18:15
@BulbasaurNoLikeCardio: i mean getting paid for their incompetence is based
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LSDefine
Simple English definitions for legal terms
statutory release
Read a random definition: institutional litigant
A quick definition of statutory release:
Statutory release is a type of legal document that replaced an older type of document called a compound assurance by lease and release. It was created by a law called the Conveyance by Release Without Lease Act of 1841.
A more thorough explanation:
Statutory release is a type of conveyance that replaces the compound assurance by lease and release. It was created by the Conveyance by Release Without Lease Act of 1841 (St. 4 & 5 Vict., ch. 21).
For example, if someone wants to transfer ownership of a property to another person, they can use a statutory release instead of a lease and release. This simplifies the process and makes it easier for both parties.
Another example is when a company wants to transfer ownership of a patent to another company. They can use a statutory release to do this instead of a more complicated legal process.
These examples illustrate how statutory release can be used to simplify the process of transferring ownership of property or assets. It is a legal tool that can be used to make transactions easier and more efficient.