Juridical Dictionary

This dictionary contains:
8526
juridical terms

Term overriding royalty






Term overriding royalty

Term overriding royalty means an interest in liquid or gaseous hydrocarbons in place or to be produced from particular real property that entitles the owner thereof to a share of production, or the value thereof, for a term limited by time, quantity, or value realized.

RELATED TERMS
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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.

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.

Place
Pleading, evidence. A particular portion of space; locality.

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.

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.

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.

Share
A portion of anything. Sometimes shares are equal, at other times they are unequal.

Value
Common law. This term has two different meanings. It sometimes expresses the utility of an object, and some times the power of purchasing other good with it. The first may be called value in use, the latter value in exchange.

Time
Contracts, evidence, practice. The measure of duration., It is divided into years, months. days, hours, minutes, and seconds. It is also divided into day and night. 2) Pleading. The avertment of time is generally necessary in pleading; the rules are different, in different actions.

Quantity
Pleading. That which is susceptible of measure.



SIMILAR TERMS
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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.

Term attendant on the inheritance
This phrase is used in the English courts of equity, to signify that when a term has been created for a particular purpose, which is satisfied, and the instrument by which it is created does not provide for a cesser of the term, on the happening of the event, the benefit in it becomes subject to the rules of equity, and must be moulded and disposed of according to the equitable interests of all persons having claims upon the inheritance; and, when the purposes of the trust fire satisfied, the ownership of the term belongs in equity, to the owner of the inheritance, whether de-clared by the original conveyance to attend it or not.

Term probatory
A probatory term is the time during which evidence may be taken in a cause.

Terminal operators convention
The United Nations Convention on the Liability of Operators of Transport Terminals in International Trade, adopted at Vienna, April 19, 1991, not yet in force.

Termination rights provision
The Copyright Act provides for the termination of a grant or transfer of rights 35 years after the transfer that can be exercised by an author within five years after the running of the 35 year period. Termination rights are an important limitation on universal/all rights clauses because the right to terminate does not transfer with "all rights." This provision is not, however, applicable to work for hire contracts.

Terminum
In the civil law, says Spelman, this word signifies a day set to the defendant, and, in that sense.

Terminus a quo
The starting point of a private way is so called.

Terminus ad quem
The point of termination of a private way is so called.

Termor
One who holds lands and tenements for a term of years or, life.

Terms and conditions of employment
An employee must receive key particulars of his employment in writing within two months of commencing employment. These are known as the Terms and Conditions of Employment.

Terms and conditions of purchase
These, generally pre-printed, terms and conditions of purchase are provided by one trading company to another as the terms upon which they will do business.

Terms and conditions of sale
These, generally pre-printed, terms and conditions of sale are provided by one trading company to another as the terms upon which they will do business.



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Tenuit
Which he held. When the tenancy is ended and the tenant is sued in an action of waste, the averment of tenure is in the tenuit. For a distinction between the averment in the tenet and tenuit.

Tenure
Estates. The manner in which lands or tenements are holden. 2. According to the English law, all lands are held mediately or immediately from the king, as lord paramount and supreme proprietor of all the lands in the kingdom.

Terce
Scotch law. A life-rent competent by law to widows who have not accepted of special provisions in the third part of the heritable subjects in which the hushand died infeft.

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.

Term attendant on the inheritance
This phrase is used in the English courts of equity, to signify that when a term has been created for a particular purpose, which is satisfied, and the instrument by which it is created does not provide for a cesser of the term, on the happening of the event, the benefit in it becomes subject to the rules of equity, and must be moulded and disposed of according to the equitable interests of all persons having claims upon the inheritance; and, when the purposes of the trust fire satisfied, the ownership of the term belongs in equity, to the owner of the inheritance, whether de-clared by the original conveyance to attend it or not.

Term overriding royalty

Term probatory
A probatory term is the time during which evidence may be taken in a cause.

Terminal operators convention
The United Nations Convention on the Liability of Operators of Transport Terminals in International Trade, adopted at Vienna, April 19, 1991, not yet in force.

Termination rights provision
The Copyright Act provides for the termination of a grant or transfer of rights 35 years after the transfer that can be exercised by an author within five years after the running of the 35 year period. Termination rights are an important limitation on universal/all rights clauses because the right to terminate does not transfer with "all rights." This provision is not, however, applicable to work for hire contracts.

Terminum
In the civil law, says Spelman, this word signifies a day set to the defendant, and, in that sense.

Terminus a quo
The starting point of a private way is so called.

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This dictionary contains 8526 terms.