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EXPECT

Categories: Contracts

Definition (1910 Edition)

those who are successively liable for the same debt. “A surety who discharges an obligation is entitled to look: to the principal for reimbursement, and to invoke the atd of a court of equity for this purpose, and a subsequent surety who, by the terms of the contract, is responsible only in case of the default of the principal and a prior surety, may claim ezoneration at the hands of either.” Bisp. Eq. § 881.

existence of the present condition of things until the happening of some future event. Pearsall v. Great Northern R. Co., 161 U. S. 646, 16 Sup. Ct. 705, 40 L. Ed. 838.—Expectation of e, in the doctrine of life annuities, is the share or number of years of life which a person of a given age may, upon an equality of chance, expect to enjoy. Wharton.
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.