contracts. The sum agreed by the parties to be paid, on a breach of a contract, by the party violating his engagement to the other. 2. It is difficult to distinguish, in some cases, between stipulated damages and a penalty; 3 Chitty's Commer. Law, 627; 2 Bos. & Pull. 346. The effect of inserting stipulated damages, either at law or equity, a pears to be, that both parties … [Read more...]

crim. law. A machine commonly made of wood, with boles in it, in which to confine persons accused of or guilty of a crime. 2. It was used either to confine unruly offenders by way of security, or convicted criminals for punishment. 3. This barbarous punishment has been generally abandoned in the United States. Commerce. Shares of stock in various companies, a portfolio, e.g. … [Read more...]

Lat. In the Roman law, stipulatio was the verbal contract (verbis obligatio,) and was the most solemn and formal of all the contracts in that system of jurisprudence. It was entered Into by question and corresponding answer thereto, by the parties, both being present at the same time, and usually by such words as "spondes spondeo," "promittis promitto" and the like. Brown. … [Read more...]

contracts. In the Roman law, the contract of stipulation was made in the following manner, namely; the person to whom the promise was to be made, proposed a question to him from whom it was to proceed, fully expressing the nature and extent of the engagement and, the question so proposed being answered in the affirmative, the obligation was complete. 2. It was essentially … [Read more...]

In the civil law. The party who asked the question in the contract of stipulation; the other party, or he who answered, being called the "promissor." But, in a more general sense, the term was applied to both the parties. Calvin. … [Read more...]