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| This dictionary contains: 8526 juridical terms |
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Liquidation value
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Liquidation valueThe price that an owner is compelled to accept when a property must be sold without reasonable market exposure.
RELATED TERMS--------------------------------------
Price
contracts. The consideration in money given for the purchase of a thing.
Owner
Property. The owner is he who has dominion of a thing real or person-al, corporeal or incorporeal, which he has a right to enjoy and to do with as he pleases, even to spoil or destroy it, as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right.
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.
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.
Without
Pleading. This word is adopted in formal traverses, and is a negative signifying "and not for;" accordingly the language of the elder entries sometimes is, It et nemy pur tiel cause.
Reasonable
Conformable or agreeable to reason; just; rational.
Market
A public place appointed by public authority, where all sorts of things necessary for the subsistence, or for the conveniences of life, are sold.
Exposure
The potential for loss.
SIMILAR TERMS--------------------------------------
Liquidated
That which is made clear, certain, and manifest; as, liquidated damages, ascertained damages liquidated debt, an ascertained debt, as to amount. A debt is liquidated when it is certain what is due, and how much is due, cum certum est an et quantum debeatur; for although it may appear that something is due, if it does not also appear how much is due, the debt is not liquidated. An unliquidated claim is one which one of the parties to the contract cannot alone render certain.
Liquidated damages
By this term is understood the fixed amount which a party to an agreement promises to pay to the other, in case he shall not fulfil some primary or principal engagement into which he has entered by the same agreement it differs from a penalty.
Liquidation
A fixed and determinate valuation of things which before were uncertain.
Liquidator
The liquidator is the person, other than the Official Receiver, responsible for dealing with the winding up of a company.
PREVIOUS AND NEXT TERMS--------------------------------------
Liner
A vessel habitually employed on a regular schedule and loading and discharging at specified ports.
Liner terms
Liner terms refer to the ordinary responsibility of the shipowner under a charterparty to control and pay for the loading, stowage, trimming and discharge of the cargo of the charterer.
Liquidated
That which is made clear, certain, and manifest; as, liquidated damages, ascertained damages liquidated debt, an ascertained debt, as to amount. A debt is liquidated when it is certain what is due, and how much is due, cum certum est an et quantum debeatur; for although it may appear that something is due, if it does not also appear how much is due, the debt is not liquidated. An unliquidated claim is one which one of the parties to the contract cannot alone render certain.
Liquidated damages
By this term is understood the fixed amount which a party to an agreement promises to pay to the other, in case he shall not fulfil some primary or principal engagement into which he has entered by the same agreement it differs from a penalty.
Liquidation
A fixed and determinate valuation of things which before were uncertain.
Liquidation value
Liquidator
The liquidator is the person, other than the Official Receiver, responsible for dealing with the winding up of a company.
Lira
The name of a foreign coin. In all computations at the custom house, the lira of Sardinia shall be estimated at eighteen cents and six mills. Act of March 22, 1846. The lira of the Lombardo-Venitian Kingdom, and the lira of Tuscany, at sixteen cents. Act of March 22, 1846.
Lis
A suit; an action; a controversy in court; a dispute.
Lis alibi pendens
The defence that a lawsuit is pending elsewhere, between the same parties and concerning the same issues.
Lis mota
The cause of the suit or action. By this term is understood the commencement of the controversy, and the beginning of the suit.
RELATED TERMS--------------------------------------
Price
contracts. The consideration in money given for the purchase of a thing.
Owner
Property. The owner is he who has dominion of a thing real or person-al, corporeal or incorporeal, which he has a right to enjoy and to do with as he pleases, even to spoil or destroy it, as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right.
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.
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.
Without
Pleading. This word is adopted in formal traverses, and is a negative signifying "and not for;" accordingly the language of the elder entries sometimes is, It et nemy pur tiel cause.
Reasonable
Conformable or agreeable to reason; just; rational.
Market
A public place appointed by public authority, where all sorts of things necessary for the subsistence, or for the conveniences of life, are sold.
Exposure
The potential for loss.
SIMILAR TERMS--------------------------------------
Liquidated
That which is made clear, certain, and manifest; as, liquidated damages, ascertained damages liquidated debt, an ascertained debt, as to amount. A debt is liquidated when it is certain what is due, and how much is due, cum certum est an et quantum debeatur; for although it may appear that something is due, if it does not also appear how much is due, the debt is not liquidated. An unliquidated claim is one which one of the parties to the contract cannot alone render certain.
Liquidated damages
By this term is understood the fixed amount which a party to an agreement promises to pay to the other, in case he shall not fulfil some primary or principal engagement into which he has entered by the same agreement it differs from a penalty.
Liquidation
A fixed and determinate valuation of things which before were uncertain.
Liquidator
The liquidator is the person, other than the Official Receiver, responsible for dealing with the winding up of a company.
PREVIOUS AND NEXT TERMS--------------------------------------
Liner
A vessel habitually employed on a regular schedule and loading and discharging at specified ports.
Liner terms
Liner terms refer to the ordinary responsibility of the shipowner under a charterparty to control and pay for the loading, stowage, trimming and discharge of the cargo of the charterer.
Liquidated
That which is made clear, certain, and manifest; as, liquidated damages, ascertained damages liquidated debt, an ascertained debt, as to amount. A debt is liquidated when it is certain what is due, and how much is due, cum certum est an et quantum debeatur; for although it may appear that something is due, if it does not also appear how much is due, the debt is not liquidated. An unliquidated claim is one which one of the parties to the contract cannot alone render certain.
Liquidated damages
By this term is understood the fixed amount which a party to an agreement promises to pay to the other, in case he shall not fulfil some primary or principal engagement into which he has entered by the same agreement it differs from a penalty.
Liquidation
A fixed and determinate valuation of things which before were uncertain.
Liquidation value
Liquidator
The liquidator is the person, other than the Official Receiver, responsible for dealing with the winding up of a company.
Lira
The name of a foreign coin. In all computations at the custom house, the lira of Sardinia shall be estimated at eighteen cents and six mills. Act of March 22, 1846. The lira of the Lombardo-Venitian Kingdom, and the lira of Tuscany, at sixteen cents. Act of March 22, 1846.
Lis
A suit; an action; a controversy in court; a dispute.
Lis alibi pendens
The defence that a lawsuit is pending elsewhere, between the same parties and concerning the same issues.
Lis mota
The cause of the suit or action. By this term is understood the commencement of the controversy, and the beginning of the suit.
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This dictionary contains 8526 terms.
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