Category: P

a term that means to buy stock and not pay the full price that will be paid later on.

This applies to a product or property that has been leased to a lessee and they now have the option to the purchase the product or property that they were leasing.

A document that has been generated by the buyer in order to purchase products or property. This document allows a transaction to occur and when accepted by the seller becomes a legal binding contract of sale.

The act of speculation or being in a risky position.

A subsidiary company that writes special risk insurance for their parent company or group.

In the civil law. One who is in his or her minority. Particularly, one who is in ward or guardianship.

Lat. In the civil law. Pupillar substitution; the substitution of an heir to a pupil or infant under puberty. The substitution by a father of an heir to his children under his power, disposing of his own estate and theirs, in case the child refused to accept the inheritance, or died before the age of puberty. Ilallifax, Civil Law, b. 2, c. 6, no. 04.

In Scotch law. That period of miuority from the birth to the age of fourteen in males, and twelve in females. Bell.

Lat. In the civil law. A ward or infant under the age of puberty; a person under the authority of a tutor, (q. v.) Pnpillus pati posse non intelligitur. A pupil or infant is not supposed to be able to suffer, i. e., to do an act to his own prej- udice. Dig. 50, 17, 110, 2. PUR 967 PURPART

Va. 375, 48 Am. Rep. 398; McMillan v. Harris, 110 Ga. 72, 35 S. E. 334, 48 L. R. A. 345, 78 Am. St. Rep. 93.