Water passes witlt the soil. From a legal point of view, water is land covered by water, and an action cannot be brought to recover possession of a pool, by the name of water only, but as so much land covered by water. Water, being a movable thing, must continue common, and its ownership therefore goes with the land below. Where a river divides the property of two different … [Read more...]

Financial term. The simultaneous buying and selling of securities or goods so that the price difference between the transactions results in an immediate and instant profit. … [Read more...]

Latin for water runs and ought to run which means that water that is stationary on one's land is controlled by the land owner. But if the water is running through the land and flows to the lands of others, then the land owner's right to the water is inferior to the flow and may not prevent the flow of water from running through and to the land of others. Also explained as … [Read more...]

The award or decision of arbitrators upon a matter of dispute, which has been submitted to them. Termes de la Ley. Arbitrament and award. A plea to an action brought for the same cause which had been submitted to arbitration and on which an award had been made. Wats. Arb. 256. Arbitramentum sequum tribnit cuiqne suum. A just arbitration renders to every one his own. Noy, Max. … [Read more...]

In the civil law. A servitude which consists in the right to carry water by means of pipes or conduits over or through the estate of another. Dig. 8, 3, 1; Inst. 2, 3. … [Read more...]