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  • Remainder (law)

    serch.it?q=Remainder-(law)

    In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. Thus, the prior estate must be one that is capable of ending naturally, for example upon the expiration of a term of years or the death of a life tenant. A future interest following a fee simple absolute cannot be a remainder because of the preceding infinite duration. For example, a person, D, gives ("conveys") a piece of real property called Blackacre "to A for life, and then to B and her heirs". A receives a life estate in Blackacre and B holds a remainder, which can become possessory when the prior estate naturally terminates (A's death). However, B cannot claim the property until A's death. There are two types of remainders in property law, vested and contingent. A vested remainder is held by a specific person without any conditions precedent; a contingent remainder is one for which the holder has not been identified, or for which a condition precedent must be satisfied.

  • Examples of feudalism

    serch.it?q=Examples-of-feudalism

    Examples of feudalism are helpful to fully understand feudalism and feudal society. Feudalism was practiced in many different ways, depending on location and time period, thus a high-level encompassing conceptual definition does not always provide a reader with the intimate understanding that detailed historical examples provide.

  • Letter of intent

    serch.it?q=Letter-of-intent

    A typical LOIA letter of intent (LOI or LoI, and sometimes capitalized as Letter of Intent in legal writing, but only when referring to a specific document under discussion) is a document outlining one or more agreements between two or more parties before the agreements are finalized. The concept is similar to a heads of agreement, term sheet or memorandum of understanding. Such outlined agreements may be mergers and acquisitions transaction agreements, joint venture agreements, real property lease agreements and several other categories of agreements that may govern material transactions. LOIs resemble short, written contracts, but are usually in tabular form and not binding on the parties in their entirety. Many LOIs, however, contain provisions that are binding, such as those governing non-disclosure, governing law, exclusivity or covenants to negotiate in good faith. An LOI may sometimes be interpreted by a court of law as binding the parties to it if it too-closely resembles a formal contract and does not contain clear disclaimers.A letter of intent may be presented by one party to another party and subsequently negotiated before execution (or signature).

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