Act has several meanings in legal terminology. In general, it means the action that is most typical in given setting. 1. Legislative act: An act can refer to a law passed by a legislative body, such as a parliament or congress. For example, the Public Procurement Act is a piece of legislation that sets forth the legal rules pertaining to purchases by public bodies. This is a source of law passed by the national legislative body that govern the behavior of individuals and organizations within a jurisdiction. 2. Civil Act: In this...
difference between on the one hand and one one hand Both of them are well-known phrases. The phrase "on the one hand" is used in contracts in contrast to "on the other hand" in the initial provisions, when the parties are presetned and contrasted to each other. "On one hand" is a colloquial phrase used in everyday conversation to present a topic, without necessarily contrasting to the opposing item....
Difference between joint tenancy and tenancy in common There are various forms of joint ownership, including joint tenancy and tenancy in common, which are different in their legal nature. First of all, please note that although these forms of tenure are technically called "tenancy", they have noting to do with the type of relationship known in contemporary law as landlord -tenant relationship. The term "tenancy" is rooted in medieval traditions, where the distriction between freehold and leasehold was less definite complex than what...
Difference between agree and consent Agree to do something is a legal or contractual context is generally used to assume an obligation: "the contractor agrees to perform the work in good and workmanlike quality" Consent, on the other hand, is an ackonwledgement that the other person will do something and the subject will tolerate it. The Seller consents to the registration of Buyer's title of ownership to the property in the Land Register. If the term "agree" is used, the action will be performed by the person who agreed,...
Legal owner At first sight, the meaning of this term is obvious, but a closer look reveals some possible confusion, which requires explanation to avoid misunderstanding. By definition, legal owner is the owner of a property recognized by the laws, having the ultimate control over the property. The legal owner has legal title of ownership to the property. Legal owner of property As outlined above, the legal owner is the person who holds legal title to a property, even if such person is not fully in control of the property, because...
Beneficial owner The position of the beneficial owner, by definition, is the one who has certain rights to a property, while the legal title of ownership to the property belongs to someone else. This looks evident but a closer look may disclose some interesting situations in which „beneficiaries” play a role. Beneficiary in property law Beneficiaries or beneficial owners are those who have the right to use a property and obtain the profits thereof. This arrangement generally arises from the so-called tenancy for life (or for a...
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