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Judgment Note. A note in the usual form, with the Liquidated Damages. Damages, the amount of addition of the power to confess judgment if not paid. which is fixed or ascertained.
Jurisdiction. The authority by which judicial offi- Liability. Debt or claim against a person. cers take cognizance of and decide causes.
License. Legal permission to sell goods or to do
certain things. Landlord. A proprietor of lands occupied by an- Liquidate. To pay off, as debts; to settle or adjust other, which latter party is termed the tenant.
accounts. Lapse. A forfeiture of the right of presentation to a Lighterage. A charge for conveying goods to or church by the neglect of the patron to present. The from a vessel in a harbor. word is also applied where a testamentary gift falls by Limit. A set figure, at which one's trade is to be the eleath of its object in the lifetime of the testator. made or closed.
Larceny. The wrongful and unlawful taking and Liquidation. When employed by speculators, this carrying away by one person of the personal goods of term signifies the selling out of property previously another, with the felonious intention of converting bought or contracted for. The expression liquidation them to his own use.
by longs," is in contradistinction to covering by shorts." Law. This word signifies generally an inflexible rule In a market where both processes are extensively carof action. The law of England is composed of written ried on, it is called "evening up." laws or statutes, and unwritten laws, or the customs of Loan. To deliver to another for temporary use; the the realm. The latter is also termed the common law, thing lent.
Law of Nations. A system of rules or principles Long. . One who has property bought in anticipation deduced from the law of nature, and intended for the of a rise in price. Hence, for a trader to be " ' long " of regulation of the mutual intercourse of nations.
stocks or grain presupposes him to be a “bull." Also Leading Question. A question put or framed in useil adjectively. such a form as to suggest the answer sought to be Long Market. A market that is overbought, the obtained. Such a question is not allowed to be put to a volume of open contracts to buy property for future witness, except on cross-examination.
delivery being in dangerous excess of the proba deLease. A conveyance or demise of lands of tene- mand. ments for life, or years, or at will, but always for a less Lunatic. One who has had understanding, but, by term than the party conveying has in the premises. grief, disease, or other accident, has lost the use of his
* Lease and Release. The form of conveyance, until reason generally, though he may have lucid intervals. recently commonly used for conveying land; but a lease, commonly called a lease for a year, is no longer Magna Charta. The great charter of English libnecessary the release alone being now as effectual as a erties granted by, or rather extorted from, King John, Jease and release were formerly.
at Runnymede, between Windsor and Staines, on the Leasehold. Lands held on lease, which (however 15th of June, 1215, and afterwards confirmed by Henry long the term) are considered as chattels real, and go to III. the next of kin, and not to the heir, on the death of the Maihem or Mayhem. The violently depriving anowner intestate.
other of the use of such of his members as may render Legacy. A gift or bequest of money, goods, or other him less able, in fighting, either to defend himself or to personal property by will. The person to whom it is annoy his adversary. given is styled the legatee; and, if the gift is of the Malice Prepense. Malice aforethought; i. e., delibresidue, after payment of debts and legacies, he is then erate, predetermined malice. styled the residuary legatee.
Mandamus. A writ commanding the completion or Lessor and Lessee. The person who grants a lease restitution of some right, or the performance of a duty. is called the lessor, the party to whom it is granted, the Manor. A territorial domain, held partly by the lord lessee, and the person to whom either of them assigns, and partly by his tenants; it must have continued from the assignee.
time immemorial, and have annexed to it a Court Letters of Administration. The instrument granted Baron, with at least two suitors. by the Probate Court under which administrators de- Manslaughter. The unlawful killing of another, but rive their title to administer the goods and chattels of without malice. an estate.
Manumission. The making a bondman free. Letters (or Power) of Attorney. A writing, under Marque and Reprisal (Letters of). Commissions seal, empowering another person to do any act instea.1 granted to individuals to fit out privateers in time of of the person granting the letter. It may be either war; not used in the late war, and abandoned by all the general or special; the attorney represents his principal great powers at the Congress of Paris, 1856. in the matters prescribed by the letter until it be re- Master of the Rolls. An assistant of the Lord voked.
Chancellor, who hears and decides the cases assigned to Letters of License. An instrument whereby credit him, at his own court in the Rolls Yard. He holds his ors grant to their debtor time for the payment of his office by patent for life. debts, and bind themselves not to molest him until that Maturity. Bills, or notes, when due, are said to be at time has expired.
their maturity. Levy. The seizing of goods or chattels by a sheriff Maxims in Law. Certain proverbial axioms, which under an execution is called a levy.
form part of the general custom or common law of the Ledger. Book of accounts.
land. As, "No man is bound to criminate himself.” Lettors of Credit. A letter authorizing the holder Conditions against law are void.” “It is fraud to to receive money on account of the writer.
conceal fraud," etc., etc. Legal Debts. Debts that are recoverable in a court Malfeasance. An act which one has no right to do, of common law.
Mandatory. One to whom business is intrusted or Legal Tender. That which the law authorizes to be charge given. tendered in payment of debts. Strictly speaking, it is Manifest. A list of articles comprising a vessel's the exact amount of the debt in current funds. It is cargo. not a legal tender to demand change.
Manufacture. The process of converting raw maLetter of Advice. A letter of information concern- terial into articles of use and sale. ing a shipment of goods or of the drawing of a draft. Margin. A sum of money deposited with a broker,
Libel. A malicious defamation, expresseil cither in in stock transactions, to protect him against loss by the printing or writing, or by signs, pictures, etc., tending depreciation of stocks held by him for another party. either to blacken the memory of one who is dead, or the Also the difference between the value of securities dereputation of one who is alive, and thereby exposing posited as collateral and the amount loaned upon them. him to public hatred, contempt, or ridicule.
Marine. Relating to the sea. Lien. A qualitied right which a person has in or to Maritime Law. Law relating to harbors, ships, and a thing in his possession, arising from a claim upon the seamen. owner. Liens are of two kinds, particular or general. Mart. A place of public sale; a market.
Limited Liability. The limitation of the liability of Maximum. The highest figure. shareholders in a company to the amount unpaid upon Merger. The sinking of a smaller estate into a their shares, introduced by recent Acts, and applicable greater, whereby the former is utterly extinguished and to all companies registered thereunder: such compa- nestroyed. It takes place when two estates meet tonies are bound to use the word “ Limited” in their title gether, without any intermediate estate between them, after the word " Company."
to both of which estates the same individual is enUneal Descent. That which goes from father to titled in one and the same right -- as where a tenant for from son to grandson, and so on.
life afterwards acquires the fee simple.
Mesne-Process. Commonly used to describe the Non Feasance. The non-performance of an act that first process in an action, as where a party used to be should be done. arrested on mesne-process, as distinguished from an Note. An obligation without a seal; a written promarrest on a final judgment.
ise to pay Mercantile Law. Law relating to business trans- Nominal. Existing in name only. actions.
Nuisance. Anything which unlawfully annoys or Mercantile Agency: A concern which procures in- does damage to another. Nuisances may be either pubformation relating to the financial standing and credit lic or private. of merchants for the use of others, to whom said mer- Nuncupative Will. An oral will before a sufficient chant may apply for credit.
number of witnesses, and afterwards reduced to writMisdemeanor. Anindictable offense, which, though ing - now abolished, except as to soldiers and sailors. criminal, does not amount to felony.
Nunc Pro Tunc. Literally, now for then; and is Misprislon. A neglect, oversight, or contempt; as, often so used in legal proceedings. for example, misprision of treason is a negligence in not revealing treason.
Oath. An appeal to God as a witness of the truth of Minimum. The lowest figure.
what is affirmed or denied in evidence, in the presence Mint. The place where money is coined.
of a judge, magistrate, or other officer authorized to Misfeasance. Doing in an improper manner, by administer oaths. which another receives an injury.
Obligation. That which legally binds a party to perMitigation. Lessening the amount of a judgment, form a duty. penalty, or punishment.
Official Assignees. Officers of the Court of BankMoot Point. An obscure point of law not definitely ruptcy, one of whom is allotted to each bankrupt's settled; and therefore open for discussion.
estate. He acts with the assignees appointed by the Mortgage. A conveyance of lands by way of secu- creditors in the administration of the estate ; but his rity, for the repayment of a sum of money borrowed, or especial duty is to keep the assets of the estate, and reowing.
ceive and pay all money on account of it. Mortmain. Lands held by corporations are said to Onus Probandi. The burden of proof. It is a legal be held in mort main.
principle that the issue in an action must be provedly Motion. An occasional application to the court, to the party who states an affirmative ; not by the party obtain some rule or order in the progress of a cause. who states a negative. The burden of proof, therefore,
Money. Current coin and circulating medium. is on the former party.
Money Broker. A broker who deals in money or On Call. When money is loaned “on call,” it is unexchanges.
derstood that it must be returned the day it is called Monopoly. The sole power of vending goods. for, before the close of banking hours, and without preMortgagee. The person to whom the conveyance is vious notice. made.
Open Policy. A policy upon which amounts yet to Mortgagor. One who makes the mortgage.
be ascertained and insured, may be entered at different Municipal Law. That which pertains solely to the times. citizens of a particular state, city, or province.
Option. Property bought or sold at the call or deMuniments. Deeds, evidences, and writings in gen- mand of the buyer or seller as may be specified; a coneral.
ditional contract. Murder. Unlawfully killing any person, with malice Ostensible Partner. A person whose name appears aforethought, either express or implied by law.
to the world as a partner in a firm. Although such a Mutiny Act. An Act annually passed to punish person may not have any interest in the partnership, he mutiny and desertion, and for the better regulation of is liable for its debts and engagements. the army.
Outlawry. The act or process by which a person is
excluded from, or deprived of, the benefit of the laws, Naturalization. The making a foreigner a lawful attended with a forfeiture of his goods to the Crown. subject of the state.
Outlawed. Term applied to a debt or note which has Negotiable Instruments. Those instruments which run beyond the time when its payment can be enforced
by law. confer on the holders the legal right to sue for the money or property thereby secured, and which by delivery by legal proof.
Overt Act. An open act, capable of being manifested pass such money or property from man to man - as Overdraw. To issue a check for more than the conbills of exchange, bills of lading.
cern's deposit. Next Friend. The party in whose name an infant or Overdue. Remaining unpaid after maturity. feme-covert brings an action or suit.
Overissue. An issuing as of stock, beyond or in exNegotiable. That may be transferred by indorse-cess of the capital stock. ment and delivery, or by delivery alone.
Oversold. The reverse of overbought. Negotiate. To transact business or treat with an- Owe. To be indebted to, or bound to pay. other respecting trade or treaty.
Qyer and Terminer. A commission directed to the Net. Clear of all charges and deductions.
judges and others, by virtue whereof they have power Net Proceeds. The sum left after deducting com- to hear and determine treasons, felonies, etc. mission or discount, etc.
0 Yes. A corruption of the French oyez, hear ye! Negotiable Paper. Notes, drafts, or other written the term is used by a public crier to enjoin silence and obligations, which may be bought and sold.
attention. Net Cash. A terın applied to a bill of goods to be paid without any allowance or discount, and without Panel. A schedule or slip of parchment, containing reference to time, but by common custom understood to the names of such jurors as have been returned by the be thirty days, unless otherwise specified.
sheriff to serve on trials. Nisi Prius. A term applied to those courts in which Paraphernalia. Things to which a wife is entitled civil causes are tried before a judge and jury.
over and above her dower, consisting of wearing apNolle Prosequi. An acknowledgment by the plain- parel and ornaments suitable to her rank and station in tiff that he will not further prosecute his suit, as to the life. The husband may (with the exception of his whole or a part of the cause of action.
wife's wearing apparel) dispose of them in his lifetime, Non Assumpsit. He has not promised. A plea by but not by will. On his death they belong to the wife which a defendant denies his liability in an action of absolutely. assumpsit.
Parol. Word of mouth, verbal. Non Pros. When the plaintiff neglects to take any Particeps Criminis. À participator in the crime. step within the prescribed time, the defendant may Partition. The dividing of lands held by joint tenmove for a judgment against him, which is called judg- ant, coparceners, or tenants in common, into two disment of non pros.
tinct portions. Nonsuit. A renunciation of a suit by a plaintiff, after Pawn. A delivery of goods and chattels, to be re which he may still commence another action for the tained until a debt is discharged. same cause, which he could not do if a verdict goes Par. Equal value; when market value equals face against him.
value. Notary Public. A person whose business it is to Partnership. Company; union of two or more in note and protest bills of exchange, and who also attests business. deeds and writings, to make them authentic in another Pawnbroker. One who lends money on a pledge or country,
deposit of goods.
Payee. The party to whom payment is to be made. the solemn declaration of a public notary of the disPayor. One who pays or is bound to pay.
honor of a bill. Paper Profits. Profits on contracts not yet closed, Proviso. A condition inserted in a deed, on the perand consequently not yet in hand.
formance whereof the validity of the deed frequently Par of Exchange.. Equivalent value of the cur- depends. rency of a country in that of another.
Premises. Things previously mentioned; houses, Partial Payment. Part payment of a debt.
lands, etc. Partner. Ån associate in business.
Premium. The sum paid for insurance; the excess Passing a Dividend. When the directors of a cor- of value above par. poration vote against declaring a dividend it is said to Price. Value set or demanded; current value. be“ passed.". This is nearly always the cause of great Price Current. A table of the current price of merweakness in the stock.
chandise, stocks, bills of exchange, etc. Penance. An ecclesiastical punishment, varied ac- Prima Facie. On the first view of the matter. cording to the nature of the offense, in which the peni- Primage. A charge imposed in addition to the tent is supposed to make satisfaction to the Church for freight. the scandal he has given by his evil example.
Principal. An employer; the head of a commercial Perjury. The offense committed by a person who, house; the sum loaned, upon which interest is paid. having been sworn to tell the truth in a matter pending Preferred Stock. Shares of a corporation having in a court of justice, willfully and deliberately takes å preference over ordinary shares, but not over bonded or false oath.
mortgaged indebtedness. Preferred stock is usually Perpetuity.. A rule that land cannot be limited be-issued for borrowed capital. Earnings, if any are left yond a life or lives in being and twenty-one years after- after paying interest on the bonded debt, go next to pay wards, and the period of gestation, if it actually exists, a dividend on the preferred stock, and only what then is commonly called the rule against perpetuities.
remains is applied to the common stock. Personal Estate, or Personalty. Movable things, Privileges. “ Puts" and " Calls.” A “put” is the whether alive or dead, as distinguished from land, or privilege or option, which a person purchases, of “putimmovables, which are termed real estate.
ting," i. e., delivering, property or contracts for propPetitioning Creditor. A creditor who petitions the erty to the seller of such privilege, at a named price Court of Bankruptcy to make his debtor a bankrupt. within a stipulated time one or more days, weeks, or
Pin Money. An allowance set apart by the husband / months. “ Puts” are good (from the buyer's standfor the personal expenses of a wife, i. e., for her dress point) when the market declines below the "put” price and pocket money.
within the time covered by the privilege contract. The Pit Traders. Brokers who are in the pit daily trad- buyer can then buy the property at the cheaper figure ing for their own account.
and “put" it to the person who sold him the risk, his Plaintiff. The complainant in an action or suit. profit being the difference between the "put” price and
Plea. The defendant's answer to the plaintiff's dec- the quotation at which the property is bought with laration.
which to make the delivery. Å "call" is the reverse of Pleader. A lawyer, who draws the pleadings in a “put,"the purchaser of a "call” acquiring the right actions.
to " call” upon the seller of the privilege for property, Pleadings. The mutual allegations or statements or contracts for property, at a named price within a which are made by the plaintiff and defendant in an stipulated time. ** Calls" are good when the market action.
advances above the call price, and the buyer of such Pledge. A pawn; a deposit as security.
privilege is enabled to sell at a profit the property Posse Comitatus. The power of the county. This is called" from the seller of the privilege. The seller of includes the aid and attendance of all men, except privileges occupies, in a sense, the position of an inecclesiastics and inferior persons, above the age of fif-surance or guaranty company. He sells market risks as teen, within the county; which force may be used in an insurance company sells tire, life, or accident risks. cases of riot or rebellion, or where any resistance is Trading in privileges is illegal' in some states, notably made to the execution of justice.
in Illinois. Prices paid for privileges are usually $1.00 Postea. The verdict of the jury drawn up in due per thousand bushels for a single day, $1.25 for å week form, and entered on the back of the record.
or ten days, and from $2.50 to $7.50 for a month or durPound Breach. The indictable offense of breaking ing the life of a distant option. open a pound for the purpose of taking cattle therefrom. Promoters' Shares. Those issued by corporations
Policy of Insurance. Contract between the insurer in payment of the services of promoters in the organiand the insured.
zation of companies. Portage. The price of carrying; cost paid by the Pyramiding. Enlarging one's operations by the captain for running his vessel.
use of profits which one has made. For instance, if Point. On stock exchanges “a point" is understood one buys 5,000 bushels and the market advances 2 cents, to mean one dollar a share. A decline in Missouri he sells, realizes $100 profit, and with this in addition to Pacific from twenty-five to tu nty-two would be a de- his additional margin he buys 10,000 bushels of wheat, cline of three points.
which he closes on a further advance and makes a still Pool. The stock and money contributed by a syndi- larger investment. On steadily advancing markets with cate to control the price of a given surety or commodity. moderate reactions this plan makes large profits, but Also refers to the individuals composing the pool. must not be followed too far and liberal margins should Post Date. To date after the real day.
be kept. Pre-emption. The right of first buying. Prescription. A title acquired by use and time, and
Quarantine. Signifies 40 days. It is applied to the allowed by law.
period which persons coming from infected countries Presentment. The notice taken by a grand jury or
are obliged to wait on board ship before they are allowed inquest of any offense, etc., from their own knowledge similar period during which a widow, entitled to dower,
to land. But in law it more strictly applies to the or observation.
Primogeniture. The right of the eldest son to in- sion after his death, whilst she awaits the assignment herit his ancestor's estate, to the exclusion of the younger of her dower. son, where the ancestor has died intestate.
Quash. To annul or cancel. Privilege. An exemption from the general rules of
Quasi Contract. An implied contract. law. It is of two kinds — real, attaching to any place, Quid Pro Quo. Giving one thing for another, being or personal, attaching to persons, as ambassadors, etc. the mutual consideration in contracts. Probate. The copy
of a will made out on parchment Quo Warranto. An ancient writ still in use, with a certificate of its having been proved.
directed against any person or corporation, who usurps Process. A general term applied to formal judicial any office, franchise, or liberty, calling upon them to proceedings.
show by what authority they support their claim. Prohibition. A writ issuing out of the superior Quotations. A statement of the prices of articles of courts directing the judge of an inferior court not to merchandise, given for the information of correspondproceed further in a suit.
ents. Promissory Note. A written promise by which one Rape. The carnal knowledge of a female who is person engages or promises to pay a certain sum of above the age of ten years, against her will; or of a money to another.
girl under the age of ten years, although with her perPro Rata. In proportion.
mission. The age of consent varies. Protest. On bills of exchange. A protest means Rate. The proportion or standard.
Real Estate or Realty. The term applied to land, Scire Facias. A judicial writ founded on matter of in contradistinction to personalty.
record, and 118ed for various purposes, as, for inRecital. The formal statement of some matter of stance, to enforce against a shareholder a judgment fact in any deed or writing. It usually commences with against a Joint Stock Company, which it is unable to the formal word “Whereas."
satisfy. Recognizance. An obligation of record which a Scrivener. One intrusted with other men's moneys man enters into, with condition to do some particular to put out for them, and for which he charges a comact; as, to appear at the assizes, to keep the peace, to pay mission, or bonus. a debt, or the like.
Scrip. Dividends issued by a stock company payable Record. An authentic testimony, in writing, con- in stock. Scrip dividends are simply an increase of the tained in rolls of parchment, and preserved in a court of capital of the company, as the stock issued to meet them recoril.
is added to the capital, and in its turn is entitled to Re-Entry, proviso for. A stipulation in a lease future dividends. that, on non-payment of rent or non-performance of the Scalper. One who trades in options continually, and, covenants, the leasor may re-enter.
by reading the temper of the market at the moment, Registrars. Officers having custody of a Registry, tries to get a profit out of the minor fluctuations; also such as the registrars of births, marriages, and deaths. applied to irregular railroad ticket brokers. The term
Rejoinder. The answer of a defendant in an action is coming into general use in other lines. to the plaintiff's replication.
Scalping. Buying and selling on small fluctuations Release. A form of conveyance. Also, an acquit of the market. Taking a small profit or a small loss. tance under seal of a debt or other obligation.
Seizin. Possession of a freehold estate. Seizin in Remainder. A vested or contingent estate or inter- deed is when actual possession is obtained. Seizin in est in land, limited to take effect and come into pos- law is a right to lands of which actual possession has session on the determination of a prior estate created not been obtained. at the same time.
Separate Estate. Real or personal property settled Rent. The annual return made by the tenant to his upon a married woman, and which she may dispose of landlord, which may be either money, labor, or provi. as if she were a single woman. sions.
Sequestration. Used in several cases; but most freReplevin. An action to try the validity of a distress. quently as signifying an execution for debt against The things distrained are re-delivered to the tenant on a beneficed clergyman, in which case the debt is satissecurity or pledges given by him to try the right. fied out of the tithes and other profits of the benefice.
Reprieve. A suspension of the execution of sentence In Scotland a sequestration is nearly equivalent to our of death on a criminal.
term “ bankruptcy.". Rescue. A resistance against lawful authority, as, Set-off. A mode of defense, whereby a defenrlant sets for instance, the violently taking away a man who is uns up a demand of his own to counterbalance the plaintiff's der legal arrest.
claim either wholly or in part. Residuary Devisee. The person to whom a testator Seaworthy. Fit for a voyage; in a proper condition devises the remainder of his lands, not otherwise dis- to venture at sea. posed of.
Secondarily. Applied to the indorser of a note or Residuary Legatee. A legatee to whom is be- the drawer of a bill, signifying that he is only condigueathed the residue or remainder of a testator's per- tionally liable, or liable if the maker and drawee fail. sonal estate, after payment of all legacies, claims, and Seigniorage. The difference between the commerdemands.
cial value of bullion in coin and the face value of the Residue or Residuary Estate. The portion of a coin itself. testator's estate not specifically disposed of.
Shipment. Goods ; act of shipping. Retainer. A fee given to counsel to secure his serv- Short Market. A market that is oversold ; the rolices. It may be either general or special. The former ume of open contracts to deliver property being in dansecures the services of the counsel to the party giving gerous excess of available supply. it in all matters; the latter only in one cause or matter. Short Selling. The process of selling property for The see in the former cause is tive guineas, in the latter future delivery in the expectation of being able to one guinea.
obtain the property cheaper before the maturity of conReturn of a Writ. The certificate of the sheriff tract, or of being able to close ont the contract at a made to the court of what he has done towards the ex- profit without the actual delivery of the property. ecution of any writ directed to him.
Simony. The corrupt presentation of anyone to an Reversal. "The making a judgment void, in con- ecclesiastical benefice, for money, gift, or reward. sequence of some error in the same.
Simple Contract. An agreement entered into verReversion. The residue of an estate lef: in the bally or by writing not under seal. grantor, and returning to him or his heirs, after the Sight. The time of presenting a bill to the drawee. grant is determined.
Signature. The peculiar style in which a person Receipt. A writing acknowledging the taking of signs his name. money or goods.
Sinking Fund. A fund created by a government or Refund. To repay or pay back.
corporation for the extinction of its indebtedness, by Resources. Pecuniary ineans; effects; property. Respondential Bond. A pledge of a cargo at sea.
the gradual purchase of its outstanding obligations, Retai). To sell in small quantities.
and the application of the interest sa ved on these Revenue. Tax; ineome; rents; customs and duties. obligations thus redeemed to further purchases. Revocation. The recall of power or authority con- business house, but whose name does not appear in the
One who invests his capital in a ferred, as the revocation of an agency.
Receiver's Certifioates. Those issned by a receiver firm. His liability is limited to the extent of his con for the purpose of raising money for a company in the tribution, except in cases where he fails to make the jurisdiction of a court. When approved by the court proper publication of his connection with the concern. and issued, they are a first lien upon the net earnings silver dollars deposited in the treasury, in denominaSpeculation. Buying commodities not needed for pay a debt, which, if refused, may be afterwards pleaded use, or selling commodities not owned, with the hope of in bar to an action. making profits by fluctuations in the values of these Tenement. Property held by a tenant; it comprises commodíties. A speculator buys wheat because he lands, houses, and every species of real property which hopes to sell itat a better price, but not because he needs may be holden. it for use. He selle sugar stock because he believes he Tenure. The system of holding lands in subordinacan buy it at a cheaper price later, and make the differ- tion to some superiors. ence.
Silver Certificates. Those issued against standard and property of the company.
Registered Bonds. Thai class of Government Bonds tions of $1, $2, $6, and $10, and higher denominations. which are payable to the order of some individual or
Not legal tender but receivable for public dues. corporation, whose name is registered as the owner
Slander. The malicious defamation of a ran by thereof in the government offices at Washington. Such word of mouth, analogous to libel, which is slander by bonds, if stolen or lost, cannot be realized upon.
writing. Remittance Value, as bills or money transmitted Solicitor. One who solicits; a lawyer or advocate in to another.
a court of chancery. Renewal of a Note. Extending the time of its pay- Solvency. Ability to pay all debts. ment by giving a new note in exchange for it.
Special Pleading. When the pleadings in an action Rule. An order made by the court at the instance are not in the ordinary form, but are of a more complex of one of the parties in an action. It may either be a character, they are termed special pleadings. rule absolute, or merely a rule nisi, or to show cause. Specific Performance. *A remedy in equity, to com
Rules of Court. The rules framed by the judges for pel the performance of a contract according to its regulating the practice of the different courts of law. terms, instead of proceeding at law to recover damages
merely. Salvage. An allowance made for saving ships or Specialty. A writing sealed and delivered, contain goods from enemies, or wreck, or loss at sea.
ing some agreement.
Testamentary Guardian. A person appointed by a Statutes. The written laws of the kingdom are of father in his will to be the guardian of his child. two kinds, public or private; the former applies to all Testator or Testatrix. The maker of a will. statutes which affect the public generally, and of which Teste. The clause at the bottom of a writ beginning the judges take cognizance without being specially with the word “witness," is so called. pleaded. The latter relates to the private rights of in- Tenants in Common. Persons holding lands and dividual bodies, as, for instance, the various acts for the tenements by several and distinct titles, and not by a management of railway and other companies are private joint title. acts.
Title. The evidence of the right which a person has Stoppage in Transitu. Goods sold on credit to a to the possession of property. person, since becoming insolvent or bankrupt, may be Time Draft. A draft maturing at a future specified seized by the vendor at any time before their actualand time. complete delivery to the vendee. This seizure is called Tonnage. Weight of a ship's load; capacity of a vesstoppage in transitu; it is often a nice and difficult sel. Also a duty on ships estimated per ton. question to determine when the transit has ended and Traverse. A plea which denies the truth of some the purchaser's possession begun.
part of the plaintiff's declaration in an action. stipend. Settled pay for services; daily, monthly, or Treasure Trove. Any money, etc., found hidden annual salary.
under the earth the owner thereof being unknown. Stipulation. An agreement or contract.
Trespass. Any wrong or damage which is done by Stocks. Shares in joint stock companies, and notes one man to another, whether it relates to his person or on the government.
property, but it usually signifies a wrongful entry on Stock Broker or Jobber. One who speculates in another's premises. stocks.
Trial. The formal method of examining and adjuStatute of Limitations. An assigned period within dicating upon a question of fact in a court of law. which legal action must be commenced to enforce pay- Trover. The form of action used to try a disputed ment.
question of property in goods or chattels, in which the Statement. Usually a list of property, or resources plaintiff can only recover their estimated value, and not and liabilities.
the goods or chattels themselves. Statistics. A collection of facts respecting any par- True Bill. The words indorsed upon an indictment ticular thing.
by a grand jury, when satisfied that the charge against Sterling Exchange. A bill of exchange drawn on the offender is made out. London. This is the most general current exchange, Trust. A trust exists where a party, called the and is good for the payment of debts anywhere. Our cestui que trust, has a right in equity to the beneficial sbippers of cotton, grain, flour, and merchandise re- enjoyment of property, the legal ownership of which is ceive bills of lading with draft attached, which they sell vested in another, who is hence called a trustee. to foreign exchange houses here, who issue their bank- Transact. To perform any act of business; to maners' bills against these commercial bills.
age. Stock. Certificates issued by a corporation certifying Transfer. To convey; to sell or alienate title. that the person in whose name they are written and Treasury. A place where public money is kept. stand registered on the corporation books is entitled to Trustee. One to whom some special trust is asshare in the company's profits, to vote, etc.
signed. Stock, Assessable. That is liable to assessment. Trado. A company of persons engaged in the same
Stock, Cumulative. One on which a corporation occupation; business of buying and selling. agrees to pay past due dividends before declaring a Trade Discount. A deduction of a certain rate per dividend on stocks coming after it in the distribution cent. from the face of a bill made by wholesale houses of net earnings.
and others in trade. Stock Exchange. An incorporated body of brokers, Trade-Mark. , A distinguishing mark used by a who buy and sell stocks, bonds, and other values. manufacturer on his goods or labels.
Stock, Non-Assessable. Stock carrying with it no Trunk Lines. Through lines of railroad from the liabilities.
Atlantic seaboard to Chicago or more western points. Sabornation of Perjury. The offense of procuring Trust. A combination of manufacturers or dealers another to take a false oath.
for the purpose of limiting production and advancing Subpæna. A writ used for the purpose of compel- prices for their own benefit. ling witnesses to attend and give evidence.
Sufferance. A tenant at, is a person who acquired Umpire. A third person chosen to decide a matter the possession of lands by right, and holds over after his in dispute left to arbitration, in case the arbitrators right is determined.
should not agree. Suit. Proceedings in equity are usually termed suits, Under-Lease. A lease granted by one who is himas distinguished from the proceedings at common law, self only a lessee of the premises under-let. which are termed actions.
Under-Lessee. The person to whoin an under-leasu Summons, Writ of. The process used for the com- is granted. mencement of all action in the courts of law.
Unliquidated Damages. Damages not fixed or asSupersedeas. A command to stay some ordinary pro- certained, and which require therefore to be estimated ceedings at law, on good cause shown.
by a jury. Sue. To prosecute in law.
Uncurrent. Not passing, in common payment, as Surety: Security against loss; a person bound for pounds, shillings, and pence in the United States, the faithful performance of a contract by another.
Underwriter. An insurer; so called because he unSuspend. To stop payment temporarily.
derwrites his name to the conditions of the policy. Syndicate. A number of capitalists who unite to dis- Use. A right to the beneficial enjoyment of land pose of a loan, or to conduct a great financial enterprise. nominally vested in another,
Usury. The extortion of unlawful gain; the taking Tacit. That which is understood; implied.
more for the use of money than is allowed by law; but Tare. An allowance for weight' of box, case, bag, the usury laws in this country are now abolished, any cask, etc., containing merchandise.
rate of interest therefore may now be lawfully taken. Tarix. A list of prices; duties on imports and ex- Usage of Trade. Custom, or the frequent repetiports.
tion of the same act in business transactions. Tax. A rate or sum of money imposed on persons or Usance. A fixed time on bills of exchange; business property for public use.
habit generally acted upon from force of custom. Tenancy. The holding of property under tenure.
Tenant. One who holds lands of another as a tenant Value Received. The words usually, but unnecesfor life, for years, in tail, etc.; it is a word extensively sarily, appearing in bills of exchange and promissory used in legal phraseology.
notes. Tender. A legal tender is an unconditional offer to Valid. Of binding force; strong; effectual.