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Tontine Trust
A tontine () is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries. Tontines enable subscribers to share the risk of living a long life by combining features of a group Annuity (financial contracts), annuity with a kind of mortality lottery. Each subscriber pays a sum into a trust and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the final member, the trust scheme is usually Liquidation, wound up. Tontines are still common in France. They can be issued by European insurers under the Directive 2002/83/EC of the European Parliament. The Pan-European Pension Regulation passed by the European Commission in 2019 also contains provisions that specif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis XIV
LouisXIV (Louis-Dieudonné; 5 September 16381 September 1715), also known as Louis the Great () or the Sun King (), was King of France from 1643 until his death in 1715. His verified reign of 72 years and 110 days is the List of longest-reigning monarchs, longest of any monarch in history. An emblem of the Absolutism (European history), age of absolutism in Europe, Louis XIV's legacy includes French colonial empire, French colonial expansion, the conclusion of the Thirty Years' War involving the Habsburgs, and a controlling influence on the Académie royale de peinture et de sculpture, style of fine arts and architecture in France, including the transformation of the Palace of Versailles into a center of royal power and politics. Louis XIV's pageantry and opulence helped define the French Baroque architecture, French Baroque style of art and architecture and promoted his image as absolute ruler of France in the early modern period. Louis XIV began his personal rule of France ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richmond Bridge Act 1773
Richmond Bridge is an 18th-century stone arch bridge that crosses the River Thames at Richmond, London, Richmond, connecting the two halves of the present-day London Borough of Richmond upon Thames. It was designed by James Paine (architect), James Paine and Kenton Couse. The bridge, which is listed building, Grade I listed, was built between 1774 and 1777, as a replacement for a ferry crossing which connected Richmond town centre on the east bank with its neighbouring district of East Twickenham to the west. Its construction was privately funded by a tontine scheme, for which toll bridge, tolls were charged until 1859. Because the river meanders from its general west to east direction, flowing from southeast to northwest in this part of London, what would otherwise be known as the north and south banks are often referred to as the "Middlesex" (Twickenham) and "Surrey" (Richmond) banks respectively, named after the Historic counties of England, historic counties to which each ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
River Thames
The River Thames ( ), known alternatively in parts as the The Isis, River Isis, is a river that flows through southern England including London. At , it is the longest river entirely in England and the Longest rivers of the United Kingdom, second-longest in the United Kingdom, after the River Severn. The river rises at Thames Head in Gloucestershire and flows into the North Sea near Tilbury, Essex and Gravesend, Kent, via the Thames Estuary. From the west, it flows through Oxford (where it is sometimes called the Isis), Reading, Berkshire, Reading, Henley-on-Thames and Windsor, Berkshire, Windsor. The Thames also drains the whole of Greater London. The lower Reach (geography), reaches of the river are called the Tideway, derived from its long Tidal river, tidal reach up to Teddington Lock. Its tidal section includes most of its London stretch and has a rise and fall of . From Oxford to the estuary, the Thames drops by . Running through some of the drier parts of mainland Bri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richmond Bridge, London
Richmond Bridge is an 18th-century stone arch bridge that crosses the River Thames at Richmond, connecting the two halves of the present-day London Borough of Richmond upon Thames. It was designed by James Paine and Kenton Couse. The bridge, which is Grade I listed, was built between 1774 and 1777, as a replacement for a ferry crossing which connected Richmond town centre on the east bank with its neighbouring district of East Twickenham to the west. Its construction was privately funded by a tontine scheme, for which tolls were charged until 1859. Because the river meanders from its general west to east direction, flowing from southeast to northwest in this part of London, what would otherwise be known as the north and south banks are often referred to as the "Middlesex" (Twickenham) and "Surrey" (Richmond) banks respectively, named after the historic counties to which each side once belonged. The bridge was widened and slightly flattened in 1937–40, but otherwise stil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bath, Somerset
Bath (Received Pronunciation, RP: , ) is a city in Somerset, England, known for and named after its Roman Baths (Bath), Roman-built baths. At the 2021 census, the population was 94,092. Bath is in the valley of the River Avon, Bristol, River Avon, west of London and southeast of Bristol. The city became a UNESCO World Heritage Site in 1987, and was later added to the transnational World Heritage Site known as the "Great Spa Towns of Europe" in 2021. Bath is also the largest city and settlement in Somerset. The city became a spa with the Latin name ' ("the waters of Sulis") 60 AD when the Romans built Roman Baths (Bath), baths and a temple in the valley of the River Avon, although List of geothermal springs in the United Kingdom, hot springs were known even before then. Bath Abbey was founded in the 7th century and became a religious centre; the building was rebuilt in the 12th and 16th centuries. In the 17th century, claims were made for the curative properties of water ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bath Assembly Rooms
The Bath Assembly Rooms, designed by John Wood, the Younger in 1769, are a set of assembly rooms located in the heart of the World Heritage Site, World Heritage City of Bath, Somerset, Bath in England which are now open to the public as a visitor attraction. They are designated as a Grade I Listed building (United Kingdom), listed building. During the Georgian era Bath became fashionable, and the architects John Wood, the Elder, and his son laid out new areas of housing for residents and visitors. Assembly rooms had been built early in the 18th century, but a new venue for Ball (dance), balls, concerts and gambling was envisaged in the area between Queen Square (Bath), Queen Square, The Circus, Bath, The Circus and the Royal Crescent. Robert Adam submitted a proposal that was rejected as too expensive. John Wood, the Younger raised funding through a tontine, and construction started in 1769. The new or upper assembly rooms opened with a grand ball in 1771 and became the hub of fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Works
Public works are a broad category of infrastructure projects, financed and procured by a government body for recreational, employment, and health and safety uses in the greater community. They include public buildings ( municipal buildings, schools, and hospitals), transport infrastructure ( roads, railroads, bridges, pipelines, canals, ports, and airports), public spaces (public squares, parks, and beaches), public services ( water supply and treatment, sewage treatment, electrical grid, and dams), environmental protection ( drinking water protection, soil erosion reduction, wildlife habitat preservation, preservation and restoration of forests and wetlands) and other, usually long-term, physical assets and facilities. Though often interchangeable with public infrastructure and public capital, public works does not necessarily carry an economic component, thereby being a broader term. Construction may be undertaken either by directly employed labour or by a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tontine Coffee House
The Tontine Coffee House was a coffeehouse in Manhattan, New York City, established in early 1793. Situated at 82 Wall Street, on the north-west corner of Water Street,Nathans, p. 133 it was built by a group of stockbrokers to serve as a meeting place for trade and correspondence. It was organized as a tontine, a type of investment plan, and funded by the sale of 203 shares of £200 each. The May 17, 1792, creation of the Buttonwood Agreement, which bound its signatories to trade only with each other, effectively gave rise to a new organization of tradespeople.Sobel, p. 21 History In its prime, the Tontine was among New York City's busiest centers for the buying and selling of stocks and other wares, for business dealings and discussion, and for political transaction.Antol, p. 53 Having had a dual function as a combination club and a meeting room, the coffee house played host to auctions, banquets, and balls, among others. After hours, gambling and securities dealings were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foss V Harbottle
''Foss v Harbottle'' (1843) 2 Hare 46167 ER 189is a leading English precedent in corporate law. In any action in which a wrong is alleged to have been done to a company, the proper claimant is the company itself. This is known as "the proper plaintiff rule", and the several important exceptions that have been developed are often described as "exceptions to the rule in ''Foss v Harbottle''". Amongst these is the " derivative action", which allows a minority shareholder to bring a claim on behalf of the company. This applies in situations of "wrongdoer control" and is, in reality, the only true exception to the rule. The rule in ''Foss v Harbottle'' is best seen as the starting point for minority shareholder remedies. The rule has now largely been partly codified and displaced in the United Kingdom by the Companies Act 2006 sections 260–263, setting out a statutory derivative claim. Facts Richard Foss and Edward Starkie Turton were two minority shareholders in the "Victoria Par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Penny Policy
A penny is a coin (: pennies) or a unit of currency (: pence) in various countries. Borrowed from the Carolingian denarius (hence its former abbreviation d.), it is usually the smallest denomination within a currency system. At present, it is the formal name of the British penny ( p) and the '' de facto'' name of the American one-cent coin (abbr. ¢). ''Penny'' is also the informal name of the cent unit of account in Canada, although the production of one-cent coins was ended in 2012. The name ''penny'' is also used in reference to various historical currencies, also derived from the Carolingian system, such as the French denier and the German pfennig. It may also be informally used to refer to any similar smallest-denomination coin, such as the euro cent or Chinese fen. The Carolingian penny was originally a 0.940-fine silver coin, weighing pound. It was adopted by Offa of Mercia and other English kings and remained the principal currency in Europe over t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gaming The System
The letter of the law and the spirit of the law are two possible ways to regard rules or laws. To obey the "letter of the law" is to follow the literal reading of the words of the law, whereas following the "spirit of the law" is to follow the intention of why the law was enacted. Although it is usual to follow both the letter and the spirit, the two are commonly referenced when they are in opposition. "Law" originally referred to legislative statute, but in the idiom may refer to any kind of rule. Intentionally following the letter of the law but not the spirit may be accomplished by exploiting technicalities, loopholes, and ambiguous language. Legal research Violating the perceived intention (spirit) of the law has been found to affect people's judgment of culpability more so than the letter of the law, such that; # a person can violate the letter of the law (but not the spirit) and not incur culpability # a person can violate the spirit of the law and incur culpabil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
