KFLCC Kingdom Law 2nd Ed.

647

INTEREST

INTERIM

In the law of evidence. "Interest," in a statute that no witness shall be excluded by interest in the event of the suit, means "concern," "advantage," "good," "share," "portion," "part," or "participation." Fitch v. Bates, 11 Barb. (N. Y.) 471; Morgan v. Johnson, 87 Ga. 382, 13 S. E. 710. 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. Civ. Code Cal. § 1915; Williams v. Scott, 83 Ind. 408; Kelsey v. Murphy, 30 Pa. 341; Williams v. American Bank, 4 Mete. (Mass.) 317; Beach v. Peabody, 188 111. 75, 58 N. E. 680. Classification.—Conventional interest is interest at the rate agreed upon and fixed by the parties themselves, as distinguished from that which the law would prescribe in the absence of an explicit agreement. Fowler v. Smith, 2 Cal. 568; Rev. St. Tex. 1895, art. 3099.— Legal interest. That rate of inter est prescribed by the laws of the particular state or country as the highest which may be lawfully contracted for or exacted, and which must be paid in all cases where the law al lows interest without the assent of the debtor. Towslee v. Durkee, 12 Wis. 485; American, etc., Ass'n v. Ham (Tex. Civ. App.) 62 S. W. 75; Beals v. Amador County, 35 Cal. 633. — 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 treated as a new principal, for the calculation of the inter est for the next period. — Ex-interest. In the language of stock ex changes, a bond or other interest-bearing securi ty is said to be sold "ex-interest" when the vendor reserves to himself the interest already accrued and payable (if any) or the interest ac cruing up to the next interest day.— Interest, maritime. See MABITIME INTEKEST.— Inter est npon interest. Compound interest. Interest reipnblicse ne maleficia re maneant impnnita. It concerns the state that crimes remain not unpunished. Jenk. Cent pp. 30, 31, case 59; Wing. Max. 501. Interest reipnblicse ne sua qnis male ntatnr. It concerns the state that persons do not misuse their property. 6 Coke, 36a. Interest reipnblicse quod homines con* serventur. It concerns the state that [the lives of] men be preserved. 12 Coke, 62. Interest reipnblicse res judicatas non rescind!. 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, S 44.

Interest reipnblicse snprema hominum testamenta rata haberi. It concerns the state that men's last wills be held valid, [or allowed to stand.] Co. Litt 230&. Interest reipnblicse nt carceres sint in tnto. It concerns the state that prisons be safe places of confinement. 2 Inst. 589. Interest (imprimis) reipnblicse nt pax in regno conservetur, et qusecunque paci adversentnr provide declinentnr. It es pecially concerns the state that peace be pre served in the kingdom, and that whatever things are against peace be prudently avoid ed. 2 Inst. 158. Interest reipnblicse ut quilibet re sua bene utatur. It is the concern of the state that every one uses his property properly. Interest reipnblicse ut sit finis litium. It concerns the state that there be an end of lawsuits. Co. Litt. 303. It is for the gen eral welfare that a period be put to litiga tion. Broom, Max. 331, 343. In patent law, this term designates a collision between rights claimed or granted; that is, where a person claims a patent for the whole or any integral part of the ground already covered by an ex isting patent or by a pending application. Milton v. Kingsley, 7 App. D. C. 540; De derick v. Fox (C. C.) 56 Fed. 717; Nathan Mfg. Co. v. Craig (O. C.) 49 Fed. 370. Strictly speaking, an "interference" is de clared to exist by the patent office whenever it is decided by the properly constituted authori ty in that bureau that two pending applications (or a patent and a pending application), in their claims or essence, cover the same discovery or invention, so as to render necessary an investi gation into the question of priority of invention between the two applications or the application and the patent, as the case may be. Lowrey v. Cowles Electric Smelting, etc., Co. (C. C.) 68 Fed. 372. is one appointed between the time of bankruptcy and appointment of the regular assignee. 2 Bell, Comm. 355. —Interim committitnr. "In the mean time, let him be committed." An order of court (or the docket-entry noting it) by which a prisoner is committed to prison and directed to be kept there until some further action can be taken, or until the time arrives for the execution of his sentence.— Interim curator. In English law. A person appointed by justices of the peace to take care of the property of a felon convict, until the appointment by the crown of an administrator or administrators for the same purpose. Mozley & Whitley.— Interim factor. In Scotch law. A« judicial officer elected or ap pointed under the bankruptcy law to take charge of and preserve the estate until a fit person shall be elected trustee. 2 Bell, Comm. 357.— Interim officer. One appointed to filK the of fice during a temporary vacancy, or during an interval caused by the absence or incapacity of the regular incumbent.— Interim order. One INTERFERENCE. INTERIM. Lat. In the mean time; meanwhile. An assignee ad interim