This phrase is usually employed in a bill of exchange or promissory note, to denote that a consideration has been given for it. 2. The expression value received, when put in a bill of exchange, will bear two interpretations: the drawer of the bill may be presumed to acknowledge the fact that he has received value of the payee; or when the bill has been made payable to the order … [Read more...] about VALUE RECEIVED
VALUED POLICY
A valued policy is one where the value has been set on the ship or goods insured, and this value has been inserted in the policy in the nature of liquidated damages, to save the necessity of proving it in case of loss. … [Read more...] about VALUED POLICY
VALVASORS, OR VIDAMES
An obsolete title of dignity next to a peer. 2 Inst. 667; 2 Steph. Comm. 612. Vana est ilia potentia quss nunquam venit in actnm. That power is vain [idle or useless] which never comes into action, [which is never exercised.] 2 Coke, 51. Vani timores sunt asstimandl, qui non eadunt in eonstantem virom. Those are to be regarded as idle fears which do not affect a steady [firm or … [Read more...] about VALVASORS, OR VIDAMES
VALUATION LIST
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 the union assessment committee act, 1862, (St. 25 A 26 Vict c 103,) for the purposes of the poor … [Read more...] about VALUATION LIST
VALUE
common law. This term has two different meanings. It sometimes expresses the utility of an object, and some times the power of purchasing other good with it. The first may be called value in use, the latter value in exchange. 2. Value differs from price. The latter is applied to live cattle and animals; in a declaration, therefore, for taking cattle, they ought to be said to be … [Read more...] about VALUE