|
Subrogate
Subrogation is the assumption by a third party (such as a second creditor or an insurance company) of another party's legal right to collect debts or damages. It is a legal doctrine whereby one person is entitled to enforce the subsisting or revived rights of another for their own benefit. A right of subrogation typically arises by operation of law, but can also arise by statute or by agreement. Subrogation is an equitable remedy, having first developed in the English Court of Chancery. It is a familiar feature of common law systems. Analogous doctrines exist in civil law jurisdictions. Subrogation is a relatively specialised legal field; entire legal textbooks are devoted to the subject. Doctrine Countries which have inherited the common law system will typically have a doctrine of subrogation, but its doctrinal basis in a particular jurisdiction may vary from that in other jurisdictions, depending upon the extent to which equity remains a distinct body of law in that jurisd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Legal Doctrine
A legal doctrine is a framework, set of rules, Procedural law, procedural steps, or Test (law), test, often established through precedent in the common law, through which judgments can be determined in a given legal case. For example, a doctrine comes about when a judge makes a ruling where a process is outlined and applied, and allows for it to be Case law, equally applied to like cases. When enough judges make use of the process, it may become established as the ''de facto'' method of deciding like situations. Examples Examples of legal doctrines include: See also * Constitutionalism * Constitutional economics * Concept * Rule according to higher law * Legal fiction * Legal precedent * ''Cogitationis poenam nemo patitur'' * ''Ex aequo et bono'' References External links * *Pierre Schlag and Amy J. Griffin, "How to do Things with Legal Doctrine" (University of Chicago Press 2020) * Emerson H. Tiller and Frank B. Cross,What is Legal Doctrine? " ''Northwestern University ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Bill Of Exchange
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings, depending on its use in the application of different laws and depending on countries and contexts. The word "negotiable" refers to transferability, and "Legal instrument, instrument" refers to a document giving legal effect by the virtue of the law. Concept of negotiability William Searle Holdsworth defines the concept of negotiability as follows: #Negotiable instruments are transferable under the following circumstances: they are transferable by delivery where they are made payable to the bearer, they are transferable by delivery and endorsement where they are made payable to order. #Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Insurance Law
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise. History The earliest form of insurance is probably marine insurance, although forms of mutuality (group self-insurance) existed before that. Marine insurance originated with the merchants of the Hanseatic league and the financiers of Lombardy in the 12th and 13th centuries, recorded in the name of Lombard Street in the City of London, the oldest trading insurance market. In those early days, insurance was intrinsically coupled with the expansion of mercantilism, and the exploration (and exploitation) of new sources of gold, silver, spices, furs, and other precious goods - including slaves - from the New World. For these merchant adventurers, insurance was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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] [Amazon] |
Assignment (law)
Assignment is a legal term used in the context of the laws of contract and of property. In both instances, assignment is the process 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 novation re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Quebec Law
Quebec law is unique in Canada because Quebec is the only province in Canada to have a juridical legal system under which private law (including civil) matters are operate by French-heritage civil law. Public law (including criminal law) operate according to Canadian common law. Quebec law is under the shared responsibility of the federal government and the provincial government. According to the Constitution of Canada, these two governments are each responsible for enacting law when it falls under their sphere of competence. As such, the federal government is responsible for criminal law, foreign affairs, commerce, interprovincial transportation, and telecommunications. The provincial government is responsible for property, family law, contract law, natural resources, the administration of justice and several social domains, such as social assistance, healthcare, education. A few areas such as immigration and agriculture have shared jurisdiction. The four classic sources of l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
University Of Chicago Law Review
The ''University of Chicago Law Review'' ( Maroonbook abbreviation: ''U Chi L Rev'') is the flagship law journal published by the University of Chicago Law School. Up until 2020, it utilized a different citation system than most law journals—the Maroonbook rather than the Bluebook. ''At the Bar'', David Margolick, ''New York Times''. It is published quarterly in print and also has an online companion, ''The University of Chicago Law Review Online''. ''The Dialogue''. History The ''Law Review'' was established in 1933.... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Assignee
Assignment is a legal term used in the context of the laws of contract and of property. In both instances, assignment is the process 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 novation requ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Lien
A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the ''lienee'' and the person who has the benefit of the lien is referred to as the ''lienor'' or ''lien holder''. The etymological root is Anglo-French ''lien'' or ''loyen'', meaning "bond", "restraint", from the Latin ''ligamen'', from ''ligare'' "to bind". In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of Mortgage law, mortgage or charge. In the US, a lien characteristically refers to ''Nonpossessory interest in land, nonpossessory'' security interests (see generally: ). In other common-law countries, the term lien refers to a very specific type of security interest, being a passive right to retain (but not sell) property until the debt or other obligation is discharged. In contrast to the usag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Beneficiary (trust)
In trust law, a beneficiary (also known by the Law French terms and trust), is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary will normally be a natural person, but it is perfectly possible to have a company (law), company as the beneficiary of a trust, and this often happens in sophisticated commercial transaction structures. With the exception of charitable trusts, and some specific anomalous purpose trust, non-charitable purpose trusts, all trusts are required to have ascertainable beneficiaries. Generally speaking, there are no strictures as to who may be a beneficiary of a trust; a beneficiary can be a minor, or under a mental disability (in fact many trusts are created specifically for persons with those legal disadvantages). It is also possible to have trusts for unborn children, although the trusts must Vesting, vest within the applicable perpetuity period. Categorization There are various ways in which beneficiaries of tru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Trustee
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, refers to anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another. A trustee can also be a person who is allowed to do certain tasks but not able to gain income.''Black's Law Dictionary, Fifth Edition'' (1979), p. 1357, . Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. A trust can be set up either to benefit particular persons or for any charitable purposes (but not generally for non-charitable purposes): typical examples are a will trust for the testator's children and family, a pension trust (to confer bene ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
