The notes also pay contingent interest based on American Rice's future cash flow.
2.
He was assigning or purporting to assign something which he might become entitled to in the future, not a contingent interest.
3.
Because of the agreement on the contingent interest, the borrower must pay the lender 20 % of the profit, namely, $ 40, 000.
4.
In terms of section 2, property means movable or immovable property wherever situate in the Republic, and includes contingent interests in property.
5.
The lender and the borrower agree to a lower interest rate of 5 %, and to a contingent interest of 20 % of appreciated value of the property.
6.
Revenue Ruling 83-51 ( 1983 ) of the Internal Revenue Service specifies conditions under which the contingent interest in a shared appreciation mortgage may be considered tax-deductible mortgage interest.
7.
Thus, if the property s value decreases, the borrower would still owe whatever principal is outstanding, and if the borrower sells the property for a loss, the contingent interest is simply zero.
8.
If the estate of the fideicommissary heir or legatee is sequestrated, his or her contingent interest does not vest in the trustee; but if the interest becomes vested while the estate is under sequestration, it ipso facto passes to the trustee.
9.
Sinclair would not enter into a sharing arrangement with or maintain any contingent interest in WABM, other than a possible transitional shared facilities agreement until WTTO's operations were migrated from its existing studios on Beacon Parkway West to WBMA's facilities in Hoover.
10.
Also, the modern class action evolved out of the equitable doctrine of virtual representation, which enabled a court of equity to fully dispose of an estate even though it might contain contingent interests held by persons over which the court did not have direct jurisdiction.
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