What is the legal meaning of or?
short for “own recognizance,” meaning the judge allowed a person accused in a criminal case to go free pending trial without posting bail. A person so released is often referred to as having been “OR-ed.” ( See: own recognizance)
What does perpetuity mean in a contract?
forever
The term in perpetuity essentially means forever. Forever means there is no expiration date. So when this term is written in a contract, it means that a person or company can use the content and/or the creative’s name and likeness forever, and only for that one time contractual payment.
Is it in perpetuity or into perpetuity?
If something is done in perpetuity, it is intended to last for ever. The U.S. government gave the land to the tribe in perpetuity.
What does Perpetude mean?
Definition of perpetuity 1 : eternity sense 2. 2 : the quality or state of being perpetual bequeathed to them in perpetuity. 3a : the condition of an estate limited so that it will not take effect or vest within the period fixed by law.
What does in perpetuity mean in business?
Definition: Perpetuity is an ongoing timeline that extends into infinity. In the business world, this typically refers to a security or bond that doesn’t have a maturity date or a steady stream of reoccurring income that extends into the foreseeable future, like a royalty payment.
Can you use and/or in legal?
The use of the term and/or is pervasive in legal language. Lawyers use it in all types of legal contexts — including statutes, contracts, and pleadings. Beginning in the 1930s, however, many judges decided that the term and/or should never be used in legal drafting.
What is in perpetuity mean in business?
What does in perpetuity mean in a business deal?
A perpetuity is a type of annuity that lasts forever, into perpetuity. The stream of cash flows continues for an infinite amount of time. In finance, a person uses the perpetuity calculation in valuation methodologies to find the present value of a company’s cash flows when discounted back at a certain rate.