One which is undertaken upon a consideration and for which a payment or recompense is to be made to the bailee, or from which he is to derive some advantage. Prince v. Alabama State Fair, 10G Ala. 340, 17 South. 449, 28 L. R. A. 710.
Search Results for: consideration
LOSS
In insnrance. The injury or damage sustained by the insured in consequence of the happening of one or more of the accidents or misfortunes against which the insurer, in consideration of the premium, has undertaken to indemnify the insured. 1 Bouv. Inst no. 1215.
LOBBYING
“Lobbying” Is defined to be any personal solicitation of a member of a legislative body during a session thereof, by private interview, or letter or message, or other means and appliances not addressed solely to the judgment, to favor or oppose, or to vote for or against, any bill, resolution, report, or claim pending, or… Continue Reading LOBBYING
LETTER OF INTEREST (LOI)
1. In Contracting, this is a pre-qualifying of respondents for stated services, based on stated resources and experience. Done before sending out requests for proposals (RFPs). Contractors or vendors provide a written response to an advertisements. 2. In Financing, this only states a lender’s consideration of this financing. Response to a request for funding in… Continue Reading LETTER OF INTEREST (LOI)
LEGAL
1. Conforming to the law; according to law; required or permitted by law; not forbidden or discountenanced by law; good and effectual in law. 2. Proper or sufficient to be recognized by the law ; cognizable in the courts; competent or adequate to fulfill the requirements of the law. 3. Cognizable in courts of law,… Continue Reading LEGAL
LEASE
A conveyance of lands or tenements to a person for life, for a term of years, Êat will, in consideration of a return of rent Êsome other recompense. The person who so conveys such lands or tenements is termed the Òlessor,Ó and the person to whom they are conveyed, the Òlessee;Ó and when the lessor… Continue Reading LEASE
JURO
In Spanish law. A certain perpetual pension, granted by the king ou the public reveuues, aud more especially on the salt-works, by favor, either in consideration of meritorious services, or in return for money loaned the government, or obtained by it through forced loans. Escriche.
INSURANCE
A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the ÒinsurerÓ or Òunderwriter;Ó the other, the ÒinsuredÓ or Òassured;Ó the agreed consideration, the Òpremium;Ó the written contract, a Òpolicy;Ó the events… Continue Reading INSURANCE
INFRA DIGNITATEM CURI
Beneath the dignity of the court; unworthy of the consideration of the court. Where a bill Iu equity is brought upon a matter too trilling to deserve the attention of the court, it is demurrable, as being infra dignitatem curia:.
INDIRECT TAX
a tax that is not levied on the value of property but on another consideration.