ALLOTMENT NOTE

allotment note.English law. A seaman’s written assignment of a portion of his wages to a wife, parent, grand-parent, or sibling. • These notes are governed by the Merchant Shipping Act of 1970, § 13(1). [Blacks Law 8th]

Read More

ALLOTMENT CERTIFICATE

allotment  certificate.Securities.  A   document  that  records  the   essential  elements  of  a subscription  of  shares,  as  how  many  shares  are  to  be  purchased,  the  price  to  be  paid,  and  the payment and delivery schedule. [Blacks Law 8th]

Read More

ALLOTMENT

allotment,n.1. A share or portion of something, such as property previously held in common or shares in a cor-poration, or time assigned to speakers or sides in a deliberative assembly. [Cases: Common Lands    14. C.J.S. Common Lands §§ 17–19.] 2. In American Indian law, the selection of specific  land awarded to an individual allottee  from…

Read More

ALL-OR-NOTHING RULE

all-or-nothing rule.A gloss on the rule against perpetuities holding that a class gift is invalid in its entirety if it is invalid in part. • The effect is to invalidate a class member’s interest even if it vests within the period  of the rule because it may be subject to partial divestment by the remote…

Read More

ALLONGE

allonge  (a-lawnzh).  A  slip  of  paper  sometimes  attached  to  a  negotiable  instrument  for  the purpose  of receiving further indorsements when the  original  paper is filled with indorsements. • Former UCC § 3-202 required that indorsements be made on the instrument unless there was no space — and only then could an allonge be used. Current…

Read More

ALLOGRAPH

allograph (al-<<schwa>>-graf). An agent’s writing or signature for the principal. • This is the antonym of auto-graph. [Cases: Principal and Agent    132(1).] [Blacks Law 8th]

Read More

ALLODIUM

allodium  (<<schwa>>-loh-dee-<<schwa>>m),  n.  An  estate  held  in  fee  simple  absolute.  — Also spelled alodium. — Also termed alod; alode. [Cases: Estates in Property    5. C.J.S. Estates §§ 11–12.] “In this country, one who has full ownership of land is said to own it allodially — that is, free of feudal services and incidents.” Thomas F.…

Read More