INTEREST, discount. The right that a man has to movable property, and especially in a future term. It is a word of lesser efficiency and extension than successions, although, in the understanding of law, an interest extends to the property, rights and titles which a man possesses in or outside the country, so that by granting all his interests in land, a return as well as the expenses simply pass. Co. Litt. 345. There are two types of fundamental interests: legal and conventional. Legal interest is required by applicable state law as the highest legal interest that can be agreed or charged by law. The conventional interest rate is an interest rate set and agreed by the parties themselves without outside intervention. He must respect the interest rate provided by law in order to avoid criminal prosecution against the lender for violating usury laws. Verb. [`ˈɪntəˌrɛst`] arouse the curiosity of; Engage the interest of.
1. Name, singular or mass The amount of the offer of the privilege is the amount on which the interest is calculated. While interest is primarily used to describe anything of interest, it is also used in some legal contexts. If you have an interest in a business, it means you own part of it. Interest is also the word used to describe money calculated or given as part of a debt. If a bank lends you $10,000, you will have to repay the $10,000 plus interest. If the interest rate is 5% per year, you will owe $500. Interest is most often used to describe something you like, appreciate, or think is useful. Perhaps you are interested in African literature or follow the news with interest. Name. [`ˈɪntəˌrɛst`] (law) a legal right or interest in something; a financial interest in something. Britannica.com: Encyclopedia articles on interest, contracts.
The right of ownership that a person has over a thing is commonly referred to as an insurable interest. It is not easy to give a precise definition of insurable interest. 1 ridge. 480; 1 animal. R. 163; 12 Wend. 507 16 Wend. 385; 16 Selection. 397; 13 Mass. 61, 96; 3 days, 108; 1 Wash. C. C.
Rep. 409. 2. Trade policy and the various complications. The rights which different persons may have in the same case require that not only those who have absolute ownership of ships and goods, but also those who have qualified ownership, be free to secure them. For example, if a vessel is mortgaged after the mortgage has become absolute, the owner of the legal estate has an insurable interest and the mortgage borrower also has an insurable interest because of his equity. 2 R. T. 188 1 Burr. 489; 13 Mass 96; 10 Selection. 40 and see 1 T. R.
745; Swamp. Ins. h. t.; 6 Meeson & Welshy, page 224. 3. A man may not only insure his own life for the benefit of his heirs or creditors and assign the benefit of this insurance to other persons who have an interest in his life in one way or another, but also insure the life of another person who may be of interest to him. Swamp. Index, h. t.; Park, Ins. Index, h. t.; 1 Bell`s Com. 629, 5th edition; 9 Ost, r.
72. (n.1) any partial or total right to own or use property, including an easement to transfer neighbouring property, the right to drill for oil, a means of acquiring ownership upon the occurrence of an event, or full title. Although one mainly refers to real estate, one may have an interest in a business, bank account or any other item. 2) the financial amount (money) paid by another person for the use of a person`s money, such as a loan or debt, in a savings account with a bank, on a certificate of deposit, promissory note or the amount due under a judgment. Interest is usually indicated in writing at the time of the loan. There are variable interest rates, especially for savings accounts, that depend on funding from the Federal Reserve or other banks and are controlled by prevailing interest rates for those funds. The maximum interest rates for personal loans are regulated by law. Demanding more than this penalty is usury, the sanction of which may be the inability of a creditor to recover in court.
The interest rates charged by credit institutions are not as limited. The maximum legal interest often granted by courts for judgments is determined by state law. Simple interest is the annual rate applied to a loan, and compound interest includes interest on interest during the year. and (3) participation in transactions, activities or with a person sufficient to cast doubt on whether a witness objectively undermines his or her credibility. and (4) engage in business, activities or with a person who has sufficient connection to give a person “standing” (the right based on interest in the outcome of the suit or application) to bring legal action on a particular matter or to act on behalf of others. 1. I hope Jaws has brought sharks to public attention at a time when we urgently need to reassess our concern for the environment. – Peter Benchley 2. Let`s face it: professing a deep interest in cinema, the absolutely dominant global art form of the last century, is like professing an interest in air at this point.
Passion is beautiful. The scholarship is admirable. But it`s like that moment when good manners turn into meaningless labels. – David Rakoff 3. I don`t need anyone with a warm body. He may be fat or overweight and have a belly. It`s really about style, substance and humor, interest, curiosity and being really smart. – Kate Walsh INTEREST, MARITIME.
Maritime interest is the profit of money lent on the fund or respondentia, which may be greater than simple interest because the lender`s capital is at risk. There is no legal limit to the amount that can be charged for maritime interests. It is usually determined by agreement between the parties. 2. French authors use a variety of terms to distinguish according to the nature of the case. They call this interest when it is set that it will be paid monthly or at other specified periods. It is a premium if there is a gross amount to pay at the end of the trip, and here risk is the main objective they have in mind. If the sum is a percentage of the money loaned, they call it an exchange and examine it in light of money borrowed from one place to be repaid to another, with a difference in the amount between the money borrowed and the money paid resulting from the difference in time and place.