In Scotch law. A deed attaching a qualification or condition to the terms of a conveyance or other instrument. This deed is used when particular circumstances render it necessary to express in a separate form the limitations or qualifications of a right. Bell. The instrument is equivalent to a declaration of trust in English conveyancing. … [Read more...] about BACKBOND
B
BAD FAITH
The term to denote the opposite of good faith with ill will, usually used as an intent to deceive or mislead another intentionally which results in some advantage. For example, an act done in bad faith. … [Read more...] about BAD FAITH
BAIL OUT
1. An emergency or fortuitous infusion of cash or other helpful action that remedies a current problem, for example, a loan may come through to provide a company with operating capital after an officer made a mistake resulting in a cash shortfall. 2. To pay a defendant's bail money which allows the defendant to be released from jail as a result. … [Read more...] about BAIL OUT
BAIR-MAN
In old Scotch law. A poor Insolvent debtor, left bare and naked, who was obliged to swear In court that he was not worth more than five shillings and five pence. … [Read more...] about BAIR-MAN
BACK-BOND
A bond given by one to a surety, to indemnify such surety in case of loss. In Scotland, a back-bond is an instrument which, in conjunction with another which gives an absolute disposition, constitutes a trust. A declaration of trust. … [Read more...] about BACK-BOND