wadset

wadset
In Scotland, the ancient term for a mortgage. A right by which lands or other property are pledged by their owner to a creditor in security for a debt, usually in the form of a mutual contract, in which one party sells the land and the other grants the right of reversion.

Dictionary from West's Encyclopedia of American Law. 2005.


wadset
In Scotland, the ancient term for a mortgage. A right by which lands or other property are pledged by their owner to a creditor in security for a debt, usually in the form of a mutual contract, in which one party sells the land and the other grants the right of reversion.

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  • Wadset — Wad set, n. [Scot. wad a pledge; akin to Sw. vad a wager. See {Wed}.] (Scots Law) A kind of pledge or mortgage. [Written also {wadsett}.] [1913 Webster] …   The Collaborative International Dictionary of English

  • wadset — n. mortgage, collateral (Scottish Law) v. mortgage, place as collateral …   English contemporary dictionary

  • wadset — wad·set …   English syllables

  • wadset — I. ˈwadˌset, ˈwäd transitive verb Etymology: Scots, alteration of Middle English wedsetten to pledge, from wed (I) + setten to set Scots law : mortgage, pledge II. noun …   Useful english dictionary

  • wadsett — Wadset Wad set, n. [Scot. wad a pledge; akin to Sw. vad a wager. See {Wed}.] (Scots Law) A kind of pledge or mortgage. [Written also {wadsett}.] [1913 Webster] …   The Collaborative International Dictionary of English

  • Wadsetter — Wad set*ter, n. One who holds by a wadset. [1913 Webster] …   The Collaborative International Dictionary of English

  • John Lauder — (born c. 1488, died between 1551 and 1556) was Scotland s Public Accuser of Heretics.In the Great Seal of Scotland, (number 1136 dated at Edinburgh on 15 February 1532) the King grants Letters of Legitimacy for John Lauder, bastard son of Sir… …   Wikipedia

  • Stenton — is a parish and village in East Lothian, Scotland. It is bounded on the north by parts of the parishes of Prestonkirk and Dunbar, on the east by Spott, and on the west by Whittingehame. The name is said to be of Saxon derivation. In earlier times …   Wikipedia

  • wadsetter — noun A person who holds tenure by wadset …   Wiktionary

  • McAllister — This most interesting surname, with variant spellings Mac Alester, Mac Alister, Mac Allaster, Macc Allister, etc., derives from the Gaelic Mac Alasdair , which translates as son of (Mac) Alexander . Alexander comes from the Greek personal name… …   Surnames reference

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