VEST

Generally: To accrue to; to be fixed; to take effect; to give a fixed and Indefeasible right. This may include the vesting of stock options as part of an employment agreement after a stated number of years of servitude by an employee. estates. To give an immediate fixed right of present or future enjoyment; an estate is vested in possession when there exists a right of present … [Read more...] about VEST

mar. law. A ship, brig, sloop or other craft used in navigation. 2. By an act of congress, approved July 29, 1850, it is provided that any person, not being an owner, who shall on the high seas, willfully, with. intent to burn or destroy, set fire to any ship or other vessel, or otherwise attempt the destruction of such ship or other vessel, being the property of any citizen or … [Read more...] about VESSEL

They that are immediate lord and tenant one to another. Cowell. … [Read more...] about VERY LORD AND VERY TENANT

Latin: True; truthful; genuine; actual; real; just … [Read more...] about VERTUS

A legal relationship in corporate law that exists between companies in the chain of distribution of a product. This relationship creates responsibilities between the companies involved, including being liable for defects in the product. For example, vertical privity exists between the manufacturer of a car and the dealership that sells it. Therefore, both the dealer and the … [Read more...] about VERTICAL PRIVITY