dry exchange
Something that pretends to pass on both sides of a transaction, but passes on only one side.
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dry exchange
dry exchange. Something that pretends to pass on both sides of a transaction, but passes on only one side. “Dry exchange … seems to be a subtil term invented to disguise usury, in which something is pretended to pass on both sides, whereas in truth nothing passes on the one side.” Termes de la Ley
dry hole agreement
dry-hole agreement. Oil & gas. A support agreement in which the contributing party agrees to make a cash contribution to the drilling party in exchange for geological or drilling information if the well drilled is unproductive. See SUPPORT AGREEMENT.
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socage
socage (sok-ij). Hist. A type of lay tenure in which a tenant held lands in exchange for providing the lord husbandry-related (rather than military) service. • Socage, the great residuary tenure, was any free tenure that did not fall within the definition of knight-service, serjeanty, or frankalmoin. Cf. KNIGHT-SERVICE; VILLEINAGE. “If they [the peasant’s duties]