Refers typical to accounts payable. A sum of money is said to be payable when a person is under an obligation to pay it. "Payable" may therefore signify an obligation to pay at a future time, but when used without qualification, "payable" means that the debt is payable at once, as opposed to "owing." … [Read more...] about PAYABLE
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PATRIMONY
Patrimony is sometimes understood to mean all kinds of property but its more limited signification , includes only such estate, as has descended in the same family and in a still more confined sense, it is only that which has descended or been devised in a direct line from the father, and by extension, from the mother, or other ancestor. 2 . By patrimony, patrimonium, is also … [Read more...] about PATRIMONY
PAUPERIES
Latin: In Roman law. Damage or Injury done by an irrational animal, without active fault on the part of the owner, but for which the latter was hound to make compensation. Inst 4, 9; Mackeld. Rom. Law, 510. … [Read more...] about PAUPERIES
PAYABLE ON DEATH
A method to avoid probate with regard to monetary instruments where someone is to be paid upon death and the transfer to the payee is automatic and does not require the intervention of the probate court. … [Read more...] about PAYABLE ON DEATH
PATRINUS
In old ecclesiastical law, A godfather. Spelman. … [Read more...] about PATRINUS