Page:Black's Law Dictionary (Second Edition).djvu/1205

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VALUATION

VALUATION. The act of ascertaining the worth of a thing. The estimated worth of a thing. See Lowenstein v. Schitter. 38 App. Div. 178. 56 N. Y. Supp. 6'74: State v. Central Pac. It. Co., 7 Nev. 104; Sergeant v. Dwyer, 44 Minn. 309, 46 N. W. 444.

VALUATION LIST. In English law. A list of all the ramble hereditaments in a parish, showing the names of the occupier, the owner, the property, the extent of the prop- erty, the gross estimated rental, and the ratable value; prepared ‘by the overseers of each parish in a union under section 14 of the union assessment committee act, 1862, (St. 25 & 26 Vict c. 103,) for the purposes of the poor rate. Wharton.

VALUE. The utility of an object in satisfying, directly or indirectly, the needs or desires of human beings, called by economists “value in use:" or its worth consisting in the power of purchasing other objects, called "value in exchange” Also the estimated or appraised worth of any object of property, calculated in money.

The term is also often used as an abbreviation for “valuable consideration," especially in the phrases "purchaser for value" "holder for valne." etc.

—Va1ne received. A phrase usually employ-

ed in a bill of exchange or proniissoiy note.

Egrrletnote that a consideration has been given I

VALIIED POLICY. A policy is Called "valued," when the parties, having agreed upon the vaine of the interest insured. in order to save the necemity of further proof have inserted the valuation in the policy, in the nature of liquidated damages. 1 Duer, Ins. 97.

VALIIER. A person whose business is to appraise or set a value upon property.

VALVASORS, or VIDAMES. An obsolete title of dignity next to a peer. 2 Inst. 667; 2 Steph. Comm. 612.

Vanna est 1113 potentin qua: nunqnam vonit in aetmn. That power is vain [idle or useless] which never comes into action. [which is never exercised.) 2 Coke, 51.

Vani timer-es snnt aestimaudi, qui non endunt in constantem vinun. Those are to be regarded as idle fears which do not affect a steady [flrm or resolute] man. 7 Coke 27.

Va_n.i timoris just: excnsatio non est. A frivolous fear is not a legal excuse. Dig. 50, 17, 184; 2 Inst. 483.

VANTARIUS. L. Lat. in old records. Afore-footman. spelman; Cowell.

1197

VAVASORY

VA.'R.A. A Spanish-American measure of length, equal to 33 English inches or a trifle more or less, varying according to local us- age. See U. S. v. Perot, 98 U. S. 428, 25 L. Ed. 251.

VARDA. custody; guardianship. do," in old English law.

in old Scotch law. Ward; Answering to “Wur- Spelman

VAR]-ZNNA. In old Scotch law. A warren. Answering to "wurenmz," in old E '- iish law. Spelman.

VARIANCE. In pleading and practice. A discrepancy or disagreement between two instruments or two steps in the same cause which ought by law to be entirely consonant. Thus, if the evidence adduced by the plaintitt does not agree with the allegations of his declaration, it is a variance: and so if the statement of the cause of action in the dec- laration does not coincide with that given in the writ. See Kelser v. Topping, 72 Ill. 2239; Mulligan v. U. S., 120 Fed. 98, 56 C. C. A. 50; Bank of New Brunswick v. Arrowsmith, 9 N. J. Law, 287; Skinner v. Grant, 12 Vt. 462: State v. Wadsworth, 30 Conn. 57.

VARRANTIZATIO.}} In old Scotch law. Warranty. VAS. Lat. In the civil law. A pledge;

a surety; ball or surety in a criminal proceeding or civil action. Calvin.

VASECTOMY. The operation of castration as performed by section (cutting) of the mu deforms or spermntic cord; sometimes proposed as an inhibitory punishment for rapists and other crimlnais.

VASSAL. In feudal law. A feudal tenant or grantee; a feudatory; the holder of a flef on a feudal tenure, and by the obligation of performing feudal services. The correlative term was "lord."

VASSALAGE.}} The state or condition of a vuss. .

VASSELERIA. of a vassal. Cowell.

The tenure or holding

VASTUM. L. Lat. A waste or common lying open to the cattle of all tenants who have a right of CODJlll0D_lDE'- Cowell. —Vs.stu_n.-i forests: val bosci. In old records. Waste of a forest or wood. That part of a forest or wood wherein the trees and under- wood were so destroyed that it lay in a_ manner

waste and barren. 1’a.roch. Antiq. 331, 497; Cowell. ' VAUDERIE. In old European law. Sor-

cery; witchcraft; the profession of the Vandois.

VAVASORY. held. Cowell.

The lands that a vavasour