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Interest
Interest1) Estates. The right which a man has in a chattel real, and more particularly in a future term. It is a word of less efficacy and extent than estates, though, in legal understanding, an interest extends to estates, rights and titles which a man has in or out of lands, so that by a grant of his whole interest in land, a reversion as well as the fee simple shall pass. 2) Contracts. The right of property which a man has in a thing, commonly called insurable interest. 3) Evidence. The benefit which a person has in the matter about to be decided and which is in issue between the parties. RELATED TERMS-------------------------------------- Right 1) Sometimes it signifies a law, as when we say that natural right requires us to keep our promises, or that it commands restitution, or that it forbids murder. In our language it is seldom used in this sense. 2) It sometimes means that quality in our actions by which they are denominated just ones. This is usually denominated rectitude. 3) It is that quality in a person by which he can do certain actions, or possess certain things which belong to him by virtue of some title. In this sense, we use it when we say that a man has a right to his estate or a right to defend himself. Chattel Moveable items of property which are neither land nor permanently attached to land or a building, either directly or vicariously through attachment to real property. A piano is chattel but an apartment building, a tree or a concrete building foundation are not. The opposite of chattel is real property which includes lands or buildings. All property which is not real property is said to be chattel. "Personal property" or "personalty" are other words sometines used to describe the concept of chattel. The word "chattel" came from the feudal era when "cattle" was the most valuable property besides land. Real 1) A term which is applied to land in its most enlarged signification. Real security, therefore, means the security of mortgages or other incumbrances affecting lands. 2) In the civil law, real has not the same meaning as it has in the common law. There it signifies what relates to a thing, whether it be movable or immovable, lands or goods; thus, a real injury is one which is done to a thing, as a trespass to property, whether it be real or personal in the common law sense. A real statute is one which relates to a thing, in contradistinction to such as relate to a person. Term 1) Construction. Word; expression speech. 2) Contracts. This word is used in the civil, law to denote the space of time granted to the debtor for discharging his obligation; there are express terms resulting from the positive stipulations of the agreement; as, where one undertakes to pay a certain sum on a certain day and also terms which tacitly result from the nature of the things which are the object of the engagement, or from the place where the act is agreed to be done. For instance, if a builder engage to construct a house for me, I must allow a reasonable time for fulfilling his engagement. 3) Estates. The limitation of an estate, as a term for years, for life, and the like. The word term does not merely signify the time specified in the lease, but the estate also and interest that passes by that lease; and therefore the term may expire during the continuance of the time, as by surrender, forfeiture and the like. 4) Practice. The space of time during which a court holds a session; sometimes the term is a monthly, at others it is a quarterly period, according to the constitution of the court. Word Construction. One or more syllables which when united convey an idea a single part of speech. Legal That which is according to law. It is used in opposition to equitable, as the legal estate is, in the trustee, the equitable estate in the cestui que trust. Interest 1) Estates. The right which a man has in a chattel real, and more particularly in a future term. It is a word of less efficacy and extent than estates, though, in legal understanding, an interest extends to estates, rights and titles which a man has in or out of lands, so that by a grant of his whole interest in land, a reversion as well as the fee simple shall pass. 2) Contracts. The right of property which a man has in a thing, commonly called insurable interest. 3) Evidence. The benefit which a person has in the matter about to be decided and which is in issue between the parties. Grant Conveyancing, concessio. Technically speaking, grants are applicable to the conveyance of incorporeal rights, though in the largest sense, the term comprehends everything that is granted or passed from one to another, and is applied to every species of property. Grant is one of the usual words in a feoffment, and differs but little except in the subject-matter; for the operative words used in grants are dedi et concessi, "have given and granted." Reversion Estates. The residue of an estate left in the grantor, to commence in possession after the determination of some particular estate granted out by him; it is also defined to be the return of land to the grantor, and Iiis heirs, after the grant is over. Well A hole dug in the earth in order to obtain water. Simple Not compounded, alone; as, simple interest, which is interest on the principal sum lent only and not interest on the interest; simple contract, &c. Pass 1) In the slave states this word signifies a certificate given by the master or mistress to a slave, in which it is stated that he is permitted to leave his home, with the authority of his master or mistress. The paper on which-such certificate is written is also called a pass. 2) practice. To be given, or entered; to proceed; as, let the judgment pass for the plaintiff. 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. Evidence Proof of fact(s) presented at a trial. The best and most common method is by oral testimony; where you have an eye-witness swear to tell the truth and to then relate to the court (or jury) their experience. Evidence is essential in convincing the judge or jury of your facts as the judge (or jury) is expected to start off with a blank slate; no preconceived idea or knowledge of the facts. So it is up to the opposing parties to prove (by providing evidence), to the satisfaction of the court (or jury), the facts needed to support their case. Besides oral testimony, an object can be deposited with the court (eg. a signed contract). This is sometimes called "real evidence." In other rarer cases, evidence can be circumstantial. Benefit This word is used in the same sense as gain and profits. Person This word is applied to men, women and children, who are called natural persons. Matter Some substantial or essential thing, opposed to form; facts. Issue 1) Kindred. This term is of very extensive import, in its most enlarged signification, and includes all persons who have descended from a common ancestor. But when this word is used in a will, in order to give effect to the testator's intention it will be construed in a more restricted sense than its legal import conveys. 2) Pleading. An issue, in pleading, is defined to be a single, certain and material point issuing out of the allegations of the parties, and consisting, regularly, of an affirmative and negative. In common parlance, issue also signifies the entry of the pleadings. Parties Contracts. Those persons who engage themselves to do, or not to do the matters and things contained in an agreement. SIMILAR TERMS-------------------------------------- Integer Whole, untouched. Intellectual property Intellectual Property is the term given to various forms of protection against infringement by unlawful copying, reproduction or other forms of "theft" of intangible aspects of a product, service or business. Creativity may be protected by patents, appearance by designs and copyright, and reputation by trade or service marks. Intellectual property lawsuit A lawsuit filed on the grounds that intellectual property rights have been violated. Intendant One who has the charge, management, or direction of some office, department, or public business. Intended to be recorded This phrase is frequently used in conveyancing, in deeds which recite other deeds which have not been recorded. In Pennsylvania, it has been construed to be a covenant, on the part of the grantor, to procure the deed to be recorded in a reasonable time. Intendment of law The true meaning, the correct understanding, or intention of the law; a presumption or inference made by the courts. It is an intendment of law that every man is innocent until proved guilty; that every one will act for his own advantage; that every officer acts in his office with fidelity that the children of a married woman, born during the coverture, are the children of the hushand; many things are intended after verdict, in order to support a judgment, but intendment cannot supply the want of certainty in a charge in an indictment for a crime. Intention A design, resolve, or determination of the mind. Intentional tort Wrong perpetrated by one who intends to break the law. Inter Between, among; as, inter vivos, between living persons; inter alia, among others. Inter alia Among other things. Inter alios Between other parties, who are strangers to the proceeding in question. Inter canem et lupum Literally, between the dog and the wolf. Metaphorically, the twilight; because then the dog seeks his rest, and the wolf his prey. Inter partes Latin: between parties. Inter se inter sese Among themselves. Inter vivos Between living persons. Interchangeably Formerly when deeds of land were made, where there Were covenants to be performed on both sides, it was usual to make two deeds exactly similar to each other, and to exchange them. Intercommoning English law. Where the commons of two manors lie together, and the inhabitants, or those having a right of common of both, have time out of mind depastured their cattle, without any distinction, this is called intercommoning. Intercourse Communication; commerce; connexion by reciprocal dealings between persons or nations, as by interchange of commodities, treaties, contracts, or letters. Interdict 1) Interdict or interdiction. Ecclesiastical law. An ecclesiastical censure, by which divine services are prohibited either to particular persons or particular places. 2) Civil Among the Romans it was an ordinance of the praetor, which forbade or enjoined the parties in a suit to do something particularly specified, until it should be decided definitely who had the right in relation to it. Interdicted of fire and water Formerly those persons who were banished for some crime, were interdicted of fire and water; that is, by the judgment order was given that no man should receive them into his house, but should deny them fire and water, the two necessary elements of life. Interdiction 1) Interdiction or interdict. Ecclesiastical law. An ecclesiastical censure, by which divine services are prohibited either to particular persons or particular places. 2) Civil law. A legal restraint upon a person incapable of managing his estate, because of mental incapacity, from signing any deed or doing any act to his own prejudice, without the consent of his curator or interdictor. Interesse termini Estates. An interest in the term. The demise of a term in land does not vest any estate in the lessee, but gives him a mere right of entry on the land, which right is called his interest in the term, or interesse termini. Interim In the mean time; in the meanwhile. Interim order A temporary court order; intended to be of limited duration, usually just until the court has had an opportunity of hearing the full case and make a final order. Interium (United Kingdom) Temporary, in the meanwhile. Interlineation Contracts, evidence. Writing between two lines. Interlocutory This word is applied to signify something which is done between the commencement and the end of a suit or action which decides some point or matter, which however is not a final decision of the matter in issue. Interlocutory decree A decree which directs an inquiry as to a matter of law or fact preparatory to a final decision. Interlocutory injunction An injunction which lasts only until the end of the trial during which the injunction was sought. Interloper A person who, without legal right, runs a business (eg. without mandatory licenses), or who wrongfully interferes or intercepts another's business. Interlopers Persons who interrupt the trade of a company of merchants, by pursuing the same business with them in the same place, without lawful authority. Intermediate term A term of a contract which cannot easily be classified as either a condition (a contractual term the breach of which deprives the aggrieved party of substantially the entire benefit which it was intended he should obtain from the contract, thus permitting him to sue for the annulment of the contract and/or damages) or a warranty (breach of which is of a less serious nature, sounding only in damages). An intermediate (innominate) term, by comparison, is a term which (if the parties have not stipulated that is either a condition or a warranty) the court must examine on a case-by-case basis, evaluating the nature and consequences of its breach in the light of the contract as a whole, in order to decide whether it should be treated as a condition or as a warranty. Internal revenue service The federal agency which administers the tax laws of the United States. International That which pertains to intercourse between nations. International law is that which regulates the intercourse between, or the relative rights of nations. International congress of maritime arbitrators A convention of maritime arbitrators held every second year in different parts of the world since 1972, also attended by many judges, lawyers, and shipping officials concerned with maritime arbitration (supra). International law A combination of treaties and customs which regulates the conduct of states amongst themselves. The highest judicial authority of international law is the International Court of Justice and the administrative authority is the United Nations. International law or law of nations The law which regulates the conduct and mutual intercourse of independent states with each other by reason and natural justice. 1 Bl. Com. xxiv, 43. International maritime and commercial law yearbook A jurisdictional review of international maritime and commercial law, published by Informa Professional since 2002, and containing annual summaries of the maritime law and marine insurance decisions rendered by courts in Australia, Canada, the United Kingdom and the United States. International maritime dangerous goods code The International Maritime Dangerous Goods Code, adopted by the IMO. International maritime law institute A specialized institute established under the auspices of the IMO), providing maritime law courses to practitioners and students in Malta. Director: David J. Attard. International maritime security An organization specializing in providing and implementing the International Ship and Port Facility Security Code (ISPS Code). International representative As a nonimmigrant class of admission, an alien coming temporarily to the United States as a principal or other accredited representative of a foreign government (whether officially recognized or not recognized by the United States) to an international organization, an international organization officer or employee, and all above aliens’ spouses and unmarried minor (or dependent) children. International safety management code The International Management Code for the Safe Operation of Ships and for Pollution Prevention (commonly called the "ISM Code") was originally the annex to Resolution No. A.741(18), adopted by the IMO Assembly at its Eighteenth Session on November 4, 1993, but has now become Annex IX to the Safety of Life at Sea (SOLAS) Convention, infra. International transport workers' federation The ITF is a global organization of more than 621 transport trade unions in 137 countries, representing around 5 million workers. It is one of 10 Global Union Federations (formerly International Trade Secretariats) allied to the International Confederation of Free Trade Unions (ICTFU). Founded in 1896, it organizes workers in seafaring, docks, railways, road transport, civil aviation, inland navigation, fisheries, and civil aviation and tourism. It represents the interests of transport workers at world level through its input into global solidarilty, promotes independent and democratic trade unionism and defends human and trade union rights. International underwriting association of london An association of international insurers and reinsurers created in 1998 by the merger of the Institute of London Underwriters, and the London International Insurance and Reinsurance Market Association (LIRMA). International union of marine insurance The international association of marine insurers (hull, cargo, liability, energy & offshore) has its head office in Zurich, Switzerland. Internuncio A minister of a second order, charged with the affairs of the court of Rome, where that court has no nuncio under that title. Interpretation The explication of a law, agreement, will, or other instrument, which appears obscure or ambiguous. Interpreter One employed to make a translation. Interregnum Political law. In an established government, the period which elapses between the death of a sovereign and the election of another is called interregnum. It is also understood for the vacancy created in the executive power, and for any vacancy which occurs when there is no government. Interrelation Civil law. The act by which, in consequence of an agreement, the party bound declares that he will not be bound beyond a certain time. Interrogation An interview of a suspect conducted for the main purpose of obtaining an admission of guilt, to identify and neutralize defenses the target may raise, and to obtain information used to impeach the Suspect. Interrogatoire French law. An act, or instrument, which contains the interrogatories made by the judge to the person accused, on the facts which are the object of the accasation, and the answers of the accused. Interrogatories A set or series of written questions propounded to a party, witness, or other person having information or interest in a case; a discovery device. Interruption The effect of some act or circumstance which stops the course of a prescription or act of limitation's. Interval A space of time between two periods. Intervention Civil law. The act by which a third party becomes a party in a suit pending between other persons. The intervention is made either to be joined to the plaintiff, and to claim the same thing he does, or some other thing connected with it or, to join the defendant, and with him to oppose the claim of the plaintiff, which it-is his interest to defeat. Intervention convention The International Convention relating to Intervention on the High Seas in Cases of Oil Pollution Casualties, adopted by IMO (supra) at Brussels, November 29, 1969 and in force May 6, 1975. Interview A structured (planned) question and answer session with a person designed to elicit information. Intestable One who cannot law fully make a testament. Intestacy The state or condition of dying without a will. Intestate One who, having lawful power to make a will, has made none, or one which is defective in form. In that case, he is said to die intestate, and his estate descends to his heir at law. Intestate succession A succession of property when the deceased has left no will, or when the will has been revoked. PREVIOUS AND NEXT TERMS-------------------------------------- Intercourse Communication; commerce; connexion by reciprocal dealings between persons or nations, as by interchange of commodities, treaties, contracts, or letters. Interdict 1) Interdict or interdiction. Ecclesiastical law. An ecclesiastical censure, by which divine services are prohibited either to particular persons or particular places. 2) Civil Among the Romans it was an ordinance of the praetor, which forbade or enjoined the parties in a suit to do something particularly specified, until it should be decided definitely who had the right in relation to it. Interdicted of fire and water Formerly those persons who were banished for some crime, were interdicted of fire and water; that is, by the judgment order was given that no man should receive them into his house, but should deny them fire and water, the two necessary elements of life. Interdiction 1) Interdiction or interdict. Ecclesiastical law. An ecclesiastical censure, by which divine services are prohibited either to particular persons or particular places. 2) Civil law. A legal restraint upon a person incapable of managing his estate, because of mental incapacity, from signing any deed or doing any act to his own prejudice, without the consent of his curator or interdictor. Interesse termini Estates. An interest in the term. The demise of a term in land does not vest any estate in the lessee, but gives him a mere right of entry on the land, which right is called his interest in the term, or interesse termini. Interest Interim In the mean time; in the meanwhile. Interim order A temporary court order; intended to be of limited duration, usually just until the court has had an opportunity of hearing the full case and make a final order. Interium (United Kingdom) Temporary, in the meanwhile. Interlineation Contracts, evidence. Writing between two lines. Interlocutory This word is applied to signify something which is done between the commencement and the end of a suit or action which decides some point or matter, which however is not a final decision of the matter in issue. We thank you for using the Juridical Dictionary to search for Interest. If you have a better definition for Interest than the one presented here, please let us know by making use of the suggest a term option. This definition of Interest may be disputed by other professionals. Our attempt is to provide easy definitions on Interest and any other medical topic for the public at large.
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