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Encumbrances
An encumbrance is a third party's right to, interest in, or legal liability on property that does not prohibit the property's owner from transferring title (but may diminish its value). Encumbrances can be classified in several ways. They may be financial (for example, liens) or non-financial (for example, easements, private restrictions). Alternatively, they may be divided into those that affect title (for example, lien, legal or equitable charge) or those that affect the use or physical condition of the encumbered property (for example, restrictions, easements, encroachments).Fillmore E. Galay et al., '' Modern Real Estate Practice in Illinois'', 4th edn. (Chicago: Dearborn Real Estate Education, 2001), 107. Encumbrances include security interests, liens, servitudes (for example, easements, wayleaves, real covenants, profits a prendre), leases, restrictions, encroachments, and air and subsurface rights. Jurisdictions Hong Kong In Hong Kong, there is statutory definition of "e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Liability
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government agencies. The claimant is the one who seeks to establish, or prove, liability. Theories of liability Claimants can prove liability through a myriad of different theories, known as theories of liability. Which theories of liability are available in a given case depends on nature of the law in question. For example, in case involving a contractual dispute, one available theory of liability is breach of contract; or in the tort context, negligence, negligence per se, respondeat superior, vicarious liability, strict liability, or intentional conduct are all valid theories of liability. Each theory of liability has certain conditions, or elements, that must be proven by the claimant before liability will be established. For example, the theo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Hong Kong
The law of the Hong Kong Special Administrative Region has its foundation in the English common law system, inherited from being a former British colony and dependent territory. There are several sources of law, the primary ones being statutes enacted by the Legislative Council of Hong Kong and case law made by decisions of the courts of Hong Kong. Since the handover in 1997, the constitutional framework is provided by the Hong Kong Basic Law, which is a piece of National Law of the People's Republic of China and has, practically, constitutional status in Hong Kong. The principle of ‘ one country, two systems’ was enshrined in Article 5 of the Basic Law until at least 2047, which contrasts the ‘socialist system and policies’ and ‘the previous capitalist system and way of life’. The Basic Law provides that the common law system shall be maintained. Some commentators described the theoretically hybrid system of civil law and common law as unique, although there ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Law Legal Terminology
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (also called cooperative property). Property that jointly belongs to more than one party may be possessed or controlled thereby in very similar or very distinct ways, whether simply or complexly, whether equally or unequally. However, there is an expectation that each party's will (rather discretion) with rega ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law Legal Terminology
Common may refer to: Places * Common, a townland in County Tyrone, Northern Ireland * Boston Common, a central public park in Boston, Massachusetts * Cambridge Common, common land area in Cambridge, Massachusetts * Clapham Common, originally common land, now a park in London, UK * Common Moss, a townland in County Tyrone, Northern Ireland * Lexington Common, a common land area in Lexington, Massachusetts * Salem Common Historic District, a common land area in Salem, Massachusetts People * Common (rapper) (born 1972), American hip hop artist, actor, and poet * Andrew Ainslie Common (born 1841), English amateur astronomer * Andrew Common (born 1889), British shipping director * John Common, American songwriter, musician and singer * Thomas Common (born 1850), Scottish translator and literary critic Arts, entertainment, and media * ''Common'' (film), a 2014 BBC One film, written by Jimmy McGovern, on the UK's Joint Enterprise Law * Dol Common, a character in ''The Alchemist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intellectual Property
Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, copyrights, trademarks, and trade secrets. The modern concept of intellectual property developed in England in the 17th and 18th centuries. The term "intellectual property" began to be used in the 19th century, though it was not until the late 20th century that intellectual property became commonplace in the majority of the world's legal systems."property as a common descriptor of the field probably traces to the foundation of the World Intellectual Property Organization (WIPO) by the United Nations." in Mark A. Lemley''Property, Intellectual Property, and Free Riding'', Texas Law Review, 2005, Vol. 83:1031, page 1033, footnote 4. The main purpose of intellectual property law is to encourage the creation of a wide variety of intellectual go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expenditure
An expense is an item requiring an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or other category of costs. For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture, or an automobile is often referred to as an expense. An expense is a cost that is "paid" or " remitted", usually in exchange for something of value. Something that seems to cost a great deal is "expensive". Something that seems to cost little is "inexpensive". "Expenses of the table" are expenses for dining, refreshments, a feast, etc. In accounting, ''expense'' is any specific outflow of cash or other valuable assets from a person or company to another person or company. This outflow is generally one side of a trade for products or services that have equal or better current or future value to the buyer than to the seller. Technically, an expense is an event in which a proprietary stake is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management Accounting
In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions. Definition One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers. In other words, management accounting helps the directors inside an organization to make decisions. This can also be known as Cost Accounting. This is the way toward distinguishing, examining, deciphering and imparting data to supervisors to help accomplish business goals. The information gathered includes all fields of accounting that educates the administration regarding business tasks identifying with the financial expenses and decisions made by the organization. Accountants use plans to measure the overall strategy of operations within the organization. According to the Institute of Management Accountants (IMA), "Management accounting is a profession t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diploma
A diploma is a document awarded by an educational institution (such as a college or university) testifying the recipient has graduated by successfully completing their courses of studies. Historically, it has also referred to a charter or official document of diplomacy. The diploma (as a document certifying a qualification) may also be called a testamur, Latin for "we testify" or "certify" (testari), so called from the word with which the certificate begins; this is commonly used in Australia to refer to the document certifying the award of a degree. Alternatively, this document can simply be referred to as a degree certificate or graduation certificate, or as a parchment. The certificate that a Nobel laureate receives is also called a diploma. The term diploma is also used in some historical contexts, to refer to documents signed by a King affirming a grant or tenure of specified land and its conditions (see Anglo-Saxon Charters and Diplomatics). Usage Australia In Austr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Class (education)
A class in education has a variety of related meanings. It can be the group of students which attends a specific course or lesson at a university, school, or other educational institution, see ''Form (education)''. It can refer to a course itself, for example, a class in Shakespearean drama. It can be the group of students at the same level in an institution: the freshman class; or the group of students which matriculates to or graduates from the institution at the same time: the Class of 2005. The term can be used in a slightly more general context, such as "the graduating class." Some schools have class reunions, where members of a certain graduating class have the opportunity to meet again, and socialize with each other. It can also refer to the classroom, in the building or venue where such a lesson is conducted. In some countries' educational systems (such as Taiwan's), it can refer to a subdivision of the students in an academic department, consisting of a cohort of st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Student
A student is a person enrolled in a school or other educational institution. In the United Kingdom and most commonwealth countries, a "student" attends a secondary school or higher (e.g., college or university); those in primary or elementary schools are "pupils". Africa Nigeria In Nigeria, education is classified into four system known as a 6-3-3-4 system of education. It implies six years in primary school, three years in junior secondary, three years in senior secondary and four years in the university. However, the number of years to be spent in university is mostly determined by the course of study. Some courses have longer study length than others. Those in primary school are often referred to as pupils. Those in university, as well as those in secondary school, are referred to as students. The Nigerian system of education also has other recognized categories like the polytechnics and colleges of education. The Polytechnic gives out National Diploma and Higher Nati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
College
A college (Latin: ''collegium'') is an educational institution or a constituent part of one. A college may be a degree-awarding tertiary educational institution, a part of a collegiate or federal university, an institution offering vocational education, or a secondary school. In most of the world, a college may be a high school or secondary school, a college of further education, a training institution that awards trade qualifications, a higher-education provider that does not have university status (often without its own degree-awarding powers), or a constituent part of a university. In the United States, a college may offer undergraduate programs – either as an independent institution or as the undergraduate program of a university – or it may be a residential college of a university or a community college, referring to (primarily public) higher education institutions that aim to provide affordable and accessible education, usually limited to two-year ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasing
A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. Basically a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use. The term rental agreement can refer to two kinds of leases: * A lease in which the asset is tangible property. Here, the user '' rents'' the asset (e.g. land or goods) ''let out'' or ''rented out'' by the owner (the verb ''to lease'' is less precise because it can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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