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ANTICIPATION 74

Categories: Criminal Law

Definition (1910 Edition)

pawn relates to movables, and the antichresis to immovables. The antichresis must be reduced to writing; and the creditor thereby acquites the right to the fruits, etc., of the immovables, deducting yearly their proceeds from the interest, in the first place, and afterwards from the principal of his debt. He is bound to pay taxes on the property, and keep it in repair, unless the contrary is agreed. The creditor does not become the proprietor of the property by failure to pay at the agreed time, and any clause to that effect is void. He can only sue the debtor, and obtain sentence for sale of the property. The possession of the property is, however, by the contract, transferred to the creditor. Livingston v. Story, 11 Pet. 351, 9 L. Ed. 746.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.