Legal Term Dictionary

Search our free database of thousands of legal terms. The easiest-to-read, most user-friendly guide to legal terms.This dictionary is from the early 20th century and is not to be construed as legal advice.

    Of binding force. A deed, will, or other instrument, which has received all the formalities required by law, is said to be valid
    This term is used to signify legal sufficiency, in contradistinction to mere regularity. "An official sale, an order, judgment, or decree may be regular,—the whole practice in reference to its entry may be cor-rect,—but still Invalid, for reasons going be-hind the regularity of its forms." Sharpleigh v. Surdam, 1 Flip. More...
    L. Lat The value of every ecclesiastical benefice and preferment, according to which the first fruits and tenths are collected and paid It is commonly called the "king's hooks," by which the clergy are at present rated; 2 Steph. Comm. 533; Wharton.
    Lat Value of the marriage. In feudal law, the guardian in chivalry had the right of tendering to his infant ward a suitable match, without "dis-paragement," (inequality,) which, if the in-fants refused, they forfeited the value of the marriage (valor maritagii) to their guardian; that is, so much as a More...
    The distinction between a good and a valuable consideration is that the former consists of blood, or of natural love and affection; as when a man grants an estate to a near rela-tion from motives of generosity, prudence, and natural duty; and the latter consists of such a consideration as More...
    The act of ascertaining the worth of a thing. The estimated worth of a thing. See Lowenstein v. Schiffer, 38 App. Div. 178, 56 N. Y. Supp. 674; State v. Central Pac. R. Co., 7 Nev. 104; Sergeant v. Dwyer, 44 Minn. 300, 46 N. W. 444.
    In English law. A list of all the ratable hereditaments in a parish, showing the names of the occupier, the owner, the property, the extent of the property, the gross estimated rental, and the ratable value; prepared by the overseers of each- parish in a union under section 14 of More...
    The utility of an object in satisfying, directly or indirectly, the needs or desires of human beings, called by economists "value In use;" or its worth consisting in the power1 of purchasing other objects, called •*value In exchange." Also the estimated or appraised worth of any object of property, calculated More...
    A policy is called "valued," when the parties, having agreed upon the value of the interest insured, in order to save the necessity of further proof have inserted the valuation in the policy, in the nature of liquidated damages. 1 Duer, Ins. 97.
    A person whose business is to appraise or set a value upon property.
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