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Pay. Co

Categories: Property

Definition (1910 Edition)

v. Lyons (Cal.) 43 Pac. 601. This phrase is chiefly used in English bankruptcy practice, where the bankrupt is styled the “reputed owner” of goods spel Me his possession, though the real owner may another person. The word “reputed” has a much weaker sense than its derivation would appear to warrant; importing merely a supposition or opinion derived or made up from outward appearances, and often unsupported by fact. The term “reputed owner’ is frequently employed in this sense. 2 Steph. Comm. 206.—Riparian owner. See RIPABIAN.—Speoial owner. One who has a special interest in an article of property, amounting to a qualified ownership of it, such, for example, as a bailee’s lien; as distinguished from the gencral owner, who has the primary or residuary title to the same thing.
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.