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Poinding
In Scots law, poinding () is that diligence whereby a debtor's property is carried directly to a creditor. This type of diligence has now been abolished after the enactment of the Abolition of Poindings and Warrant Sales Act 2001. There were two types of poinding: *''Personal'' - The taking of movable property (e.g., wagons, livestock; but not property such as a house because it is not movable) belonging to the debtor. Plow cattle and tillage instruments cannot be included in times of labour or tilling, unless the debtor has no other movable property to satisfy the debt. ''Personal poinding'' is founded merely on an obligation to pay, all else aside. A relatively low level of diligence is sufficient to accomplish this (such as letters of horning, or a warrant granted by a sheriff or commissary). *''Real'' - The confiscation of non-movable property (such as land) and the movable property found on it. Every ''debitum fundi'' (a debt using land as collateral) is a foundation for ''re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diligence (Scots Law)
Diligence is a term in Scots Law with no single definition, but is commonly used to describe debt collection and debt recovery proceedings against a debtor by a creditor in Scottish courts. The law of diligence is part of the law of actions in Scots private law. Accordingly, it is within the devolved competence of the Scottish Parliament. Diligence is usually executed by Sheriff Court officers, but may also be carried out by Messengers-at-arms. There are many forms of diligence, largely involving creditors and debtors. The newest form of diligence, ''land attachment'', will be introduced into Scots law when Part 4 of the Bankruptcy and Diligence (Scotland) Act 2007 is brought into force. Definition of Diligence Diligence has no single definition in Scots law, but it is recognised that there were at least four broad forms of 'diligence' proceedings.Scottish Law Commission, ''Report on Diligence and Debtor Protection'', (Scot Law Com No 95), (1985), page 6. These include: * D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abolition Of Poindings And Warrant Sales Act 2001
The Abolition of Poindings and Warrant Sales Act 2001 was an Act of the Scottish Parliament to abolish the previous practice in which a debtor's goods are priced (poinding) in preparation for the enforced sale of the debtor's possessions (warrant sale). The legislation was introduced in 1999 as a member's bill by Tommy Sheridan MSP, the sole member of the Scottish Socialist Party in the Parliament. The original draft of the bill proposed that it would have immediate effect, but this was subsequently amended to delay implementation of the bill until 2002, so that alternative means of debt recovery could be devised. The Scottish Executive eventually proposed the Debt Arrangement and Attachment Bill, which became the Debt Arrangement and Attachment Act 2002 and repealed the Abolition of Poindings and Warrant Sales Act. The Debt Arrangement and Attachment Act was criticised by Sheridan for introducing "a new form of warrant sales". See also * List of Acts of the Scottish Parliamen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multiplepoinding
In Scots law, multiplepoinding, (pronounced as if spelled multiple·pinnding) was a form of action by which conflicting claims to the same fund or property are determined. The action is brought either by the holder or by a claimant in his name. All who have any claims in the fund or property in question are ordered to appear and give in their claims; the court then prefers them according to their respective rights, and the holder of the fund or property in dispute on payment or delivery is absolved from any further claim in regard to it. It corresponds to the process of interpleader in English law. The property or money held by the pursuer in such an action is called the fund 'in medio', because it is, or may be, subject to the claims of all the claimants, and as yet belongs to none of them. It is thus common to them all, and forms the centre or substance of the litigation. (See Trayner's Latin Maxims, under "In Medio") Multiplepoinding literally means double diligence. Poinding ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scots Law
Scots law () is the legal system of Scotland. It is a hybrid or mixed legal system containing civil law and common law elements, that traces its roots to a number of different historical sources. Together with English law and Northern Ireland law, it is one of the three legal systems of the United Kingdom.Stair, General Legal Concepts (Reissue), para. 4 (Online) Retrieved 2011-11-29 Early Scots law before the 12th century consisted of the different legal traditions of the various cultural groups who inhabited the country at the time, the Gaels in most of the country, with the Britons and Anglo-Saxons in some districts south of the Forth and with the Norse in the islands and north of the River Oykel. The introduction of feudalism from the 12th century and the expansion of the Kingdom of Scotland established the modern roots of Scots law, which was gradually influenced by other, especially Anglo-Norman and continental legal traditions. Although there was some indirect Roman la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Movable 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] |
Letters Of Horning
Letters of horning ''(Scots law)'': a document (i.e., letters) issued by civil authorities that publicly denounce a person as an outlaw. The document was issued against persons who had not paid their debts. Historically, the documents would be announced by three blasts of a horn, and the documents themselves came to be known as "letters of horning". A person who was denounced in these documents was described as having been "put to the horn". History Originally in Scotland, imprisonment for debt was enforceable only in certain cases, but a custom gradually grew up of taking the debtor's oath to pay. If the debtor broke his oath, he became liable to the discipline of the Church. The civil power could step in to aid the ecclesiastical, denouncing the debtor as an outlaw, imprisoning his person and confiscating his goods. The method of declaring a person an outlaw was by giving three blasts on a horn and publicly proclaiming the fact; hence the expression "put to the horn". The s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collateral (finance)
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of the lending agreement. The protection that collateral provides generally allows lenders to offer a lower interest rate on loans that have collateral. The reduction in interest rate can be up to several percentage points, depending on the type and value of the collateral. For example, the Annual Percentage Rate (APR) on an unsecured loan is often much higher than on a secured loan or logbook loan. If a borrower defaults on a loan (due to insolvency or another event), that borrower loses the property pledged as collateral, with the lender then becoming the owner of the property. In a typical mortgage loan transaction, for instance, the real estate being acq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasehold Estate
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scots Law Legal Terminology
Scots usually refers to something of, from, or related to Scotland, including: * Scots language, a language of the West Germanic language family native to Scotland * Scots people, a nation and ethnic group native to Scotland * Scoti, a Latin name for the Gaels * SCOTS, abbreviation for Royal Regiment of Scotland * Scottish Corpus of Texts and Speech (SCOTS), a linguistic resource See also * Southern Culture on the Skids (SCOTS), an American rock band * Scot's Lo-Cost, a grocery store owned by Weis Markets * Scotch (other) * Scots Church (other) * Scots College (other) * Scott's (other) * Scottish (other) * Scotts (other) * Pound Scots, historical currency * Scots pine ''Pinus sylvestris'', the Scots pine (UK), Scotch pine (US) or Baltic pine, is a species of tree in the pine family Pinaceae that is native to Eurasia. It can readily be identified by its combination of fairly short, blue-green leaves and orang ..., a speci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Contract Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
