dispatch money. Maritime law. An amount paid by a shipowner to a vessel’s charterer if the vessel’s cargo is unloaded at the port sooner than provided for in the agreement between the charterer and the shipowner. — Also termed dispatch. Cf. contract demurrage under DEMURRAGE. [Cases: Shipping 49(6). C.J.S. Shipping § 108.] “Some charters contain […]
negotiable, adj. 1. (Of a written instrument) capable of being transferred by delivery or indorsement when the transferee takes the instrument for value, in good faith, and without notice of conflicting title claims or defenses. [Cases: Bills and Notes 144. C.J.S. Bills and Notes; Letters of Credit§§ 127, 129–130, 143.] 2. (Of a deal, agreement,
corrupt, adj. 1. Archaic. (Of a person) subject to corruption of blood. “[T]here are divers offences made Treason by Act of Parliament, whereof, though a Man be Attaint, yet his Blood, by Provisoes therein, is not corrupt, nor shall he forfeit any thing….” Thomas Blount, Nomo-Lexicon: A Law-Dictionary (1670). 2. Having an unlawful or depraved
maim, n. Archaic. The type of injury required for the commission of mayhem; esp., serious injury to part of a person’s body that is necessary for fighting. — Also termed maihem; maihemium. See MAYHEM. [Cases: Mayhem 1. C.J.S. Mayhem §§ 2–6.] — maim, vb. “Maihem or maim is where by the wrongful act of another
protective committee. A group of security holders or preferred stockholders appointed to protect the interests of their group when the corporation is liquidated or reorganized.
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fresh start. Bankruptcy. The favorable financial status obtained by a debtor who receives a release from personal liability on prepetition debts or who reorganizes debt obligations through the confirmation and completion of a bankruptcy plan. [Cases: Bankruptcy 2363. 1.]
boot, n. 1. Tax. Supplemental money or property subject to tax in an otherwise tax-free exchange. [Cases: Internal Revenue 3679. C.J.S. Internal Revenue §§ 406–407.] 2. Corporations. In a corporate reorganization, anything received other than the stock or securities of a controlled corporation. 3. Commercial law. Cash or other consideration used to balance an otherwise
United States Postal Service. An independent establishment in the executive branch responsible for operating post offices, safeguarding and delivering mail, and enforcing the laws affecting the integrity and security of the mail. • It was created by the Postal Reorganization Act of 1970.39 USCA §§ 101 et seq. — Abbr. USPS.
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continual claim. Hist. A formal claim to a tract of land made by an out-of-possession owner who is deterred from taking possession by a menace of some type. • The claim — called continual because it had to be renewed an-nually — preserved the claimant’s right to the land. The owner had to make the
catalla (k[schwa]-tal-[schwa]). [Law Latin “chattels”] Hist. 1. CHATTEL. — Also termed catals. “Catals (catalla) alias chatels, cometh of the Normans. For … all movable goods … are called chatels: the contrary whereof is (fief) which we do call fee.” John Cowell, The Interpreter (1607). 2. Cattle used for plowing.