to a plan which provides that on the creation of a public loan, funds shall immediately be formed, and secured by law, for the payment of the interest, until the state shall redeem the whole, and also for the gradual redemption of the capital itself. This gradual redemption of the capital is called the sinking of the debt, and the fund so appropriated is called the sinking fund. Funds Cash on hands; as, A B is in funds to pay my bill on him; stocks, as, A B has $1000 in the funds. By public funds is understood, the taxes, customs, &c . appropriated by the, government for the discharge of its obligations. Fundus Civil law. Any portion of land whatever, without considering the use or employ to which it is applied. We thank you for using the Juridical Dictionary to search for Fundamental. If you have a better definition for Fundamental than the one presented here, please let us know by making use of the suggest a term option. This definition of Fundamental may be disputed by other professionals. Our attempt is to provide easy definitions on Fundamental and any other medical topic for the public at large.
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