(A) Practice. When parties agree to settle matters between themselves out of court and agree not to pursue the case to use a judge or jury to decide upon the matter. (B) domicil. The right which a person has of being considered as resident of a particular place. 2. It is obtained in various ways, to wit: 1. By birth. 2. By the legal settlement of the father, in the case of minor children. 3. By marriage. 4. By continued residence. 5. By the payment of requisite taxes. 6. By the lawful exercise of a public office. 7. By hiring and service for a year. 8. By serving an apprenticeship; and perhaps some others which depend upon the local statutes of the different states. (C) contracts. The conveyance of an estate, for the benefit of some person or persons. 2. It is usually made on the prospect of marriage for the benefit of the married pair, or one of them, or for the benefit of some other persons, as their children. Such settlements vest the property in trustees upon specified terms, usually for the benefit of the husband and wife during their joint lives, and then for the benefit of the survivor for life, and afterwards for the benefit of children. Ante-nuptial agreements of this kind will be enforced in equity by a specific performance of them, provided they are fair and valid, and the intention of the parties is consistent with the principles and policy of law. Settlements after marriage, if made in pursuance of an agreement in writing entered into prior to the marriage, are valid, both against creditors and purchasers.
Law Dictionary – Alternative Legal Definition
In conveyancing. A disposition of property by deed, . usually through the medium of a trustee, by which its enjoyment is limited to several persons In succession, as a wife, children, or other relatives. In contracts. Adjustment or liquidation of mutual accounts; the act by which parties who have been dealing together arrange their accounts and strike a balance. Also full and final payment or discharge of an account. In poor laws. The term signifies a tight acquired by a person, by continued residence for a given length of time in a town or district, to claim aid or relief under the poor-laws in case of his becoming a pauper. See Westfleld v. Coventry, 71 Vt 175, 44 Atl. 66; Jefferson v. Washington, 19 Me. 300; Jackson County v. Hillsdale County, 124 Mich. 17, 83 N. W. 408. In probate praotioe. The settlement of an estato consists in its administration by the executor or administrator carried so far that all debts and legacies have been paid and the individual shares of distributees in the corpus of the estate, or the residuary portion, as the case may be, definitely ascertained and determined, and accounts filed and passed, so that nothing remains but to make final distribution. By which the crown of England was limited to the house of Hanover, and some new provisions were added at the same time for the better securing the religion, laws, and liberties. Deed of settlement. A deed made for the purpose of settling property, t. e., arranging the mode and extent of the enjoyment thereof. The party who settles property is called the “settlor ;” and usually his wife and children or his creditors or his near relations are the beneficiaries taking interests under the settlement prown. Equity of settlement. The equitable right of a wife, when her husband sues in equity for the reduction of her equitable estate to his own possession, to have the whole or a portion of such estate settled upon herself and her children. Also a similar right now recognized by the equity courts as directly to be asserted against the husband. Also called the “wife’s equity.”-Final settlement. This term, as applied to the administration of an estate, is usually understood to have reference to the order of court approving the account which ocloses the business of the estate, and which finally discharges the executor or administrator from the duties of his trust Roberts v. Spencer, 112 Ind. 85, 13 N. E. 129; Sims v. Waters, 65 Ala. 445. Strict settlement. This phrase was formerly used to denote a settlement whereby land was limited to a parent for life, and after his death to his first and other sons or children in tail, with trustees interposed te preserve contingent remainders. 1 Steph. Comm. 332, 333. Voluntary settlement. A settlement of property upon a wife or other beneficiary, made gratuitously or without valuable consideration.