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Crawfurd V The Royal Bank
''Crawfurd v The Royal Bank'' (1749), also spelled ''Crawford v The Royal Bank'', was a Court of Session case in Scotland which established the "absolute currency of money", i.e. the fungibility of banknotes. Background Shortly after its incorporation in 1695, the Bank of Scotland began to banknotes of Scotland, issue banknotes. Coins were in short supply in Scotland at that time, with an estimated total value of not more than £1 million in 1707. As a result, paper banknotes soon became the preferred medium of exchange especially for high-value transactions. The Bank operated a fractional reserve, holding five times as many Liability (financial accounting), liabilities in the form of banknotes as it held assets in the form of coins by July 1696. Although paper money had firmly established itself in practice by the mid-18th century, its legal status was indeterminate without a body of case law to rely on. On 30 July 1748, an Edinburgh lawyer named Hew Crawfurd mailed two £20 n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Session
The Court of Session is the supreme civil court of Scotland and constitutes part of the College of Justice; the supreme criminal court of Scotland is the High Court of Justiciary. The Court of Session sits in Parliament House in Edinburgh and is both a trial court and a court of appeal. Decisions of the court can be appealed to the Supreme Court of the United Kingdom, with the permission of either the Inner House or the Supreme Court. The Court of Session and the local sheriff courts of Scotland have concurrent jurisdiction for all cases with a monetary value in excess of ; the plaintiff is given first choice of court. However, the majority of complex, important, or high value cases are brought in the Court of Session. Cases can be remitted to the Court of Session from the sheriff courts, including the Sheriff Personal Injury Court, at the request of the presiding sheriff. Legal aid, administered by the Scottish Legal Aid Board, is available to persons with little dis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Property
property is property that is movable. In common law systems, personal property may also be called chattels or personalty. In civil law systems, personal property is often called movable property or movables—any property that can be moved from one location to another. Personal property can be understood in comparison to real estate, immovable property or real property (such as land and buildings). Movable property on land (larger livestock, for example) was not automatically sold with the land, it was "personal" to the owner and moved with the owner. The word ''cattle'' is the Old Norman variant of Old French ''chatel'', chattel (derived from Latin ''capitalis'', “of the head”), which was once synonymous with general movable personal property. Classifications Personal property may be classified in a variety of ways. Intangible Intangible personal property or "intangibles" refers to personal property that cannot actually be moved, touched or felt, but instead repre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cryptocurrency
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities. Individual coin ownership records are stored in a digital ledger, which is a computerized database using strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. Despite their name, cryptocurrencies are not considered to be currencies in the traditional sense, and while varying treatments have been applied to them, including classification as commodities, securities, and currencies, cryptocurrencies are generally viewed as a distinc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bills Of Exchange Act 1882
The Bills of Exchange Act 1882 is a United Kingdom Act of Parliament concerning bills of exchange. The Act was drafted by Sir Mackenzie Chalmers, who later drafted the Sale of Goods Act 1893 and the Marine Insurance Act 1906. Bills of exchange are widely used to finance trade and, when discounted with a financial institution, to obtain credit. The formal legal definition of a bill of exchange is as follows: An unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to order or to bearer. Expressing this in less formal language, it is a written order from one party (the drawer) to another (the drawee) to pay a specified sum on demand or on a specified date to the drawer or to a third party specified by the drawer. Contents Section 3 requires that bills of exchange be written and signed in order to be enforceabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Precedent
A precedent is a principle or rule established in a previous legal case that is either binding on or persuasive for a court or other tribunal when deciding subsequent cases with similar issues or facts. Common-law legal systems place great value on deciding cases according to consistent principled rules, so that similar facts will yield similar and predictable outcomes, and observance of precedent is the mechanism by which that goal is attained. The principle by which judges are bound to precedents is known as ''stare decisis'' (a Latin phrase with the literal meaning of "to stand in the-things-that-have-been-decided"). Common-law precedent is a third kind of law, on equal footing with statutory law (that is, statutes and codes enacted by legislative bodies) and subordinate legislation (that is, regulations promulgated by executive branch agencies, in the form of delegated legislation) in UK parlance – or regulatory law (in US parlance). Case law, in common-law jurisdictions, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miller V Race
A miller is a person who operates a mill, a machine to grind a grain (for example corn or wheat) to make flour. Milling is among the oldest of human occupations. "Miller", "Milne" and other variants are common surnames, as are their equivalents in other languages around the world (" Melnyk" in Russian, Belorussian & Ukrainian, "Meunier" in French, " Müller" or "Mueller" in German, "Mulder" and "Molenaar" in Dutch, "Molnár" in Hungarian, "Molinero" in Spanish, "Molinaro" or "Molinari" in Italian etc.). Milling existed in hunter-gatherer communities, and later millers were important to the development of agriculture. The materials ground by millers are often foodstuffs and particularly grain. The physical grinding of the food allows for the easier digestion of its nutrients and saves wear on the teeth. Non-food substances needed in a fine, powdered form, such as building materials, may be processed by a miller. Quern-stone The most basic tool for a miller was the quern-s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Law
English law is the common law legal system of England and Wales, comprising mainly criminal law and civil law, each branch having its own courts and procedures. Principal elements of English law Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Acts of Parliament, regulations and by-laws. In the absence of any statutory law, the common law with its principle of '' stare decisis'' forms the residual source of law, based on judicial decisions, custom, and usage. Common law is made by sitting judges who apply both statutory law and established principles which are derived from the reasoning from earlier decisions. Equity is the other historic source of judge-made law. Common law can be amended or repealed by Parliament. Not being a civil law system, it has no comprehensive codification. However, most of its criminal law has been codified from its common la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Bank
A public bank is a bank, a financial institution, in which a state, municipality, or public actors are the owners. It is an enterprise under government control.Banque publique : une entreprise bancaire qui dépend de l’État - ComprendreChoisir.com Prominent among current public banking models are the Bank of North Dakota, the in Germany, and many nations’ postal bank systems. Pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Fergusson, Lord Kilkerran
Sir James Fergusson of Kilkerran, 2nd Baronet, Lord Kilkerran (1688–1759) was a Scottish judge. Biography Fergusson was the eldest son of Sir John Fergusson, 1st Baronet, of Kilkerran (whom he succeeded to the Fergusson Baronetcy in 1729), was born in 1688. He studied law possibly at Leyden, and was admitted advocate 1711. Fergusson was elected as the Member of Parliament for Sutherland in 1734, and sat for that county until he was made lord of session on 7 November 1735. It was then he took the courtesy title of Lord Kilkerran. He was made Lord of Justiciary 3 April 1749. He died at his home near Edinburgh 20 January 1759. Works Fergusson collected and digested in the form of a dictionary the ''Decisions of the Court of Session from the Year 1738 to the Year 1752''. To these are added "a few decisions given in the years 1736 and 1737". This was published by his son George (Edinburgh, 1775). "A volume much admired for its clarity, and as a model for the most useful form o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patrick Grant, Lord Elchies
Patrick Grant, Lord Elchies, Sixth of Easter Elchies (1691–1754) was a Scottish judge, rising to the level of Lord of Session and Senator of the College of Justice. Life Grant was the son of Captain Grant of Easter Elchies. He studied law at the University of Edinburgh and was admitted as an advocate on 12 February 1712, and obtained a good practice. On 3 November 1732 he was raised to the bench with the title of Lord Elchies, in succession to Sir John Maxwell of Pollock; on 3 March 1737 he succeeded Walter Pringle, Lord Newhall as a lord of justiciary. He died at his home, Inch House, on the southern edge of Edinburgh, on 27 July 1754.Grant's Old and New Edinburgh vol.6 p.338 He is buried in the sealed south-west section of Greyfriars Kirkyard in Edinburgh, in the area known as the Covenanter's Prison. His family lie with him. Family He married Margaret (1697–1746), daughter of Sir Robert Dickson of Inveresk, Baronet. Their children died young: Barbara (1729–17 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bona Fide
In human interactions, good faith ( la, bona fides) is a sincere intention to be fair, open, and honest, regardless of the outcome of the interaction. Some Latin phrases have lost their literal meaning over centuries, but that is not the case with ''bona fides'', which is still widely used and interchangeable with its generally-accepted modern-day English translation of ''good faith''. It is an important concept within law and business. The opposed concepts are bad faith, ''mala fides'' (duplicity) and perfidy (pretense). In contemporary English, the usage of ''bona fides'' is synonymous with credentials and identity. The phrase is sometimes used in job advertisements, and should not be confused with the ''bona fide'' occupational qualifications or the employer's good faith effort, as described below. ''Bona fides'' ''Bona fides'' is a Latin phrase meaning "good faith". Its ablative case is ''bona fide'', meaning "in good faith", which is often used as an adjective to mean " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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