Blacks Law Dict. 1st ed

373

DISCOVERT

DISCONTINUANCE

and such actions may always be brought forward. 56 N. H. 416. The cessation of the proceedings in an action where the plaintiff voluntarily puts an end to it, either by giving notice in writing to the defendant before any step has been taken in the action subsequent to the answer, or at any other time by order of the court or a judge. In practice, discontinuance and dismissal import the same thing, viz., that the cause is sent out of court 48 Mo. 235. In pleading. That technical interrup tion of the proceedings in an action which follows where a defendant does not answer the whole of the plaintiff's declaration, and the plaintiff omits to take judgment for the part unanswered. Steph. PI. 216, 217. DISCONTINUANCE OF AN ESTATE. The termination or suspension of an estate-tail, in consequence of the act of the tenant in tail, in conveying a larger estate in the land than he was by law en titled to do. 2 Bl. Comm. 275; 3 Bl. Comm. 171. An alienation made or suffered by tenant in tail, or by any that is seised in auter droit, whereby the issue in tail, or the heir or successor, or those in reversion or re mainder, are driven to their action, and can not enter. Co. Litt. 325a. The cesser of a seisin under an estate, and the acquisition of a seisin under a new and necessarily a wrong ful title. Prest. Merg. c. ii. Discontinuare nihil aliud sigmficat quam intermittere, desueseere, inter rumpere. Co. Litt. 325. To discontinue signifies nothing else than to intermit, to disuse, to interrupt. DISCONTINUOUS EASEMENT. One the enjoyment of which can be had only by the interference of man, as rights of way, or a right to draw water; as distinguished from a continuous easement, which is one the enjoyment of which is or may be con tinual, without the necessity of any actual interference by man, as a watei-spout, or a right of light or air. Washb. Easem. 13; Gale, Easem. 16; 21 N. Y. 505; 60 Mich. 252, 27 N. W. Rep. 509. This distinction is de rived from the French law. See Code Civil, art. 688. DISCONTINUOUS SERVITUDE. See DISCONTINUOUS EASEMENT. DISCONVENABLE. L. Fr. Improper; unfit. Kelham.

DISCOUNT. In a general sense. An allowance or deduction made from a gross sum on any account whatever. In a more limited and technical sense. The taking of interest in advance. By the language of the commercial world | and the settled practice of banks, a discount by a bank means a drawback or deduction made upon its advances or loans of money, upon negotiable paper or other evidences of debt pajableatafutmeday, which are trans feired to the bank. 8 Wheat. 338; 15 Ohio St. 87. Although the discounting of notes or bills, in its most comprehensive sense, may mean lending money and taking notes in payment, yet, in its more ordinary sense, the discounting of notes or bills means advancing a consideration for a bill or note, deducting or discounting the interest which will accrue for the time the note has to run. 13 Conn. 248. Discounting by a bank means lending money up on a note, and deducting the interest or premium in advance. 17 N. Y. 507, 515; 48 Mo. 189. The ordinary meaning of the term "to discount" is to take interest in advance, and in banking is a mode of loaning money. It is the advance of money not due till some future period, less the in terest which would be due thereon when payable. 42 Md. 592. Discount, as we have seen, is the difference be tween the price and the amount of the debt, the evidence of which is transferred. That difference represents interest charged, being at the same rate, according to which the price paid, if invested until the maturity of the debt, will ]ust produce its amount. 104 U S 276. Discounting a note and buying it are not identic al in meaning, the latter expression being used to denote the transaction when the seller does not in dorse the note, and is not accountable for it. 23 Minn. 206 In practice. A set-off or defalcation in an action. Yin. Abr. "Discount." But see 1 Mete. (Ky.) 597. DISCOUNT BROKER. A bill broker; one who discounts bills of exchange and promissory notes, and advances money on securities. DISCOVERT. Not married; not subject to the disabilities of coverture. It applies equally to a maid and a widow. DISCOVERY. Invention; finding out. The finding of an island or country not pre viously known to geographers. In patent law. The finding out some substance, mechanical device, improvement, or application, not previously known. Discovery, as used in the patent laws, depend* upon invention. Every invention may, in a cer tain sense, embrace more or less of discovery, for it must always include something that is new; but

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