Poinding


Poinding

__NOTOC__

Definition

Poinding "(Scots law)": that diligence whereby a debtor's property is carried directly to a creditor.
There are two types:
*"Personal" - The taking of movable property (eg, wagons, livestock; but not property such as a house because it is not movable) belonging to the debtor. Plow cattle and tillage instruments cannot be included in times of labour or tilling, unless the debtor has no other movable property to satisfy the debt. "Personal poinding" is founded merely on an obligation to pay, all else aside. A relatively low level of diligence is sufficient to accomplish this (such as letters of horning, or a warrant granted by a sheriff or commissary).
*"Real" - The confiscation of non-movable property (such as land) and the movable property found on it. Every "debitum fundi" (a debt using land as collateral) is a foundation for "real poinding". It cannot be used against movable property brought onto the land by a stranger, nor against the movable property of a tenant for more than the value of the tenant's term rent. A relatively high level of diligence is necessary to accomplish this.

The definition was taken from the source. [ cite book
last = Shumaker
first = Walter A.
coauthors = George Foster Longsdorf
title = The Cyclopedic Law Dictionary
edition = Second Edition by James C. Cahill
year = 1922
publisher = Callaghan and Company
location = Chicago
]

ources and References


Wikimedia Foundation. 2010.