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Simple English definitions for legal terms
Boston interest
Read a random definition: scope of a patent
A quick definition of Boston interest:
Boston interest refers to the things that people in Boston want or benefit from. Interest means something that people desire or gain financially. It can also mean having a legal right to something, like property. There are different types of interests, such as absolute interest, which means having a right without any conditions, and contingent interest, which means having a right only if something happens first. Boston interest is just the specific interests of people in Boston.
A more thorough explanation:
Definition: Boston interest refers to an object of human desire, especially financial advantage or profit. It can also refer to a legal share or right in property, which includes any aggregation of rights, privileges, powers, and immunities.
Examples:
- Absolute interest: An interest that is not subject to any condition.
- Beneficial interest: A right or expectancy in something, such as a trust or an estate, as opposed to legal title to that thing.
- Contingent interest: An interest that the holder may enjoy only upon the occurrence of a condition precedent.
- Controlling interest: Sufficient ownership of stock in a company to control policy and management, especially a greater-than-50% ownership interest in an enterprise.
- Defeasible interest: An interest that the holder may enjoy until the occurrence of a condition.
- Equitable interest: An interest held by virtue of an equitable title or claimed on equitable grounds, such as the interest held by a trust beneficiary.
- Entailed interest: An interest that devolves through lineal descendants only as a result of a fee tail.
- Entire interest: A whole interest or right, without diminution.
- Expectation interest: The interest of a non-breaching party in being put in the position that they would have been in had the contract been performed.
For example, a person with a beneficial interest in a trust receives income from the trust but does not hold legal title to the trust property. Another example is a controlling interest, which refers to sufficient ownership of stock in a company to control policy and management, especially a greater-than-50% ownership interest in an enterprise.