Tag: LE

Definition of Lee Man’s Act The Banking Companies (Shares) Act, 1867, which renders contracts for the sale of bank shares void unless the numbers oi the shares sold are set out in the contract. A custom of the Stock Exchange to ignore the Act is not binding on an outsider unless he knows of […]

Definition of Legacy A gift of personal property by will. The person to whom the property is given is called the legatee, and the gift or property is called a bequest. The legatee’s title to the legacy is not complete until the executor has assented to it(1) A specific legacy is a bequest of a…

Definition of Leslie V. Shiell ([1914] 3 K. B. 607). Held, that if an infant obtains a loan of money by fraudulently representing that he is of age, he cannot be compelled to refund Browse You might be interested in these references tools: ResourceDescription Leslie V. Shiell in the […]

Definition of Legacy Duty An- ad valorem duty on all legacies of personal property other than leaseholds imposed by the statute 20 Geo. 3, c. 28, s. 1 ; and by the Legacy Duty Act, 1796, s. 1, as amended by subsequent Finance Acts Browse You might be interested in these references tools: […]

Definition of Lester V. Foxcroft ((1701), Colles’ P. C. 108). A certain parol contract had been made for the pulling down by plaintiff of certain houses and the building up of others, and the granting of a lease thereof to him, and he had, in pursuance and part performance of such parol […]

Definition of Legal Estate See Estate Browse You might be interested in these references tools: ResourceDescription Legal Estate in the Dictionaries, Legal Estate in our legal dictionaries, Related topics, Browse topics from the European Encyclopedia of Law, Browse the Legal Thesaurus, Find […]

Definition of Letter Of Credit An authority by one person to another to draw cheques or bills of exchange (with or without a limit as to amount) upon him, with an undertaking to honour the drafts on presentation. An ordinary letter of credit contains the name of the person by whom the drafts […]

Definition of Leaseholds Lands held under a lease for years. They are personal estate, being chattels real. Leaseholds are transferable by assignment and the assignee is liable to the lessor on the covenants in the lease which run with the land so long as he holds under the lease. (See […]

Definition of Legal Fiction See Fiction, Legal Browse You might be interested in these references tools: ResourceDescription Legal Fiction in the Dictionaries, Legal Fiction in our legal dictionaries, Related topics, Browse topics from the European Encyclopedia of Law, Browse the Legal […]