13:13
i heard the group interview is really chill and I'm kinda excited to do it
Warning
Info
LSDefine
Simple English definitions for legal terms
personal warrandice
Read a random definition: book equity
A quick definition of personal warrandice:
Personal Warrandice: In Scottish law, personal warrandice is a promise made by the seller of land to protect the buyer from any claims made by someone else who may have a better right to the land. This promise is binding not only on the seller but also on their heirs. It means that if the buyer is forced to give up the land, the seller or their heirs will compensate them for any losses incurred.
A more thorough explanation:
Definition: Personal warrandice is a legal term used in Scots law. It refers to an obligation that binds the grantor and the grantor's heirs to indemnify the grantee or buyer of land if another person establishes a superior title and takes possession.
For example, if John sells a piece of land to Jane with personal warrandice, he is guaranteeing that he has the right to sell the land and that no one else has a better claim to it. If someone else comes forward with a superior claim and takes possession of the land, John and his heirs are obligated to compensate Jane for any losses she incurs as a result.
Personal warrandice is different from real warrandice, which involves using certain lands as security for lands conveyed to the grantee. In the case of real warrandice, the security lands will be transferred to the grantee if they are evicted from the conveyed lands by a third party.