A pawnbroker is an individual or business that offers secured loans to people, with items of personal property used as collateral. The items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral. While many items can be pawned, pawnshops typically accept jewelry, musical instruments, home audio equipment, computers, video game systems, coins, gold, silver, televisions, cameras, power tools, firearms, and other relatively valuable items as collateral.
A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. In the English common law, the party who entrusts the property is known as the "settlor", the party to whom it is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the "beneficiary", and the entrusted property is known as the "corpus" or "trust property". A testamentary trust is an irrevocable trust established and funded pursuant to the terms of a deceased person's will. An inter vivos trust is a trust created during the settlor's life.
Business is the practice of making one's living or making money by producing or buying and selling products. It is also "any activity or enterprise entered into for profit."
A brocard is a legal maxim in Latin that is, in a strict sense, derived from traditional legal authorities, even from ancient Rome.
Sumptuary laws are laws that try to regulate consumption. Black's Law Dictionary defines them as "Laws made for the purpose of restraining luxury or extravagance, particularly against inordinate expenditures for apparel, food, furniture, or shoes, etc." Historically, they were intended to regulate and reinforce social hierarchies and morals through restrictions on clothing, food, and luxury expenditures, often depending on a person's social rank.
Usury is the practice of making loans that are seen as unfairly enriching the lender. The term may be used in a moral sense—condemning taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law. A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by the laws of a state. Someone who practices usury can be called a usurer, but in modern colloquial English may be called a loan shark.
A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien.
Some philosophers distinguish two types of rights, natural rights and legal rights.
Compound interest is interest accumulated from a principal sum and previously accumulated interest. It is the result of reinvesting or retaining interest that would otherwise be paid out, or of the accumulation of debts from a borrower.
A promise is a commitment by someone to do or not do something. As a noun promise means a declaration assuring that one will or will not do something. As a verb it means to commit oneself by a promise to do or give. It can also mean a capacity for good, similar to a value that is to be realized in the near future.
A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. A sole trader does not necessarily work alone and may employ other people.
Eugen Ehrlich was an Austrian legal scholar and sociologist of law. He is widely regarded as one of the primary founders of the modern field of sociology of law.
The term predicate is used in two ways in linguistics and its subfields. The first defines a predicate as everything in a standard declarative sentence except the subject, and the other defines it as only the main content verb or associated predicative expression of a clause. Thus, by the first definition, the predicate of the sentence Frank likes cake is likes cake, while by the second definition, it is only the content verb likes, and Frank and cake are the arguments of this predicate. The conflict between these two definitions can lead to confusion.
A kgotla is a public meeting, community council, or traditional law court of a Botswana village and in rural Lesotho and South Africa. It is usually headed by the village chief or headman, and community decisions are always arrived at by consensus. Headmen usually work as the advisers to the chief. No one may interrupt while another is having their say. Because of this tradition, Botswana claims to be one of the world's oldest democracies.
In the Constitutional law of the United States, a forum is a property that is open to public expression and assembly.
Under Section 1031 of the United States Internal Revenue Code, a taxpayer may defer recognition of capital gains and related federal income tax liability on the exchange of certain types of property, a process known as a 1031 exchange. In 1979, this treatment was expanded by the courts to include non-simultaneous sale and purchase of real estate, a process sometimes called a Starker exchange.
The subject of loans and interest in Judaism has a long and complex history. In the Hebrew Bible, the Book of Ezekiel classifies the charging of interest among the worst sins, denouncing it as an abomination and metaphorically portraying usurers as people who have shed the borrower's blood. The Talmud dwells on Ezekiel's condemnation of charging interest.
The Prozbul was established in the waning years of the Second Temple of Jerusalem by Hillel the Elder. The writ, issued historically by rabbis, changed the status of individual private loans into the public administration, which made them ineligible for cancellation on the year of Shmita. This allowed the poor to receive interest-free loans before the Sabbatical year while protecting the investments of the lenders.
Tracing is a procedure in English law used to identify property which has been taken from the claimant involuntarily or which the claimant wishes to recover. It is not in itself a way to recover the property, but rather to identify it so that the courts can decide what remedy to apply. The procedure is used in several situations, broadly demarcated by whether the property has been transferred because of theft, breach of trust, or mistake.
Pichilemu Airport is an airport serving Pichilemu, a Pacific coastal city in the O'Higgins Region of Chile. It is one of the oldest airports in the region.
