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Living trust
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Living trustA trust set up and in effect during the lifetime of the grantor. (Also called inter vivos trust.)
RELATED TERMS--------------------------------------
Trust
Contracts, devises. An equitable right, title or interest in property, real or personal, distinct from its legal ownership; or it is a personal obligation for paying, delivering or performing anything, where the person trusting has no real. right or security, for by, that act he confides altogether to the faithfulness of those intrusted. This is its most general meaning, and includes deposits, bailments, and the like. In its more technical sense, it may be defined to be an obligation upon a person, arising out of a confidence reposed in him, to apply property faithfully, and according to such confidence.
Effect
The operation of a law, of an agreement, or an act, is called its effect.
Grantor
He by whom a grant is made.
Inter
Between, among; as, inter vivos, between living persons; inter alia, among others.
SIMILAR TERMS--------------------------------------
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.
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.
PREVIOUS AND NEXT TERMS--------------------------------------
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 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.
Living 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.
Loadmanage
Maritime law, contracts. The pay to loadsmen; that is, persons who sail or row before ships, in barks or small vessels, with instruments for towing the ship, and directing her course, in order that she may escape the dangers in her way.
RELATED TERMS--------------------------------------
Trust
Contracts, devises. An equitable right, title or interest in property, real or personal, distinct from its legal ownership; or it is a personal obligation for paying, delivering or performing anything, where the person trusting has no real. right or security, for by, that act he confides altogether to the faithfulness of those intrusted. This is its most general meaning, and includes deposits, bailments, and the like. In its more technical sense, it may be defined to be an obligation upon a person, arising out of a confidence reposed in him, to apply property faithfully, and according to such confidence.
Effect
The operation of a law, of an agreement, or an act, is called its effect.
Grantor
He by whom a grant is made.
Inter
Between, among; as, inter vivos, between living persons; inter alia, among others.
SIMILAR TERMS--------------------------------------
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.
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.
PREVIOUS AND NEXT TERMS--------------------------------------
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 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.
Living 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.
Loadmanage
Maritime law, contracts. The pay to loadsmen; that is, persons who sail or row before ships, in barks or small vessels, with instruments for towing the ship, and directing her course, in order that she may escape the dangers in her way.
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This dictionary contains 8526 terms.
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