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Extinguishment
In contract law, extinguishment is the destruction of a right or contract. Rawle, Francis; Bouvier, John. (1914) Bouvier's Law Dictionary and Concise Encyclopedia Extinguishment.' Pp. 1166-1167. 3rd revision (being the 8th ed.) Vernon Law Book Co. ; St. Paul, Minnesota. Publisher: West Publishing Company. 3 vols. If the subject of the contract is destroyed (such as through merging the contract subject and the contract obligation), then the contract may be made void. Extinguishment occurs in a variety of contracts, such as land contracts (common, copyhold), debts, rents, and right of ways. A right may be extinguished by nullifying that right or, in the case of a debt, discharged by payment in full or through settlement.Dictionary.com (2008) Extinguishment.' Accessed June 16, 2008 An extinguishment may be by matter of fact and by matter of law. If a creditor receives satisfaction and full payment of a debt and the creditor releases the debtor, then that is express extinguishment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Easement
An easement is a nonpossessory right to use and/or enter onto the real property of another without possessing it. It is "best typified in the right of way which one landowner, A, may enjoy over the land of another, B". An easement is a property right and type of incorporeal property in itself at common law in most jurisdictions. An easement is similar to real covenants and equitable servitudes. In the United States, the Restatement (Third) of Property takes steps to merge these concepts as servitudes. Easements are helpful for providing access across two or more pieces of property, allowing individuals to access other properties or a resource, for example to fish in a privately owned pond or to have access to a public beach. The rights of an easement holder vary substantially among jurisdictions. Types Historically, common law courts would enforce only four types of easement: * Right-of-way (easements of way) * Easements of support (pertaining to excavations) * Easemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Simple Contract
In contract law, a ''simple contract'' is a contract made orally or in writing or both of them rather than a contract made under seal. Simple contracts require consideration to be valid, but simple contracts may be implied from the conduct of parties bound by the contract. William Blackstone observed in his ''Commentaries on the Laws of England'' that in the seventeenth century, debtors used simple contracts as one of three accepted forms of unsecured debt instruments. In 1828, the Parliament of the United Kingdom amended the statute of frauds so that oral acknowledgments or promises could not be used as evidence to prove the existence of a simple contract. Today, some American jurisdictions have established that a security interest is perfected "when a creditor on a simple contract cannot acquire a judicial lien that is superior to the interest" of the secured party.Timothy R. Zinnecker''Purchase Money Security Interests in the Preference Zone: Questions Answered and Questions Rai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasehold
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property. Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given length of time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and thereafter held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) on a periodic basis such as weekly or monthly. Terminology and types of leasehold vary from country to country. Sometimes, but not always, a residential tenancy under a lease agreement is colloquially known as renting. The l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freehold (real Property)
In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple absolute," which is without limitations on the land's use (such as qualifiers or conditions that disallow certain uses of the land or subject the vested interest to termination). The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the condition fails; this is a fee simple conditional. History The word "fee" is related to the term fief, meaning a feudal landhol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fee Simple
In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple absolute," which is without limitations on the land's use (such as qualifiers or conditions that disallow certain uses of the land or subject the vested interest to termination). The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the condition fails; this is a fee simple conditional. History The word "fee" is related to the term fief, meaning a feudal landhol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Tenure
In common law systems, land tenure, from the French verb "tenir" means "to hold", is the legal regime in which land owned by an individual is possessed by someone else who is said to "hold" the land, based on an agreement between both individuals. It determines who can use land, for how long and under what conditions. Tenure may be based both on official laws and policies, and on informal local customs (insofar higher law does allow that). In other words, land tenure implies a system according to which land is held by an individual or the actual tiller of the land but this person does not have legal ownership. It determines the holder's rights and responsibilities in connection with their holding. The sovereign monarch, known in England as The Crown, held land in its own right. All land holders are either its tenants or sub-tenants. ''Tenure'' signifies a legal relationship between tenant and lord, arranging the duties and rights of tenant and lord in relationship to the land. Ov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Copyhold
Copyhold was a form of customary land ownership common from the Late Middle Ages into modern times in England. The name for this type of land tenure is derived from the act of giving a copy of the relevant title deed that is recorded in the manorial court roll to the tenant; not the actual land deed itself. The legal owner of the manor land remained the mesne lord, who was legally the ''copyholder'', according to the titles and customs written down in the manorial roll. In return for being given land, a copyhold tenant was required to carry out specific manorial duties or services. The specific rights and duties of copyhold tenants varied greatly from one manor to another and many were established by custom. By the 19th century, many customary duties had been replaced with the payment of rent. Copyhold was directly descended from the feudal system of villeinage which involved giving service and produce to the local lord in return for land. Although feudalism in England had ende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Release
A legal release is a legal instrument that acts to terminate any legal liability between the releasor and the releasee(s), signed by the releasor. A release may also be made orally in some circumstances. Releases are routinely used by photographers, in film production, by documentary filmmakers, or by radio and music producers when they photograph, film, video or record the voice or performance of individuals to be sure that the person consents or will not later object to the material being used for whatever purpose the release (or anyone they may assign the release rights to) wishes, i.e. that the release wishes to use the images, sounds or any other rendering that is a result of the recording made of the releasor (or property owned by the releasor for which the releasor may claim some other right such as industrial design rights, trademark or trade dress rights). This will help in insuring the copyright owner has a clean chain of title for any work if it is later published, bro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fee Simple
In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple absolute," which is without limitations on the land's use (such as qualifiers or conditions that disallow certain uses of the land or subject the vested interest to termination). The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the condition fails; this is a fee simple conditional. History The word "fee" is related to the term fief, meaning a feudal landhol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Land
Common land is land owned by a person or collectively by a number of persons, over which other persons have certain common rights, such as to allow their livestock to graze upon it, to collect Wood fuel, wood, or to cut turf for fuel. A person who has a right in, or over, common land jointly with another or others is usually called a commoner. In the New Forest, the New Forest Commoner is recognised as a minority cultural identity as well as an agricultural vocation, and members of this community are referred to as Commoners. In Great Britain, common land or former common land is usually referred to as a common; for instance, Clapham Common and Mungrisdale Common. Due to enclosure, the extent of common land is now much reduced from the millions of acres that existed until the 17th century, but a considerable amount of common land still exists, particularly in upland areas. There are over 8,000 registered commons in England alone. Origins Originally in medieval England the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
