A sale where the purchase price is paid in installment payments over the course of several years, which results in any capital gains tax realized by the seller to be paid over the course of several years as opposed to a single year as a result of a one time lump sum payment. … [Read more...] about INSTALLMENT SALE
I
INSTITUTE
1. To name or to make an heir by testament. To make an accusation; to commence an action. 2. Scotch law. The person first called in the tailzie; the rest, or the heirs of tailzie, are called substitutes. Ersk. Pr. L. Scot. 3, 8, 8. See Tailzie, Heir of; Substitutes. 2. In the civil law, an inastitute is one who is appointed heir by testament, and is required to give the estate … [Read more...] about INSTITUTE
INSTALLMENTS
Different portions of the same debt payable at different successive periods as agreed. Brown. … [Read more...] about INSTALLMENTS
INSTITUTES
A name sometimes given to text-books containing the elementary principles of jurisprudence, arranged in an orderly and systematic manner. For example, the Institutes of Justinian, of Galus, of Lord Coke. Institutes of Gains. An elementary work of the Roman jurist Gains; important as having formed the foundation of the Institutes of Justinian, (g. vr) These Institutes were … [Read more...] about INSTITUTES
INSTANCE
In pleading and practice. Solicitation, properly of an earnest or urgent kind. An act is often said to be done at a party's "special instance and request." In the civil and French law. A general term, designating all sorts of actions and judicial, demands. Dig. 44, 7, 58, In ecclesiastical law. Causes of instance are those proceeded in at the solicitation of some party, as … [Read more...] about INSTANCE