Word:

Welch mortgage

WELCH MORTGAGE, Eng. law, contracts. A species of security which partakes of the nature of a mortgage, as there is a debt due, and an estate is given as a security for the repayment, but differs from it in the circumstances that the rents and profits are to be received without account till the principal money is paid off, and there is no remedy to enforce payment, while the mortgagor has a perpetual power of redemption.
     2. It is a species of vivum vadium. Strictly, however, there is this distinction between a Welch mortgage and a vivum vadium. In the latter the rents and profits of the estate are applied to the discharge of the principal, after paying the interest; while in the former the rents and profits are received in satisfaction of his interest only. 1 Pow. Mortg. 373, a.

Browse
Weism
Weismann
Weismannism
Weiss beer
Weissbier
Weisshorn
Weive
Weizenbier
Weizenbock
Weizmann
Weka
Wekau
Wekeen
Wel-begone
Welaway
Welch
-- Welch mortgage --
Welcher
Welchman
Welcome
welcome mat
welcome wagon
Welcome-to-our-house
welcomed
Welcomely
Welcomeness
Welcomer
welcoming
welcoming committee
Weld
Weld steel
Weldable
Welder
Definitions Index: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

About this site and copyright information - Online Dictionary Home - Privacy Policy