Page:Black's Law Dictionary (Second Edition).djvu/537

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FULL

ent.—I'u].1 covenants. See Covi:NaNr.—Fu1l defense. In pleading. The formuiu of defense in a plea, stated at iength and without abbreviation, thus: "And the said C. D., b E. F., his attorney. comes and defends the orce (or wrong) and injury when and where it shall hehoove him, and the damages, and whabsoever else he ought to defend, and says," etc. Steph. Pl. )1. 4S1.—!'u1l faith and credit. In the constitutional provision that full faith and cred- it shall be given in each state to the public ucts. records, and judicial proceedings of every other state. this phrase means that a judgment or record shall have the some faith, credit, cocnlusive effect, and obligatory force in other states as it has by law or usage in the state from whence taken. Christmas v. Russell. :9 Wall. 302. 18 L. Ed. 475; Mclblmoyle v. Cohen, 13 Pet. 326. 10 L. Ed. 177; Gibbons v. Living- ston 6 N. J. Law, 2.75: Brengle v. McClellan, 7 Gill & J. (Md.) 4I’uS.—Fn1l index-sexuent. Sr-e INuoassMENr.—1‘ulI jurisdiction Gomplete 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.—Fnll life. Life in fact and in law. See IN FULL Lirs.—Fn1l proof. In the ci law. Proof by two ' ncsses, or a public instrument. Hallifax, Uivii Low, b. 3, c. 9. un. 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, 4 . 2 Am. Rep. 409.—I‘nll right. The union of a good title with actual possession.

FULLUM AQUE. of water. Blonnt.

A fieam, or stream

FULLY ADMINISTERED. The English equivalent of the Latin phrase “plane fl/d7Il.Wl.- ietr ;" being in plea by an executor or ad- ministrator that he has completely and legally disposed of all the assets of the estate. and has nothing left out of which :1 new ciaiin could be satisfied. See Ryans v. Bougher. 169 M0. 673, 69 S. W. 1048.

FUMAGE. In old Engilsh law. same as fuage, or smoke farthings. Comm. 324. See Fuses.

The 1 BL

FUNCTION, office; duty; fulfillment of a definite end or set of ends by the correct adjustment of me ins. The occupation of an office. By the performance of its duties, the officer is said to fill ins 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- nnce 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.) 4712. Distinguished from “org.nnic" disease, which is due to some injury to, or lesion or maiformation tn, the organ in question.

FUNCTIONARY. A public officer or ampioyé. An officer of a private corporation is also sometimes so calied.

Bl.Law Dict.(2d Ed.)—34

529

FUND

PUNGTUS OFFICIO. Lui’. Having ful- filied the function, discharged the office, or accomplished the purpose, and therefore of no further force or authority. Appiied to an officer whose term has expired, and who has consequently no further officlai authniity: and also to an instrument, poucr, agency. etc., which has fulliiied the purpose of its creation, and is therefore of no further virtue or effect.

FUND, 1-. To capitalize with a view to the prmiuct-ion of interest. Stephen v. Mii- nor, 24 N. J. Eq. 3'76. Also, to put into the form of bonds, stocks, or olber securities. bearing regular interest, and to provide or appropriate a fund or p(=rm:u1ent revenue for the payment thereof. Merrili v. Monticelio (C. C.) 22 Fed. 596.

—l:‘unded debt. To fund a debt is to pledge a specific fund to keep down the interest and reduce the piiiiripnl. The term "Euud" rvis orig-iniiiiy 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 corporations, a funded debt is one for the pay- ment of which (interest and principal) some fund is appropriated, either specifically, or by provision made or ture taxation and the q-mun‘ pledging in advance of the public revenue. Ketclium v. Bulifaio, 14 N. Y. 3-‘I6; People v. ("-urpenter. 31 App. Div. 003. 5:? N. Y. Supp. '7 As applied to the financial management of corporations (and sometimes of estates in course of administration or properties under receivership) funding means the borrowing of a Sullicient sum of money to discharge :1 variety of floating or unsecured debts, or debts evidenced by notes or secured by bonds but maruiing with- in a short time, and creating a new debt In licu thereof. secured by a generai mortgage. a series of bonds, or an issue of stock. generally maturing at a more remote period, and often at a lower rate of interest. The new debt thus substituted for the pre-existing debts is callcd the "funded debt." See Ketchum v. Bu 14 . Y. 356; People v. Carpenter, 31 App. Div. 603, 52 N. Y. Supp. 781; Lawrey v. Ster- ling, 41 Or. 518. 69 Pnc. 4/60. This term is very seldom applied to the debts of a private individual; but when so used it must be understood as referring to a. debt embodied in sccurities of a permanent character and to the puymcnt of which cortain property has been ap- lied or pledged. Wells v. \'\'clls (Sniper. N. Y.) E4 N. Y. Supp. ST4.—l‘nnding system. Tlie practice of hnrroning Ill|’ll'l(’_V to defrny the expenses 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. 0.) 22 Fed. 596.

FUND. n. A sum of money set apart for a specific purpose, or available for the pay- ment of debts or ciaims.

In its narr0_wer and more usual sense, “fund" signifies "cnpit'il," as opposed to “l!.\terest"_o|' "income I" as where we speak of a corporation funlling the arrears of interest due on its boudg. or the like, meaning that the interest is capital: izcd and made to bear interest in its turn until it is repaid. Sweet.

In the plural, this word has a variety of slightly llifferent meanings, as follows:

1. Money in hand; cash; money availablefor the payment of a debt, legacy, etc. Ga-

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