Juridical Dictionary

This dictionary contains:
8526
juridical terms

Living pledge






Living pledge

Living pledge or Vivum Vadium , contracts. When a man borrows a sum of money (suppose two hundred dollars) of another, and grants him an estate, as of twenty dollars per annum, to hold till the rents and profits shall repay the sum so borrowed.

RELATED TERMS
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Pledge
Pledge or pawn. Contracts. These words seem indifferently used to convey the same idea. 2) Pledge Contracts. He who becomes security for another, and, in this sense, every one who becomes bail for another is a pledge

Vadium
Contracts. A pledge, or surety

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.

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.

Hundred
English law. A district of country originally comprehending one hundred families. In many cases, when an offence is committed within the -hundred, the inhabitants tire civilly responsible to the party injured.

Estate
A right or interest in property or the property of a deceased person.

Hold
To decide, adjudge, decree. Whence also freehold and leasehold. "Holding", relating to ownership in property, embraces two idea: actual possession of some subject of property, and being invested with the legal title. It may be applied to anything the subject of property, in law or in equity.

Profits
In general, by this term is understood the benefit which a man derives from a thing. It is more particularly applied to such benefit as arises from his labor and skill.



SIMILAR TERMS
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Living trust
A trust set up and in effect during the lifetime of the grantor. (Also called inter vivos trust.)

Living will
A legal document in which a person states, in advance of final illness or injury, her or hir wishes regarding procedures and equipment designed to extend life or not.



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Litis magister
He who controls a suit.

Litispendence
The part of an action being depending and undetermined; the time during which an action is pending.

Litre
A French measure of capacity. It is of the size of a decimetre, or one-tenth part of a cubic metre. It is equal to 61.028 cubic inches.

Livery
English law. 1) The delivery of possession of lands to those tenants who hold of the king in capite, or knight's service. 2) Livery was also the name of a writ which lay for the heir of age, to obtain the possession of seisin of his lands at the king's hands. 3) It signifies, in the third place, the clothes given by a nobleman or gentleman to his servant.

Livery of seisin
Estates. A delivery of possession of lands, tenements, and hereditaments, unto one entitled to the same. This was a ceremony used in the common law for the conveyance of real estate; and the livery was in deed, which was performed by the feoffor and the feoffee going upon the land, and the latter receiving it from the former; or in law, where the game was not made on the land, but in sight of it.

Living pledge

Living trust
A trust set up and in effect during the lifetime of the grantor. (Also called inter vivos trust.)

Livre tournois
Common law. A coin used in France before the revolution. It is to be computed in the ad valorem duty on goods, &c., at eighteen and a half cents. Act of March 2, 1798,

Ll.b., l.m. or ll.d.
The Latin abbreviations for the three classes of law degrees: the regular bachelor degree in law (LL.B.), the masters degree in law (LL.M.) and the doctorate in law (LL.D.). These are basic prerequisites to admission to the practice of law in many states.

Lloyd's register of shipping
A parent organization which is the world's leading classification society. The Register of Ships contains details of some 83,000 merchant ships from around the world. For publications, contact Marine Information Publishing Group.

Load lines
Lines painted on the side of a ship, indicating the maximum depth to which the vessel may safely be loaded.

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This dictionary contains 8526 terms.