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Poinding
In Scots law, poinding () is that Diligence (Scots law), 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. Plough 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 (Scots law), 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 usi ... [...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 Courts of Scotland, Scottish courts. The law of diligence is part of the law of Court action, actions in Scots law, Scots private law. Accordingly, it is within the devolved competence of the Scottish Parliament. Diligence is usually executed by Sheriff officer, Sheriff court officers but may also be carried out by Messenger-at-arms, 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 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 Protect ... [...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 The Scottish Socialist Party (SSP) is a Left-wing politics, left-wing political party campaigning for the establishment of an Scottish independence, independent Socialism, socialist Scottish Scottish republicanism, republic. The party was fou ... 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 Arrangem ... [...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 List of country legal systems, legal system of Scotland. It is a hybrid or mixed legal system containing Civil law (legal system), civil law and common law elements, that traces its roots to a number of different historical sources. Together with English law and Northern Irish 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 Scots law recognises four sources of law: legislation, legal precedent, specific academic writings, and custom. Legislation affecting Scotland and Scots law is passed by the Scottish Parliament on all areas of devolved responsibility, and the United Kingdom Parliament on reserved matters. Some legislation passed by the pre-1707 Parliament of Scotland is still also valid. History of Scots law, 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Movable Property
Personal 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, and today cheptel (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 ... [...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 subs ... [...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 ... [...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 has 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 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 after that held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) periodically 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 leaseholder can r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scots Law Legal Terminology
Scots may refer to: People and cultures * Scots language * Scottish people * Scoti, a Latin name for the Gaels Other uses * SCOTS, abbreviation for Royal Regiment of Scotland * Scottish Corpus of Texts and Speech (SCOTS), a linguistic resource * Southern Culture on the Skids (SCOTS), an American rock band * Scot's Lo-Cost, a grocery store owned by Weis Markets See also * 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), Baltic pine, or European red 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-gr ..., a species of tree {{disambig Language and nationality disambiguation pages ... [...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 * ''The United'' (film), an unreleased Arabic-language 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 * "United (Who We Are)", a song by XO-IQ, featured in the television ser ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
