Search Results for: TRANSFER PAYMENT

transfer payment

transfer payment. (usu. pl.) A governmental payment to a person who has neither provided goods or services nor invested money in exchange for the payment. • Examples include unemployment compensation and welfare payments. [Cases: United States 82(1). C.J.S. United States §§ 155, 158.]

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funds transfer

funds transfer. A payment of money from one person or entity to another; esp., the process by which payment is made through a series of transactions between computerized banking systems, beginning with an originator’s payment order and ending when a final payment order is received by the beneficiary’s bank. • Commercial or wholesale funds transfers

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codicillus

codicillus (kod-[schwa]-sil-[schwa]s), n. [Latin “little document”] Roman law. 1. An informal document instructing an heir to carry out a certain performance, usu. the payment of money or the transfer of property to a third person. • During the reign of Augustus (27 B.C.–A.D. 14), directives (fideicommissa) contained in codicilli became legally binding. See FIDEICOMMISSUM. 2.

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brevi manu

brevi manu (bree-vIman-yoo), adv. [Latin “with a short hand”] Roman & civil law. 1. Directly; by the shortest route. 2. Without a legal warrant; on one’s own authority. • In Roman law, the term referred to the contractual transfer (traditio) of ownership of an item to one who already had physical control of the item.

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dation en paiement

dation en paiement (day-sh[schwa]n in pay-m[schwa]nt or da-syon ahn pay-mon), n. [French “a giving in payment”] Civil law. 1. An exchange of something instead of money to satisfy a debt. See ACCORD AND SATISFACTION. [Cases: Accord and Satisfaction 13. C.J.S. Accord and Satisfaction §§ 25–27, 29.] 2. Louisiana law. A contract in which the obligor

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