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Economy, and the Public Accounts: Exchequer
Estoppel, Eng., a bar to an action arising from a man's own act or deed. Exchange, the process of settling accounts between distant parties. Exchequer, a crown revenue court; divided anciently into two parts-one a court of record for determining causes touching these revenues (now also a common law court); the other employed in the receiving and paying of money. The latter now constitutes the department of the Chancellor of Exchequer. Exchequer Bills, Treasury bills issued under the sanction of Parliament. Excise, a tax on home productions or manufactures.
Exemplification of letters patent, etc., a transcript under the great seal, which may be pleaded as the originals.
Exigi Facias, Eng., a writ issued in absence of a defendant charging him to appear upon pain of outlawry.
Expectation of Life, in annuities, is the average of forthcoming years in the life of an individual. The curtate expectation is the average number completed, exclusive of the fraction of the year in which life fails.
Factor, a mercantile agent intrusted with the possession as well as the disposal of property.
Factory, Scot. See Mandate.
Factory System, a term used in reference to establishments employing numerous persons for manufacturing purposes.
Falsifying, in the English law of accounts, is showing that a charge has been inserted which is altogether wrong. Fee, a right in perpetuity.
Fee Farm Rent, Eng., a rent reserved upon a grant in fee, if not less than one-fourth of the value of the lands. If of less value it is a rent-charge. Feuduty, Scot., the fixed rent payable for land to the superior by the holder or vassal. Fiars Prices, Scot., average prices of corn yearly fixed in counties by sheriff juries, and which regulate all express or implied agreements at such prices. Fiat, Eng., a judicial order for making out and allowing certain processes. Fieri Facias, Eng., a writ after judgment, to levy the debt on the goods of the defendant.
Fine, a penalty, forfeit, or money paid for any exemption or liberty. Firm, the style or title of a mercantile company. [mortgages.
Foreclosure, Eng., a term used to express the barring the equity of redemption in Forthcoming, Scot., an accessory action of adjudication of movables following arrestment. Funding, the system of raising public loans by granting perpetual annuities, redeemable generally on certain terms by the State; so termed from stated revenues or funds being formerly appropriated for the payment of those annuities. Funds, the obligations or securities for the funded portion of the public debt. Garnishee, Eng., a person in whose hands money is attached within the city of London; so called because he has had garnishment, or warning, not to pay to the defendant.
Glut of Commodities is when, from the superabundance of supply, or the diminution of demand, the quantity of commodities in the market greatly exceeds the quantity wanted by those who are able and willing to pay the cost of production.-See Demand.
Goodwill, that advantage of a trade which arises from sole ownership, the situation of a shop, or long established custom.
Grassum, Scot., a fine paid for a lease.
Ground Annual, Scot., a fixed rent payable for church lands; also for buildingground, etc. Guarantee, an engagement for some debt, or the performance of some duty, in case of the failure of another person who is primarily responsible. Guild, an ancient term for a mercantile corporation. Holograph, Scot., a document in the handwriting of the granter. Homologation, Scot., expressly or impliedly ratifying an engagement in itself invalid. Honor, in Bills of Exchange, regularity in acceptance and payment. Hoondee, in Indian commerce, a native bill of exchange. Hypothec, a lien over personal property, the custody of which does not pass to the holder of the security, but remains with the proprietor. Imprest Moneys, a term applied to moneys issued by Government to storekeepers and other public agents until accounted for.
Indenture, a writing containing some contract, agreement, or conveyance; being formerly indented in the top, corresponding to another part with the same contents. Indorse, Indorser, to write one's name on the back of a note; the party who indorses it. Inhibition, Scot., a writ prohibiting a debtor from alienating heritage, or contracting debt, to the prejudice of the creditor inhibiter.
Injunction, Eng., the restraint by Chancery of any act by which injustice or fraud may be perpetrated.
Inlake, a deficiency in the weight or quantity of goods, arising as an accident of trade. Insolvency, a general inability to pay debts.
Insurance, a contract by which one party, in consideration of a premium, undertakes to indemnify another party against a particular event. Interpleader, Eng., a bill of interpleader in equity is where a person is indebted to one of the parties in a suit, and desires that, by their interpleading he may be safe in the payment. - See Multiplepoinding.