Blacks Law Dict. 1st ed

636

INTEREST REIPUBLIOE, ETC

INTERESSE

INTERESSE. Lat. Interest. The in terest of money; also an interest in lands. INTERESSE TERMINI. An interest In a term. That species of interest or prop erty which a lessee for years acquires in the lands demised to him, before he has actually become possessed of those lands; as distin guished from that property or interest vested in him by the demise, and also reduced into possession by an actual entry upon the lands and the assumption of ownership therein, and which is then termed an "estate for years." Brown. INTEREST. In property. The most general term that can be employed to denote a property in lands or chattels. In its appli cation to lands or things real, it is frequently used in connection with the terms "estate," "right," and "title," and, according to Lord Coke, it properly incl udes them all. Co. Litt. 3456. More particularly it means a right to have the advantage accruing from anything; any right in the nature of property, but less than title; a partial or undivided right; a title to a share. The terms "interest" and "title" are not synony mous. A mortgagor in possession, and a purchaser holding under a deed defectively executed, have, both of them, absolute as well as insurable inter ests in the property, though neither of them has the legal title. 29 Conn. 20. In the law of evidence. "Interest," in a statute that no witness shall be excluded by interest in the event of the suit, means "con cern," "advantage," "good," "share, "por tion," "part," or "participation." 11 Barb. 471; 11 Mete. (Mass.) 390. A relation to the matter in controversy, or to the issue of the suit, in the nature of a prospective gain or loss, which actually does, or presumably might, create a bias or preju dice in the mind, inclining the person to favor one side or the other. For money. Interest is the compensation allowed by law or fixed by the parties for the use or forbearance or detention of money. Civil Code Cal. § 1915. Legal interest is the rate of interest estab lished by the law of the country, and which will prevail in the absence of express stipula tion; conventional interest is a certain rate agreed upon by the parties. 2 Cal. 568. Simple interest is that which is paid for the principal or sum lent, at a certain rate or allowance, made by law or agreement of par ties. Compound interest is interest upon interest, where accrued interest is added to

the principal sum, and the whole heated as a new principal, for the calculation of the in terest for the next period. INTEREST, MARITIME. See MARI TIME INTEREST. INTEREST OR NO INTEREST. These words, inserted in an insurance policy, mean that the question whether the insured has or has not an insurable interest in the subject-matter is waived, and the policy is to be good irrespective of such interest. The effect of such a clause is to make it a wager policy. INTEREST POLICY. In insurance. One which actually, or prima facie, covers a substantial and insurable interest; as op posed to a wager policy. Interest reipublicse ne maleflcia re maneant impunita. It concerns the state that crimes remain not unpunished. Jenk. Cent. pp. 30, 81, case 59; Wing. Max. 501. Interest reipublicse ne sua quis male utatur. It concerns the state that persons do not misuse their property. 6 Coke, 36a. Interest reipublicse quod homines oon serventur. It concerns the state that [the lives of] men be preserved. 12 Coke, 62. Interest reipublicae res judicatas noD rescindi. It concerns the state that things adjudicated be not rescinded. 2 Inst. 360. It is matter of public concern that solemn adjudications of the courts should not be dis turbed. See Best, Ev. p. 41, § 44. Interest reipublicse suprema hominum testamenta rata haberi. It concerns the state that men's last wills be held valid, [or allowed to stand.] Co. Litt. 2366. Interest reipublicse ut carceres sint in tuto. It concerns the state that prisons be safe places of confinement. 2 Inst. 589. Interest (imprimis) reipublicse ut pax in regno conservetur, et queecunque paci adversentur provide deelinentur. It es pecially concerns the state that peace be pre served in the kingdom, and that whatever things are against peace be prudently avoided. 2 Inst. 158. Interest reipublicse ut quilibet re sua bene utatur. It is the concern of the state that every one uses his property properly. Interest reipublicse ut sit finis litium. It concerns the state that there be an en

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