ABANDONMENT - The intent and subsequent actions of a tenant that indicate that the tenant has given up the leased premises. Examples include an empty apartment, a return of keys, and utilities turned off.
In insurances the act by which the insured relinquishes to the assurer all the property to the thing insured.
No particular form is required for an abandonment, nor need it be in writing; but it must be explicit and absolute, and must set forth the reasons upon which it is founded.
It must also be made in reasonable time after the loss.
It is not in every case of loss that the insured can abandon. In the following cases an abandonment may be made: when there is a total loss; when the voyage is lost or not worth pursuing, by reason of a peril insured against or if the cargo be so damaged as to be of little or no value; or where the salvage is very high, and further expense be necessary, and the insurer will not engage to bear it or if what is saved is of less value than the freight; or where the damage exceeds one half of the value of the goods insured or where the property is captured, or even detained by an indefinite embargo ; and in cases of a like nature.
The abandonment, when legally made transfers from the insured to the insurer the property in the thing insured, and obliges him to pay to the insured what he promised him by the contract of insurance.
In the French law, the act by which a debtor surrenders his property for the benefit of his creditors.
In maritime contracts in the civil law, principals are generally held indefinitely responsible for the obligations which their agents have contracted relative to the concern of their commission but with regard to ship owners there is remarkable peculiarity; they are bound by the contract of the master only to the amount of their interest in the ship, and can be discharged from their responsibility by abandoning the ship and freight.
The Relinquishment Of A Right; the giving up of something to which we are entitled.
Legal rights, when once vested, must be divested according to law, but equitable rights may be abandoned; a mill site, once occupied, may be abandoned; an application for land, which is an inception of title; an improvement; and a trust fund may be abandoned.
The abandonment must be made by the owner without being pressed by any duty, necessity or utility to himself, but simply because he wishes no longer to possess the thing; and further it must be made without any desire that any other person shall acquire the same; for if it were made for a consideration, it would be a sale or barter, and if without consideration, but with an intention that some other person should become the possessor, it would be a gift: and it would still be a gift though the owner might be indifferent as to whom the right should be transferred; for example, he threw money among a crowd with intent that some one should acquire the title to it.
By the Roman law, when the master was sued for the tort of his slave, or the owner for a trespass committed by his animal, he might abandon them to the person injured, and thereby save himself from further responsibility.
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English-Chinese law dictionary (法律英汉双解大词典). 2013.
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abandonment — aban·don·ment n 1: the act of abandoning property or a right: as a: relinquishment by an inventor of the right to enforce a patent see also dedication b: an author s relinquishment to the public domain of his or her copyrighted work c … Law dictionary
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Abandonment — A*ban don*ment ( ment), n. [Cf. F. abandonnement.] 1. The act of abandoning, or the state of being abandoned; total desertion; relinquishment. [1913 Webster] The abandonment of the independence of Europe. Burke. [1913 Webster] 2. (Mar. Law) The… … The Collaborative International Dictionary of English
abandonment — The trustee s relinquishment of estate property that is burdensome or of inconsequential value to the bankruptcy estate (SA Bankruptcy.com) A process by which the court releases property from its control. This occurs when property of the estate… … Glossary of Bankruptcy
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abandonment — The surrender, relinquishment, disclaimer, or cession of property or of rights. Voluntary relinquishment of all right, title, claim and possession, with the intention of not reclaiming it. State v. Bailey, 97 N. J.Super. 396, 235 A.2d 214, 216.… … Black's law dictionary
abandonment — [[t]əbæ̱ndənmənt[/t]] 1) N UNCOUNT: oft N of n The abandonment of a place, thing, or person is the act of leaving it permanently or for a long time, especially when you should not do so. ...memories of her father s complete abandonment of her. 2) … English dictionary
abandonment — controlling party giving up rights to property voluntarily. Bloomberg Financial Dictionary Allowing an option to expire unexercised. Also, withdrawal from a cancellable forward contract to purchase securities. Exchange Handbook Glossary * * *… … Financial and business terms
abandonment — See abandoner. * * * ▪ property law in Anglo American property law, the relinquishment of possession of property with an intent to terminate all ownership interests in that property. Abandonment may occur by throwing away the property, by… … Universalium
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