|
Hamer V. Sidway
''Hamer v. Sidway'', 124 N.Y. 538, 27 N.E. 256 (N.Y. 1891), was a noted decision by the New York Court of Appeals (the highest court in the state), New York, United States. Hamer v. Sidway is an important case in American contract law which established that forbearance of legal rights (voluntarily abstaining from one's legal rights) on promises of future benefit made by other parties can constitute valid consideration (the element of exchange generally needed to establish a contract's enforceability in common law systems), and, in addition, that unilateral contracts (those that benefit only one party) were valid under New York law. Facts Louisa Hamer (Plaintiff) brought suit against Franklin Sidway, the executor of the estate of William E. Story I ( Defendant), for the sum of $5,000. On March 20, 1869, William E. Story had promised his nephew, William E. Story II, $5,000 if his nephew would abstain from drinking alcohol, using tobacco, swearing, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Court Of Appeals
The New York Court of Appeals is the highest court in the Unified Court System of the State of New York. The Court of Appeals consists of seven judges: the Chief Judge and six Associate Judges who are appointed by the Governor and confirmed by the State Senate to 14-year terms. The Chief Judge of the Court of Appeals also heads administration of the state's court system, and thus is also known as the Chief Judge of the State of New York. Its 1842 Neoclassical courthouse is located in New York's capital, Albany. Nomenclature In the Federal court system, and most U.S. states, the court of last resort is known as the "Supreme Court". New York, however, calls its trial and intermediate appellate courts the "Supreme Court", and the court of last resort the Court of Appeals. This sometimes leads to confusion regarding the roles of the respective courts. Further adding to the misunderstanding is New York's terminology for jurists on its top two courts. Those who sit on its supreme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systems
A system is a group of interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by its boundaries, structure and purpose and expressed in its functioning. Systems are the subjects of study of systems theory and other systems sciences. Systems have several common properties and characteristics, including structure, function(s), behavior and interconnectivity. Etymology The term ''system'' comes from the Latin word ''systēma'', in turn from Greek ''systēma'': "whole concept made of several parts or members, system", literary "composition"."σύστημα" Henry George Liddell, Robert Scott, '' |
Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the bank plays the role of the borrower. Interest diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchequer Chamber
The Court of Exchequer Chamber was an English appellate court for common law civil actions before the reforms of the Judicature Acts of 1873–1875. It originated in the fourteenth century, established in its final form by a statute of 1585. The court heard references from the King's Bench, the Court of Exchequer and, from 1830, directly rather than indirectly from the Court of Common Pleas. It was constituted of four judges belonging to the two courts that had been uninvolved at first instance. In cases of exceptional importance such as the ''Case of Mines'' (1568) and '' R v Hampden'' (1637) twelve common law judges, four from each division below, sitting in Exchequer Chamber, might be asked to determine a point of law, the matter being referred by the court hearing the case rather than the parties. Though further appeal to the House of Lords was possible, this was rare before the nineteenth century. As a rule, a judgment of the Exchequer Chamber was considered the definitive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consideration Under American Law
Consideration is the central concept in the common law of contracts and is required, in most cases, for a contract to be enforceable. Consideration is the price one pays for another's promise. It can take a number of forms: money, property, a promise, the doing of an act, or even refraining from doing an act. In broad terms, if one agrees to do something he was not otherwise legally obligated to do, it may be said that he has given consideration. For example, Jack agrees to sell his car to Jill for $100. Jill's payment of $100 (or her promise to do so) is the consideration for Jack's promise to give Jill the car, and Jack's promise to give Jill the car is consideration for Jill's payment of $100. Elements of consideration The Restatement (Second) of Contracts states that the elements of consideration are as follows: An example of this is renting of apartment. The landlord and tenant come together to discuss the terms of the exchange (most of the time, the leasing is outlined i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judge
A judge is a person who presides over court proceedings, either alone or as a part of a panel of judges. A judge hears all the witnesses and any other evidence presented by the barristers or solicitors of the case, assesses the credibility and arguments of the parties, and then issues a ruling in the case based on their interpretation of the law and their own personal judgment. A judge is expected to conduct the trial impartially and, typically, in an open court. The powers, functions, method of appointment, discipline, and training of judges vary widely across different jurisdictions. In some jurisdictions, the judge's powers may be shared with a jury. In inquisitorial systems of criminal investigation, a judge might also be an examining magistrate. The presiding judge ensures that all court proceedings are lawful and orderly. Powers and functions The ultimate task of a judge is to settle a legal dispute in a final and publicly lawful manner in agreement with substantial p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assignment (law)
An assignment is a legal term used in the context of the law of contract and of property. In both instances, assignment is the process e whereby a person, the ''assignor'', transfers rights or benefits to another, the ''assignee''.For the assignment of claim seTrans-Lex.org/ref> An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee. The right or benefit being assigned may be a gift (such as a waiver) or it may be paid for with a contractual consideration such as money. The rights may be vested or contingent,. and may include an equitable interest. Mortgages and loans are relatively straightforward and amenable to assignment. An assignor may assign rights, such as a mortgage note issued by a third party borrower, and this would require the latter to make repayments to the assignee. A related concept of assignment is novation wherein, by agreement with all parties, one contracting party is replaced by a new party. While novatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Billiards
Cue sports are a wide variety of games of skill played with a cue, which is used to strike billiard balls and thereby cause them to move around a cloth-covered table bounded by elastic bumpers known as . There are three major subdivisions of games within cue sports: *Carom billiards, played on tables without , typically 10 feet in length, including straight rail, balkline, one-cushion carom, three-cushion billiards, artistic billiards, and four-ball *Pool, played on six-pocket tables of 7-, 8-, 9-, or 10-foot length, including among others eight-ball (the world's most widely played cue sport), nine-ball (the dominant professional game), ten-ball, straight pool (the formerly dominant pro game), one-pocket, and bank pool *Snooker, English billiards, and Russian pyramid, played on a large, six-pocket table (dimensions just under 12 ft by 6 ft), all of which are classified separately from pool based on distinct development histories, player culture, rules, and termin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profanity
Profanity, also known as cursing, cussing, swearing, bad language, foul language, obscenities, expletives or vulgarism, is a socially offensive use of language. Accordingly, profanity is language use that is sometimes deemed impolite, rude, indecent, or culturally offensive; in certain religions, it constitutes sin. It can show a debasement of someone or something, or be considered an expression of strong feeling towards something. Some words may also be used as intensifiers. In its older, more literal sense, "profanity" refers to a lack of respect for things that are held to be sacred, which implies anything inspiring or deserving of reverence, as well as behaviour showing similar disrespect or causing religious offense. Etymology The term ''profane'' originates from classical Latin , literally "before (outside) the temple", meaning 'outside' and meaning 'temple' or 'sanctuary'. The term ''profane'' carried the meaning of either "desecrating what is holy" or "with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tobacco
Tobacco is the common name of several plants in the genus '' Nicotiana'' of the family Solanaceae, and the general term for any product prepared from the cured leaves of these plants. More than 70 species of tobacco are known, but the chief commercial crop is ''N. tabacum''. The more potent variant ''N. rustica'' is also used in some countries. Dried tobacco leaves are mainly used for smoking in cigarettes and cigars, as well as pipes and shishas. They can also be consumed as snuff, chewing tobacco, dipping tobacco, and snus. Tobacco contains the highly addictive stimulant alkaloid nicotine as well as harmala alkaloids. Tobacco use is a cause or risk factor for many deadly diseases, especially those affecting the heart, liver, and lungs, as well as many cancers. In 2008, the World Health Organization named tobacco use as the world's single greatest preventable cause of death. Etymology The English word ''tobacco'' originates from the Spanish word "tabaco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alcohol (drug)
Alcohol, sometimes referred to by the chemical name ''ethanol'', is a depressant, depressant drug that is the active ingredient in alcoholic drink, drinks such as beer, wine, and distilled spirits (hard liquor). It is one of the oldest and most commonly consumed recreational drugs, causing the characteristic effects of alcohol intoxication ("drunkenness"). Among other effects, alcohol produces happiness and euphoria, anxiolytic, decreased anxiety, increased sociability, sedation, impairment of cognitive, memory, motor control, motor, and sense, sensory function, and generalized depression of central nervous system (CNS) function. Ethanol is only one of several types of Alcohol (chemistry), alcohol, but it is the only type of alcohol that is found in alcoholic beverages or commonly used for recreational purposes; other alcohols such as methanol and isopropyl alcohol are significantly more toxicity, toxic. A mild, brief exposure to isopropanol, being only moderately more toxic tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defendant
In court proceedings, a defendant is a person or object who is the party either accused of committing a crime in criminal prosecution or against whom some type of civil relief is being sought in a civil case. Terminology varies from one jurisdiction to another. In Scots law, the terms "accused" or "panel" are used instead in criminal proceedings and "defender" in civil proceedings. Another term in use is "respondent". Criminal defendants In a criminal trial, a defendant is a person accused ( charged) of committing an offense (a crime; an act defined as punishable under criminal law). The other party to a criminal trial is usually a public prosecutor, but in some jurisdictions, private prosecutions are allowed. Criminal defendants are often taken into custody by police and brought before a court under an arrest warrant. Criminal defendants are usually obliged to post bail before being released from custody. For serious cases, such as murder, bail may be refused. Defendants must ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
