|
 |
||
 |
| This dictionary contains: 8526 juridical terms |
 |
Lapping
|
|
LappingStealing a customer payment and then using a subsequent customer payment to cover the previous customer's account. This overlapping payments creates a "float" of money that can be used as long as all payments are eventually posted. What usually occurs is that the lapping process builds up like a giant pyramid until it falls apart when not enough payments are available to cover the amounts owed.
RELATED TERMS--------------------------------------
Stealing
This term imports, ex vi termini, nearly the same as larceny; but in common parlance, it does not always import a felony; as, for example, you stole an acre of my land.
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.
Account
Practice. 1) A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2) An account is also the statement of two merchants or others who have dealt together, showing the debits and credits between them.
Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.
Lapping
Stealing a customer payment and then using a subsequent customer payment to cover the previous customer's account. This overlapping payments creates a "float" of money that can be used as long as all payments are eventually posted. What usually occurs is that the lapping process builds up like a giant pyramid until it falls apart when not enough payments are available to cover the amounts owed.
Process
1) Practice. So denominated because it proceeds or issues forth in order to bring the defendant into court, to answer the charge preferred against him, and signifies the writ or judicial means by which he is brought to answer. 2) Rights. The means or method of accomplishing a thing.
When
1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Lamb
A ram, sheep or ewe, under the age of one year.
Land mark
A monument set up in order to ascertain the boundaries between two contiguous estates. For removing a land mark an action lies.
Land tenant
He who actually possesses the land. He is technically called the terre-tenant.
Landlord
A person firm or company which grants a lease or licence to a tenant and is accordingly responsible for the landlord's obligations under the lease. The landlord may be the owner of the freehold or a leasehold interest that permits him to underlet. now-how as a term often covers matters such as new product plans, costings, materials, production information, financial status, accountancy information, consumer lists and business information.
Languidus
Practice. The name of a return made by the sheriff, when a defendant whom he has taken by virtue of process is so dangerously sick that to remove him would endanger his life or health. In that case the officer may and ought unquestionably to abstain from removing him, and may permit him to remain even in his own house, in the custody of a follower, though not named in the warrant, he keeping the key of the house in his possession the officer ought to remove him as soon is sufficiently recovered. If there be a doubt as to the state of health of the defendant, the officer should require the attendance and advice of some respectable medical man, and require him, at the peril of the consequences of misrepresentation, to certify in writing whether it be fit to remove the party, or take him to prison within the county.
Lapping
Lapse
Ecclesiastical law. The transfer, by forfeiture, of a right or power to present or collate to a vacant benefice, from, a person vested with such right, to another, in consequence of some act of negligence of the former.
Lapsed gift
A gift made in a will to a person who has died prior to the will-makers death.
Lapsed legacy
One which is extinguished. The extinguishment may take place for various reasons.
Larceny
Criminal law. The wrongful and fraudulent taking and carrying away, by one person, of the mere personal goods, of another, from any place, with a felonious intent to convert them to his, the taker's use, and make them his property, without the consent of the owner.
Large
Broad; extensive; unconfined. The opposite of strict, narrow, or confined. At large, at liberty
RELATED TERMS--------------------------------------
Stealing
This term imports, ex vi termini, nearly the same as larceny; but in common parlance, it does not always import a felony; as, for example, you stole an acre of my land.
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.
Account
Practice. 1) A statement of the receipts and payments of an executor, administrator, or other trustee, of the estate confided to him. 2) An account is also the statement of two merchants or others who have dealt together, showing the debits and credits between them.
Money
Gold, silver, and some other less precious metals, in the progress of civilization and commerce, have become the common standards of value; in order to avoid the delay and inconvenience of regulating their weight and quality whenever passed, the governments of the civilized world have caused them to be manufactured in certain portions, and marked with a Stamp which attests their value; this is called money.
Lapping
Stealing a customer payment and then using a subsequent customer payment to cover the previous customer's account. This overlapping payments creates a "float" of money that can be used as long as all payments are eventually posted. What usually occurs is that the lapping process builds up like a giant pyramid until it falls apart when not enough payments are available to cover the amounts owed.
Process
1) Practice. So denominated because it proceeds or issues forth in order to bring the defendant into court, to answer the charge preferred against him, and signifies the writ or judicial means by which he is brought to answer. 2) Rights. The means or method of accomplishing a thing.
When
1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Lamb
A ram, sheep or ewe, under the age of one year.
Land mark
A monument set up in order to ascertain the boundaries between two contiguous estates. For removing a land mark an action lies.
Land tenant
He who actually possesses the land. He is technically called the terre-tenant.
Landlord
A person firm or company which grants a lease or licence to a tenant and is accordingly responsible for the landlord's obligations under the lease. The landlord may be the owner of the freehold or a leasehold interest that permits him to underlet. now-how as a term often covers matters such as new product plans, costings, materials, production information, financial status, accountancy information, consumer lists and business information.
Languidus
Practice. The name of a return made by the sheriff, when a defendant whom he has taken by virtue of process is so dangerously sick that to remove him would endanger his life or health. In that case the officer may and ought unquestionably to abstain from removing him, and may permit him to remain even in his own house, in the custody of a follower, though not named in the warrant, he keeping the key of the house in his possession the officer ought to remove him as soon is sufficiently recovered. If there be a doubt as to the state of health of the defendant, the officer should require the attendance and advice of some respectable medical man, and require him, at the peril of the consequences of misrepresentation, to certify in writing whether it be fit to remove the party, or take him to prison within the county.
Lapping
Lapse
Ecclesiastical law. The transfer, by forfeiture, of a right or power to present or collate to a vacant benefice, from, a person vested with such right, to another, in consequence of some act of negligence of the former.
Lapsed gift
A gift made in a will to a person who has died prior to the will-makers death.
Lapsed legacy
One which is extinguished. The extinguishment may take place for various reasons.
Larceny
Criminal law. The wrongful and fraudulent taking and carrying away, by one person, of the mere personal goods, of another, from any place, with a felonious intent to convert them to his, the taker's use, and make them his property, without the consent of the owner.
Large
Broad; extensive; unconfined. The opposite of strict, narrow, or confined. At large, at liberty
We thank you for using the Juridical Dictionary to search for Lapping. If you have a better definition for Lapping than the one presented here, please let us know by making use of the suggest a term option. This definition of Lapping may be disputed by other professionals. Our attempt is to provide easy definitions on Lapping and any other medical topic for the public at large.
This dictionary contains 8526 terms.
|
|