Legal Definition and Related Resources of Bristol bargain
Meaning of Bristol bargain
A contract by which A. lends B. £1,000 on good security, and it is agreed that £500, together with interest, shall be paid at a time stated, and, as to the other £500, that B., in consideration thereof, shall pay to A. £100 per annum, for seven years. Wharton.
What does Bristol Bargain mean in American Law?
The definition of Bristol Bargain in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:
An old form of loan, the distinctive feature of which was that the borrower was to repay an amount equal to one-fifth of the principal each year for seven years. It comes to about 11% per year.
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| Bristol Bargain in the Dictionary | Bristol Bargain in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Bristol Bargain |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
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| Related topics | Bristol Bargain in the World Encyclopedia of Law |
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This definition of Bristol Bargain Is based on the The Cyclopedic Law Dictionary . This definition needs to be proofread..
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