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Profit (real Property)
A profit (short for ''profit-à-prendre'' in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. Indeed, because of the necessity of allowing access to the land so that resources may be gathered, every profit contains an implied easement for the owner of the profit to enter the other party's land for the purpose of collecting the resources permitted by the profit. Creation Like an easement, profits can be created ''expressly'' by an agreement between the property owner and the owner of the profit, or by ''prescription'', where the owner of the profit has made "open and notorious" use of the land for a continuous and uninterrupted statutory period. Types A profit can be ''appurtenant'' (owned by an adjacent landowner, and tied to the u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit
Profit may refer to: Business and law * Profit (accounting), the difference between the purchase price and the costs of bringing to market * Profit (economics), normal profit and economic profit * Profit (real property), a nonpossessory interest in land * Account of profits Account (abbreviated a/c) may refer to: * Account (bookkeeping) * A report * A bank account ** Deposit account ** Personal account ** Sweep account ** Transaction account * User account, the means by which a user can access a computer system * C ..., a type of equitable remedy in law (also known as an accounting) Arts, entertainment, and media * ''Profit'' (magazine), a Canadian business magazine aimed at entrepreneurs * ''Profit'' (TV series), an American TV series starring Adrian Pasdar People * Joe Profit (born 1959), former American football player * Laron Profit (born 1977), professional basketball player * Richard Profit (born 1974), English mountaineer and adventurer * Park "Profit" Joon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Law
English law is the common law list of national legal systems, legal system of England and Wales, comprising mainly English criminal law, criminal law and Civil law (common law), civil law, each branch having its own Courts of England and Wales, courts and Procedural law, procedures. The judiciary is judicial independence, independent, and legal principles like Procedural justice, fairness, equality before the law, and the right to a fair trial are foundational to the system. Principal elements Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Act of Parliament, Acts of Parliament, Statutory Instrument, 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 United Kingdom l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of England
The Parliament of England was the legislature of the Kingdom of England from the 13th century until 1707 when it was replaced by the Parliament of Great Britain. Parliament evolved from the Great Council of England, great council of Lords Spiritual, bishops and Peerages in the United Kingdom, peers that advised the History of the English monarchy, English monarch. Great councils were first called Parliaments during the reign of Henry III of England, Henry III (). By this time, the king required Parliament's consent to levy taxation. Originally a Unicameralism, unicameral body, a Bicameralism, bicameral Parliament emerged when its membership was divided into the House of Lords and House of Commons of England, House of Commons, which included Knight of the shire, knights of the shire and Burgess (title), burgesses. During Henry IV of England, Henry IV's reign, the role of Parliament expanded beyond the determination of taxation policy to include the "redress of grievances", whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute
A statute is a law or formal written enactment of a legislature. Statutes typically declare, command or prohibit something. Statutes are distinguished from court law and unwritten law (also known as common law) in that they are the expressed will of a legislative body, whether that be on the behalf of a country, state or province, county, municipality, or so on. Depending on the legal system, a statute may also be referred to as an "act." Etymology The word appears in use in English as early as the 14th century. "Statute" and earlier English spellings were derived from the Old French words ''statut'', ''estatut'', ''estatu,'' meaning "(royal) promulgation, (legal) statute." These terms were in turn derived from the Late Latin ''statutum,'' meaning "a law, decree." Publication and organization In virtually all countries, newly enacted statutes are published and distributed so that everyone can look up the statutory law. This can be done in the form of a government gazette, whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute Of Westminster I
The Statute of Westminster of 1275 ( 3 Edw. 1), also known as the Statute of Westminster I, codified the existing law in England, into 51 chapters. Chapters 5 (which mandates free elections) and 50 (which provided savings for the crown) are still in force in the United Kingdom and the Australian state of Victoria whilst part of Chapter 1 remains in force in New Zealand. It was repealed in Ireland in 1983. William Stubbs gives a summary of the statute: Though it is a matter of dispute when ' (Law French for "hard and forceful punishment") was first introduced, chapter 3 states that those felons standing mute shall be put in '. History The Statute of Westminster of 1275 was one of two English statutes largely drafted by Robert Burnell and passed during the reign of Edward I. Edward I had returned from the Ninth Crusade on 2 August 1274 and was crowned King of England on 19 August. His first Parliament was summoned for the quinzaine of the Purification on 16 February 1275 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Immemorial
Time immemorial () is a phrase meaning time extending beyond the reach of memory, record, or tradition, indefinitely ancient, "ancient beyond memory or record". The phrase is used in legally significant contexts as well as in common parlance. In law In law, time immemorial denotes "a period of time beyond which legal memory cannot go", and "time out of mind". Most frequently, the phrase "time immemorial" appears as a legal term of art in judicial discussion of common law development and, in the United States, the property rights of Native Americans. English and American common law "Time immemorial" is frequently used to describe the time required for a custom to mature into common law.Kunal M. Parker,Law 'In' and 'As' History: The Common Law in the American Polity, 1790–1900, 1 UC Irvine L. Rev. 587, 594–600 (2011). Medieval historian Richard Barber describes this as "the watershed between a primarily oral culture and a world where writing was paramount". Common law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law primarily developed through judicial decisions rather than statutes. Although common law may incorporate certain statutes, it is largely based on precedent—judicial rulings made in previous similar cases. The presiding judge determines which precedents to apply in deciding each new case. Common law is deeply rooted in Precedent, ''stare decisis'' ("to stand by things decided"), where courts follow precedents established by previous decisions. When a similar case has been resolved, courts typically align their reasoning with the precedent set in that decision. However, in a "case of first impression" with no precedent or clear legislative guidance, judges are empowered to resolve the issue and establish new precedent. The common law, so named because it was common to all the king's courts across England, originated in the practices of the courts of the English kings in the centuries fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wheeldon V Burrows
''Wheeldon v Burrows'' (1879) LR 12 Ch D 31 is an English land law case confirming and governing a means of the implied grant or grants of easements — the implied grant of all continuous and apparent inchoate easements (quasi easements, that is they would be easements if the land were not before transfer in the unity of possession and title) to a transferee of part, unless expressly excluded. The case consolidated one of the three current methods by which an easement can be acquired by implied grant. It was little altered by subsequent case law by 1925 but has been further consolidated by section 62 of the Law of Property Act 1925. Both types of implied grant are widely excluded in agreements by sellers of part and to some extent other transferors of part, so that the retained land can be developed subject to general and local planning law constraints. Facts Mr Tetley owned a piece of land and a workshop in Derby, which had windows overlooking and receiving light from the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Easements In English Law
Easements in English law are certain rights in English land law that a person has over another's land. Rights recognised as easements range from very widespread forms of rights of way, most rights to use service conduits such as telecommunications cables, power supply lines, supply pipes and drains, rights to use communal gardens and rights of light to more strained and novel forms. All types are subject to general rules and constraints. As one of the formalities in English law express, express legal easements must be created by deed. Some classes, types, of easement are heavily constrained — the courts of England and Wales will only uphold these as easements subject to wide-reaching public policy, chiefly property rights interference, tests they have laid down in precedent. Similar tests apply to the implication of easements. If they fail on any of these tests the right claimed may be interpreted as a "mere" licence, typically a right of use revocable at will. Details of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property Act 1925
The Law of Property Act 1925 ( 15 & 16 Geo. 5. c. 20) is an act of the Parliament of the United Kingdom. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The act deals principally with the transfer of freehold or leasehold land by deed. The LPA 1925, as amended, provides the core of English land law, particularly as regards many aspects of freehold land which is itself an important consideration in all other types of interest in land. Background The keynote policy of the act was to reduce the number of legal estates to two – freehold and leasehold – and generally to make the transfer of interests in land easier for purchasers. Other policies were to regulate mortgages and as to leases, to regulate mainly their assignment, and to tackle some of the '' lacunae'', ambiguities and shortcomings in the law of property. Inn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity (law)
In the field of jurisprudence, equity is the particular body of law, developed in the English Court of Chancery, with the general purpose of providing legal remedies for cases wherein the common law is inflexible and cannot fairly resolve the disputed legal matter. Conceptually, equity was part of the historical origins of the system of common law of England, yet is a field of law separate from common law, because equity has its own unique rules and principles, and was administered by courts of equity. Equity exists in domestic law, both in civil law and in common law systems, as well as in international law. The tradition of equity begins in antiquity with the writings of Aristotle (''epieikeia'') and with Roman law ('' aequitas''). Later, in civil law systems, equity was integrated in the legal rules, while in common law systems it became an independent body of law. Equity in common law jurisdictions (general) In jurisdictions following the English common law syste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property (Miscellaneous Provisions) Act 1989
The Law of Property (Miscellaneous Provisions) Act 1989 (c. 34) is a United Kingdom act of Parliament, which laid down a number of significant revisions to English property law. Nature of reforms The Act introduced several distinct reforms: :* The common law rules governing the form and delivery of a deed were abolished, and were replaced by requirements that: :** a deed is valid only when expressed as such, :** it is either signed by an individual in the presence of a witness who attests to it, or at his direction and attested by two witnesses, and :** it is delivered as a deed by him or a person authorised to do so on his behalf. ::Former rules of law which specified that a seal was needed for the valid execution of an instrument as a deed by an individual were abolished by section 1(1)(b). :* Contracts for the sale or other disposition of an interest in land must be made in writing, and they must incorporate all agreed terms in "one document or, where contracts are exchanged ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
