PREDIAL SERVITUDE
PREDIAL SERVITUDE. A real or predlal servitude is a charge laid on an estata for the use and utility of another estate beionging to another owner. Civil Code La. art. 647. See Pizinnran Snavrronn.
PREDICATE. In logic. That which is said concerning the subject in a logicai proposition; ns, "The law is the perfection of common sense." "Perfection of common sense," being aifirmed concerning the law, (the subject) is the predicate or thing predicated Wharton; Bouriand v. Hildreth, 26 Cal. 232.
PREDOMINANT. This term, in its natural and ordinary signification, is understood to be something greater or superior in power and influence to otheis, with which it is connected or compared. So understood, I1 "predominant motive," when several motives may have operated, is one of greater force and el1'ect, in prodnclng the given resuit, than any other motive. Matthews v. Bliss, 22 Pick. (Mass) 53.
PR1}-EMPTION. In international law. The right of [ire-emption is the right of a nation to detain the merchandise or strangels passing through her territories or sens. in order to al1'ord to her subjects the preference of purchase. 1 Chit. Com. Law.
103 In English law. The first buying of I]. thing. A pririiege formerly enjoyed by the
crown, of buying up provisions and other necessaries, by the intervention of the king's purieyors, for the use of his royal house- hold. at an appraised valuation. in preference to all others, and even without consent of the owner. 1 Bl. Comm. 287; Garcia v. Calieniler, 125 N. Y. 307, 26 N. E. 283.
In the United States, the right of pre- emntion is a privilege accorded by the government 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. Aiien, 112 U. S. 129. 5 Sup. Ct. 70. 28 L. Ed. 675: Bray v. Riigsdsle, 5&3 lilo. 170. —Pi-e-emptiun claimant. One who has set- _tled upon land siibiect to pre-emption, with the in_tention_to acquire title to it, and s coinnigcfl, or is proceeding to comply, in good faith, with the requirements of the law to perfect his right to it. Hosnier v. Wallace, 97 U. S. 575, 581. 24 L. Ed. 1130.—Pre-eruption ent_ry. Sce EN'raY.—Px-e-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.
FEE-EMPTIONEB. One who, by settlement upon the public land, or by cuitivation of a portion of it, has obtained the right to purchase a portion of the land thus settled upon or cultivated, to the exciusion of all other persons. Diiiingham v. Fisher,
930
PREFERRED
5 Wis. 480. And see Doe v. Beck, 108 All. 71, 19 South. 802.
PB.)-11‘!-:C'l‘. In French law. The name given to the public functionury who is charg- ed in chief with the administration of the laws, in each department of the country. Merl. liépert. See Crwpni v. U. S., 163 U. S. 208, 18 Sup. Ct. 53, -12 L. Ed. -138. The term is also used, in practically the same sense, in Mexico. But in New Mexico, B prefect is a probate judge.
PREFER. To hring before; to prosecute, to try; to proceed with. Thus, preferring an todictineiit signifies prosecuting or trying an indictment.
To give advantage, priority, or privilege; to seiect 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 beneht of his credit.- ors, pays or secures to one or more credit- ors the fuil amount of their claims or ii larger amount than they wouid he 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 (i. 42., paid first) out of the debt- or’s assets constituting the fund for cicdit- ois See Pirle v. Chicago Title & Trust 00.. 182 U. S. -1.58, 21 Sup. Ct. 906, 45 L. Ed. 1171; Ashby v. Steeie, 2 Red. Gas. 15; Chali- bourne v. Harding, 80 Me. 5su, 16 Ati. 248; Chism v. Citizens’ Bank, 77 Miss. 599. 2'1’ South. 637; In re Ratiiif (D. G.) 107 Fed. 80; In re Stevens, 38 Minn. -i3'.’, 38 i\'. W. 111.
PREFERENCE SHARES. A term used in English law to designate a new issue of shares of stock in a company, which, to faciiitate the disposal of them, are accorded a priority or preference over the original shares.
Such shares entitle their holders to II pref- erential disidend, 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 sh.ires) paid before any d.i\'ideiid is paid to the ordinary sharehoiders. Mozley & Whit- ley.
PREFERENTIAL ASSIGNMENT. All 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 ginen to a creditor or creditors therein named.
PREFERRED. Possesing or accorded a priority. advantage, or priviiege. Gener- ally denoting a prior or superior claim or right of payment as against another thing of
