Page:Black's Law Dictionary (Second Edition).djvu/1090

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SHARE

SHARE. A portion of anything. When

a whole is divided into shares, they are not necessarily equal.

In the law of corporations and joint-stock companies, a share is a definite portion or the capital or a company.

0 —S]:.s.re and share alike. In equal shares or proportions.—Share-certificate. A shnre-certifinate is an instrument under the seal of the company, certifying that the person therein named is entitled to a certain number of shares; it is prime fat-ic evidence of his Lille thereto.

Llndi. Partn. 150, Zl1ST.—Share-warrant. A share-warrant to bmirer is a wariiint or c_ertitiuite under the seal of the company, stating that the bearer of the warrant is entitled to a certain number or amount of fully paid up shares or stock. Coupons for payment of divi- dends may be annexed to it. Deiiveiy of the shure-warrant operates as a transfer of the shares or stock. Sweet.

SHAREHOLDER. In the strict sense of the term, a “shareholder” is a person who has agreed to become a member of a corporation or company, and with respect to vshom all the required formalities have been gone through; e. 9., signing or deed of settlement, registration, or the like. A shareholder by estoppel is a person who has acted and been

treated as a shareholder, and consequently has the same Liabilities as if he were an orb dlnary shareholder. Lmdl. Partn. 130. See Beul v. Essex Saw. Bank. 67 Fed. 816, 15 C. C. A. 128; State v. Mitchell, 104 Tenn. 336, 58 S. W. 355.

SHARP. A "sharp” clause in a mortgage or other secuiity (or the whole instrument described as “sharp") is one which empowers the creditor to take prompt and summary action upon default in payment or breach of other conditions.

SHARPING CORN. A customary gift of corn, which, at every Christmas, the tarmers in some parts of England give to their smith for sharpening their plow-irons, harrow-tines, etc. Blount.

SHASTER. In Hindu law. The instru- ment of government or instruction; any book .01 instructions, partiuilarly containing Di- vine ordinances. Wharton.

SHAVE. While “shave" is sometimes used to denote the act of obtaining the prop- erty of another by oppression and extoition, it may be used in an innocent sense to de- noio the huying of existing notes and other securities for money, at a discount. Hence to charge a man with using money for shaving is not libeions per so. See Stone v. (‘0nper, 2 Deiiio (N. Y.) 301; Trentham v. Moore, 111 Tenn. 346, 16 S. W. 904; Bronson v. Wlnian, 10 Barb. (N. Y.) 428.

SHAW. In old English law. A wood. CD. Litt. 4b. SIIAWATORES. Soldiers. Cowell.

1082

SH ERIFF

SHEADING. A riding, tithing, or divi- sion in the isle of Man, where the whole island is dflilled into six slieadlngs, in each of which there is a coroner or chief constable appoiuted by a delivery of I] rod at the Tinewald court or annual convention. King, Isle of Man, 7.

SHEEP. A wether more than a year old. Rex v. Birket, 4 Car. & I‘. 215.

SHEEP-HEAVES. Small plots of past- nre, in England, ulten in the middle of the waste of a manor, of which the soil may or may not be in the lord, but the pasture is private propei ty, and leased or sold as such. They principally occur in the northern cunnties, (Cooke, Inci Acts, 4-1,) and seem to be corporeal beredituments. (Elton, Commons, 35.) although they are sometimes classed with rights of common, but erroneously, the right being an exclusive right of pasture. Sweet

SHEEP-SILVER. A service turned into money, which was paid in respect that anciently the tenants used to wash the lord's sheep. Wharton.

SHEEP-SKIN. A deed; so called from the parchment it was written on.

SHEEP-WALK. A right of sheep-walk is the same thing as a fold-course, (q. 11.) Elton, Commons, 44.

SHELLEY’S CASE, RULE IN. "When the ancestor, by any gift of conveyance, talietb an estate or freehold, and in the same gift or conveyance an estate is limited, either mediritely or immediately. to his heirs in fee or in tall, the ‘heirs’ are words of limitation of the estate, and not words of pur- chase." 1 Coke. 104.

Intimately connected with the quantity of estate which a tenant may hold in realty is the antique feudal doctrine geneially known as the "Rule in Shelley's Case," which is reported by Lord Coke in 1 Coke, 93!), (23 Ellz. in C. B.) This rule was not first laid down or established in that case, but was then simply admitted in argument as a \vell- rounded and settled rule of ia\v, and has al- ways since hee.n quoted as the "Rule in Shei- iey’s Case." Wharton.

SHEPWAY, COURT OF. A court held before the lord Warden of the Cinque Ports. A writ of error lay from the mayor and jnrats of each port to the lord warden in this court, and thence to the queen's bench. The civil jurisdiction of the Clnqne Ports is abolished by 18 & 19 Vict. r. 48.

SHEREFFE. The body of the lordship of L‘.-crdifl‘ in South Wales, excluding the members of it. Powel, Hist. Wales, 12%.

SHERIFF. In American law. The

chief executive and administrative ofllcer of a county. being chosen by popular election