Juridical Dictionary

This dictionary contains:
8526
juridical terms

To open a credit






To open a credit

When a banker accepts or pays a bill of exchange drawn on him by a correspondent, who has not furnished him with funds, he is said to open a credit with the drawer.

RELATED TERMS
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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.

Banker
Com. law. A banker is one engaged in the business of receiving other persons money in deposit, to be returned on demand discounting other persons' notes, and issuing his own for circulation. One who performs the business usually transacted by a bank.

Pays
The country. Trial per pays, is a trial by the country; that is, by jury.

Bill
1) Legislation. An instrument drawn or presented by a member or committee to a legislative body for its approbation and enactment. After it has gone through both houses and received the constitutional sanction of the chief magistrate, where such approbation is requisite, it becomes a law. 2) Merchant law. An account containing the items of goods sold, or of work done by one person against another. 3) Contracts. A bill or obligation, is a deed whereby the obligor acknowledges himself to owe unto the obligee a certain sum of money or some other thing, in which, besides the names of the parties, are to be considered the sum or thing due, the time, place, and manner of payment or delivery thereof. It may be indented, or poll, and with or without a penalty.

Funds
Cash on hands; as, A B is in funds to pay my bill on him; stocks, as, A B has $1000 in the funds. By public funds is understood, the taxes, customs, &c . appropriated by the, government for the discharge of its obligations.

Said
Before mentioned.

Credit
Common law, contracts. The ability to borrow, on the opinion conceived by the lender that he will be repaid. This definition includes the effect and the immediate cause of credit. The debt due in consequence of such a contract is also called a credit; as, administrator of an the goods, chattels, effects and credits.

Drawer
Contracts. The party who makes a bill of exchange.



SIMILAR TERMS
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To observe
Civil law. To perform that which has been prescribed by some law or usage.



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To lie
That which is proper, is fit; as, an action on the case lies for an injury committed without force; corporeal hereditaments lie in livery, that is, they pass by livery; incorporeal hereditaments lie in grant, that is, pass by the force of the grant, and without any livery.

To maim
Criminal law. To deprive a person of such part of his body as to ren- der him less able in fighting or defending himself than he would have otherwise been.

To make
English law. To perform or execute; as to make his law, is to per- form that law which a man had bound himself to do; that is, to clear himself of an action commenced against him, by his oath, and the oaths of his neighbors.To make default, is to fail to appear in proper time. To make oath, is to swear according to the form prescribed by law

To muster
Maritime law. By this term is understood to collect together and exhibit soldiers and their arms; it also signifies to employ recruits and put their names down in a book to enrol them.

To observe
Civil law. To perform that which has been prescribed by some law or usage.

To open a credit

To pack
1) To deceive by false appearance; to counterfeit; to delude; as packing a jury. 2) Civil law. An agreement made by two or more persons on the same subject in order to form some engagement, or to dissolve or modify, one already made, conventio est duorum in idem placitum consensus de re solvenda, id. est facienda vel praestanda.

To pass
To accomplish, to complete, to decide.

To plunder
The capture of personal property on land by a public enemy, with a view of making it his own. The property so captured is called plunder.

To put
Pleading. To select, to demand; as, the said C D puts himself upon the country; that is, he selects the trial by jury, as the mode of settling the matter in dispute, and does not rely upon an issue in law.

To quarter
A barbarous punishment formerly inflicted on criminals by tearing them to pieces by means of four horses, one attached to each limb.

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This dictionary contains 8526 terms.