A custom among commission merchants and brokers (not unlike the clearing-house system) by which they exchange contracts for sale against contracts for purchase, or reciprocally cancel such contracts. adjust differences of price between themselves, and surrender margins. See Ward v. Vosburgh (C. C.) 31 Fed. 12; Williar v. Irwin, 30 Fed. Cas. 38; Pnrdl’idge v. Cutler, OS 111. App. 573; Samuels v. Oliver, 130 111. 73, 22 N. E. 499.
In English practice. A custom observed by serjeants at law, on being called to that degree or order. The rings are given to the judges, and bear certain mottoes, selected by the Serjeant about to take the degree. Brown.
The term “right of redemption,” or “right to redeem,” is familiarly used to describe the estate of the debtor when uuder mortgage, to be sold at auction, in contradistinction to an absolute estate, to be set off by appraisement. It would be more consonant to the legal character of this interest to call it the “debtor’s estate subject to mortgage.” White v. Whitney, 3 Mete. (Mass.) 86.
See fifth amendment.
Legislation allowing people to work anywhere without being forced to join the union as a condition of employment.
A procedure for the recovery of real property after not more than sixty years’ adverse possession; the highest writ in the law, sometimes called, to distinguish it from others of the droitural class, the “writ of right proper.” Abolished by 3 & 4 Wm. IV. c. 27. 3 Steph. Comm. 392.
The ability to switch collateral with the same minimum value and marketability.
a state law in some states that forbids unions from insisting that worker’s join a union in order to work.
The legal right given to the last tenant who is still living after a joint tenant has died. They retain absolute ownership of the property.
These are the heirs who are appointed to inherit an estate when an ancestor dies without a will.