KFLCC Kingdom Law 2nd Ed.

PREFERRED

PREDIAL SERVITUDE

930

5 Wis. 480. And see Doe v. Beck, 108 Ala. 71, 19 South. 802. PREFECT. In French law. The name given to the public functionary who is charg ed in chief with the administration of the laws, in each department of the country. Merl. Repert See Crespin v. U. S., 168 U. S. 208, IS Sup. Ct 53, 42 L. Ed. 438. The term is also used, in practically the same sense, in Mexico. But in New Mexico, a pre fect is a probate judge. PREFER. To bring before; to prose cute; to try; to proceed with. Thus, pre ferring an indictment signifies prosecuting or trying an indictment. To give advantage, priority, or privilege; to select for first payment, as to prefer one creditor over others. PREFERENCE. The act of an insolvent debtor who, in distributing his property or in assigning it for the benefit of his credit ors, pays or secures to one or more credit ors the full amount of their claims or a larger amount than they would be entitled to receive on a pro rata distribution. Also the right held by a creditor, in virtue of some lien or security, to be preferred above others (*. e., paid first) out of the debt or's assets constituting the fund for credit ors. See Pirie v. Chicago Title & Trust Co., 182 U. S. 438, 21 Sup. Ct 906, 45 L. Ed. 1171; Ashby v. Steere, 2 Fed. Cas. 15; Chad bourne v. Harding, 80 Me. 580, 16 Atl. 248; Chism v. Citizens' Bank, 77 Miss. 599, 27 South. 637; In re Ratliff (D. C.) 107 Fed. 80; In re Stevens, 38 Minn. 432, 38 N. W. 111. PREFERENCE SHARES. A term used in English law to designate a new issue of shares of stock in a company, which, to facilitate the disposal of them, are accorded a priority or preference over the original shares. Such shares entitle their holders to a pref erential dividend, so that a holder of them is entitled to have the whole of his dividend (or so much thereof as represents the extent to which his shares are, by the constitution of the company, to be deemed preference shares) paid before any dividend is paid to the ordinary shareholders. Mozley & Whit ley. PREFERENTIAL ASSIGNMENT. An assignment of property for the benefit of creditors, made by an insolvent debtor, in which it is directed that a preference (right to be paid first in full) shall be given to a creditor or creditors therein named. PREFERRED. Possessing or accorded a priority, advantage, or privilege. Gener ally denoting a prior or superior claim or right of payment as against another thing of

PREDIAL SERVITUDE. A real or predial servitude is a charge laid on an estate for the use and utility of another estate belonging to another owner. Civil Code La. art. 647. See PREDIAL SERVITUDE. In logic. That which is said concerning the subject in a logical prop osition; as, "The law is the perfection of common sense." "Perfection of common sense," being affirmed concerning the law, (the subject,) is the predicate or thing predicated. Wharton; Bourland v. Hildreth, 26 Cal. 232. This term, in its natural and ordinary signification, is under stood to be something greater or superior in power and influence to others, with which it is connected or compared. So understood, a "predominant motive," when several mo tives may have operated, is one of greater force and effect, in producing the given re sult, than any other motive. Matthews v. Bliss, 22 Pick. (Mass.) 53. international law. The right of pre-emption is the right of a nation to detain the merchandise of strangers passing through her territories or seas, in order to afford to her subjects the preference of purchase. 1 Chit. Com. Law, 103. In English law. The first buying of a thing. A privilege formerly enjoyed by the crown, of buying up provisions and other necessaries, by the intervention of the king's purveyors, for the use of his royal house hold, at an appraised valuation, in prefer ence to all others, and even without consent of the owner. 1 Bl. Comm. 287; Garcia y. Callender, 125 N. Y. 307, 26 N. E. 283. In the United States, the right of pre emption is a privilege accorded by the gov ernment to the actual settler upon a certain limited portion of the public domain, to pur chase such tract at a fixed price to the ex clusion of all other applicants. Nix v. Allen, 112 U. S. 129, 5 Sup. Ct. 70, 28 L. Ed. 675; Bray v. Ragsdale, 53 Mo. 170. —Pre-emption claimant. One who has set tled upon land subject to pre-emption, with the intention to acquire title to it, and has com plied, or is proceeding to comply, in good faith, with the requirements of the law to perfect his right to it. Hosmer v. Wallace, 97 U. S. 575, 581, 24 L. Ed. 1130.— Pre-emption en try. See ENTRY.— Pre-emption right. The right given to settlers upon the public lands of the United States to purchase them at a limited price in preference to others. One who, by set tlement upon the public land, or by cultiva tion of a portion of it, has obtained the right to purchase a portion of the land thus settled upon or cultivated, to the exclusion of all other persons. Dillingham v. Fisher, PREDICATE. PREDOMINANT. PRE-EMPTION. In PRE-EMPTIONER.