In the English law of descent, the first purchaser was he who first acquired an estate in a family, which still owns it. A purchase of this kind signifies any mode of acquiring an estate, except, by descent. … [Read more...] about FIRST PURCHASER
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FIRE INSURANCE
An insurance policy that pays the beneficiary based upon damage to the property being caused by fire and, sometimes, other elements such as rain or wind. … [Read more...] about FIRE INSURANCE
FIRME
In old records. A farm. Firmior et potentior est oporatio legis quam dispositio nominis. The operation of the law is firmer and more powerful [or efficacious] than the disposition of man. Co. Litt 102a. … [Read more...] about FIRME
FIRST TO FILE
The first to file results in obtaining rights, such as in patent law in the U.S. where the first to file determines who obtains the patent, not who actually first invented something. … [Read more...] about FIRST TO FILE
FIRE SALE
A sale of goods or items at a significantly reduced price in order to sell the items as quickly as possible. The term originates from a sale that is done after a fire, flood or other force causing significant damages to a business leaving no viable place to store the inventory. … [Read more...] about FIRE SALE