KFLCC Kingdom Law 2nd Ed.

529

PULL

FUND

ent—Full covenants. See COVENANT.—Full defense. In pleading. The formula of de fense in a plea, stated at length and without abbreviation, thus: "And the said C D., by BL P., his attorney ; comes and defends the force (or wrong) and injury when and where it shall behoove him, and the damages, and whatsoever else he ought to defend, and says," etc. Steph. PI. p. 481.—Full faith and credit. In the constitutional provision that full faith and cred it shall be given in each state to the public acts, records, and judicial proceedings of every other state, this phrase means that a judgment or record shall have the same faith, credit, con clusive effect, and obligatory force in other states as it has by law or usage in the state from whence taken. Christmas v. Russell, 5 Wall. 3 0 t 18L. Ed. 475; McBUmoyle v. Cohen, 13 Pet. 326, 10 L. Ed. 177; Gibbons Y. Living ston, 6 N. J. Law, 275; Brengle v. McClellan, 7 Gill & J. (Md.)438.—Full indorsement. See INDORSEMENT.—Full jurisdiction. Com plete jurisdiction over a given subject-matter or class of actions (as, in equity) without any ex ceptions or reservations. Bank of Mississippi v. Duncan. 52 Miss. 740.—Full life. Life in fact and in law. See IN FULL LIFE.—Full proof. In the civil law. Proof by two wit nesses, or a public instrument. Hallifax, Civil Law, b. 3, c. 9, nn. 25, 30; 3 Bl. Comm, 370. Evidence which satisfies the minds of the jury of the truth of the fact in dispute, to the entire exclusion of every reasonable doubt. Kane v. Hibernia Mut. F. Ins. Co., 38 N. J. Law, 450, 20 Am. Rep. 409.—Full right. The union of a good title with actual possession. FULLY ADMINISTERED. The English equivalent of the Latin phrase "plene admin istravit;" being a plea by an executor or ad ministrator that he has completely and legal ly disposed of all the assets of the estate, and has nothing left out of which a new claim could be satisfied. See Ryans v. Boogh er, 169 Mo. 673, 69 S. W. 1048. FUMAGE. In old English law. The same as fuage, or smoke farthings. 1 BL Comm. 324. See FUAGE. fulfillment of a definite end or set of ends by the correct adjustment of means. The occupation of an office. By the performance of its duties, the officer is said to fill his function. Dig. 32, 65, 1. See State v. Hyde, 121 Ind. 20, 22 N. E. 644. FUNCTIONAL DISEASE. In medical jurisprudence. One which prevents, ob structs, or interferes with the due perform ance of its special functions by any organ of the body, without anatomical defect or ab normality in the organ itself. See Higbee v. Guardian Mut L. Ins. Co.,66 Barb. (N. Y.) 472. Distinguished from "organic" disease, which is due to some injury to, or lesion or malformation in, theorgan in question. FUNCTIONARY. A public officer or em ploys. An officer of a private corporation Is also sometimes so called, BL.LAW DICT.(2D ED.)—34 FUNCTION. Office; duty; FULLUM AQU2E. A fleam, or stream of water. Blount

FUNCTUS OFFICIO. Lat Having ful filled the function, discharged the office, or accomplished the purpose, and therefore of no further force or authority. Applied to an officer whose term has expired, and who has consequently no further official authority; and also to an instrument power, agency, etc., which has fulfilled the purpose of its creation, and is therefore of no further vir tue or effect. To capitalize with a view to the production of interest Stephen v. Mil nor, 24 N. J. Eq. 376. Also, to put into the form of bonds, stocks, or other securities, bearing regular interest, and to provide or appropriate a fund or permanent revenue for the payment thereof. Merrill v. Monticello (C. C.) 22 Fed. 596. —Funded debt. To fund a debt is to pledge a specific fund to keep down the interest and reduce the principal. The term "fund" was originally applied to a portion of the national ^revenue set apart or pledged to the payment of a particular debt. Hence, as applied to the pecuniary obligations of states or municipal cor porations, a funded debt is s one for the pay ment of which (interest and principal) some fund is appropriated, either specifically, or by provision made for future taxation and the quasi pledging in advance of the public revenue. Ketchum v. Buffalo, 14 N. Y. 356; People v. Carpenter, 31 App. Div. 603,52 N. Y. Supp. 781. As applied to the financial management of corporations (and sometimes of estates in course of administration or properties under receiver ship) funding means the borrowing of a suffi cient sum of money to discharge a variety of floating or unsecured debts, or debts evidenced by notes or secured by bonds but maturing with in a short time, and creating a new debt in lieu thereof, secured by a general mortgage, a series of bonds, or an issue of stock, generally ma turing at a more remote period, and often at a lower rate of interest. The new debt thus substituted for the pre-existing debts is called the "funded debt." See Ketchum v. Buffalo, 14 N. Y. 356; People v. Carpenter, 31 App. Div. 603, 52 N. Y. Supp. 781; Lawrey v. Ster ling, 41 Or. 518, 69 Pac. 460. This term is very seldom applied to the debts of a private individual; but when so used it must be under stood as referring to a debt embodied in se curities of a permanent character and to the payment of which certain property has been ap plied or pledged. Wells v. Wells (Super. N. Y.) 24 N. Y. Supp. 874.—Funding system. The practice of borrowing money to defray the ex penses of government, and creating a "sinking fund," designed to keep down interest, and to effect the gradual reduction of the principal debt Merrill v. Monticello (C. C.) 22 Fed. 596. FUND, n. A sumof money set apart for a specific purpose, or available for the pay ment of debts or claims. In its narrower and more usual sense, "fund" signifies "capital," as opposed to "interest" or "income;" as where we speak of a corporation funding the arrears of interest due on its bonds, or the like, meaning that the interest is capital ized and made to bear interest in its turn until it is repaid. Sweet. In the plural, this word has a variety of slightly different meanings, as follows: 1. Money in hand; cash; money available for the payment of a debt, legacy, etc. Ga- FUND, v.