In old English law. The vesture of the land; that is, the corn, grass, underwood, sweepage, and the like. Co. Litt 4b. See Simpson v. Coe, 4 N. HL 301. … [Read more...] about VESTURA TERRE
VEST
Generally: To accrue to; to be fixed; to take effect; to give a fixed and Indefeasible right. This may include the vesting of stock options as part of an employment agreement after a stated number of years of servitude by an employee. estates. To give an immediate fixed right of present or future enjoyment; an estate is vested in possession when there exists a right of present … [Read more...] about VEST
VESSEL
mar. law. A ship, brig, sloop or other craft used in navigation. 2. By an act of congress, approved July 29, 1850, it is provided that any person, not being an owner, who shall on the high seas, willfully, with. intent to burn or destroy, set fire to any ship or other vessel, or otherwise attempt the destruction of such ship or other vessel, being the property of any citizen or … [Read more...] about VESSEL
VESTING ORDER
In English law. An order which may be granted by the chancery division of the high court of justice, (and formerly by chancery,) passing the legal es-tate In lieu of a conveyance. Commissioners also, under modern statutes, have similar powers. St 15 & 16 Vict c. 55; Wharton. … [Read more...] about VESTING ORDER
VESTED
Accrued; fixed; settled; absolute; having the character or giving the rights of absolute ownership; not contingent; not subject to be defeated by a condition precedent. Vested devise. See DEVISE. Vested estate. Any estate, property, or interest is called "vested," whether in possession or not, which is not subject to any condition precedent and unperformed. The interest may be … [Read more...] about VESTED