most-favored-tenant clause. A commercial-lease provision ensuring that the tenant will be given the benefit of any negotiating concessions given to other tenants. [Cases: Landlord and Tenant 39. C.J.S. Landlord and Tenant § 234.]
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trader. 1. A merchant; a retailer; one who buys goods to sell them at a profit. 2. One who sells goods substantially in the form in which they are bought; one who has not converted them into another form of property by skill and labor. 3. One who, as a member of a stock exchange,
farmoutee (fahrm-ow-tee). An oil-and-gas sublessee to whom the lease is assigned for purposes of drilling a well. — Also termed farmee; farminee. [Cases: Mines and Minerals 74(8). C.J.S. Mines and Minerals §§ 318–319.]
societas leonina (s[schwa]-sI-[schwa]-tas lee-[schwa]-nI-n[schwa]). [Latin “partnership with a lion”] Roman law. An illegal partnership in which a partner shares in only the losses, not the profits; a partnership in which one person takes the lion’s share. — Also termed leonina societas. “But an arrangement by which one party should have all the gain was not
cambium (kam-bee-[schwa]m). [Law Latin “exchange”] Hist. 1. An exchange of money, debt, or land. cambium locale. A contract of exchange in which a person agrees to pay a sum of money at one location in consideration of money received at another location. — Also termed cambium mercantile; cambium trajectitium. cambium reale. An exchange of land.
devisor. One who disposes of property (usu. real property) in a will. [Cases: Wills 1. C.J.S. Wills §§ 1, 3, 174.]
multital (m[schwa]l-ti-t[schwa]l), adj. 1. Of or relating to legal relations that exist among three or more people, esp. a multitude of people. Cf. UNITAL. “Tort and breach of contract are alike breaches of duty, but in the case of tort the pre-existing duty of the wrong-doer was one that was shared by every other member
proclamation of recusants (rek-y[schwa]-z[schwa]nts). Hist. A proclamation by which persons who willfully absented themselves from church could be convicted on nonappearance at the assizes.
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A devise that, under the terms of the will, is designed to displace another devise if one or more specified events occur. — Also termed secondary devise. See younger-generation devise.
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continuation agreement. Partnership. An agreement among the partners that, in the event of dissolution, the business of the partnership can be continued without the necessity of liquidation. Cf. BUY–SELL AGREE-MENT(1). [Cases: Partnership 277. C.J.S. Partnership §§ 318–320.] “Normally, a continuation agreement would have some type of provision for purchasing the interest of a deceased or
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