assumption of obligation
1assumption of obligation — Undertaking to substitute one s self in the place and stead of the obligor; agreeing to discharge the obligation by payment. Stout v Folger, 34 Iowa 71 …
2assumption — I (adoption) noun acceptance, acquisition, receiving, reception, recipience, selection, taking on, undertaking associated concepts: assumpsit on quantum meruit, assumption agreement, assumption of debt, assumption of facts, assumption of… …
3assumption of debt — See assumption of obligation …
4assumption of risk — as·sump·tion of risk: a doctrine that a person may in advance relieve another person of the obligation to act towards him or her with due care and may accept the chance of being injured; also: an affirmative defense that the plaintiff cannot… …
5Assumption reinsurance — is a form of reinsurance whereby the reinsurer is substituted for the ceding insurer and becomes directly liable for policy claims. This ordinarily requires a notice and release from affected policyholders. In the more typical reinsurance… …
6Assumption of Mary — Assunta redirects here. For the hospital in Malaysia, see Assunta Hospital. Santa Maria Assunta redirects here. For churches with this dedication, see Santa Maria Assunta (churches). This article is about the theological concept. For works of art …
7assumption — noun 1) an informed assumption Syn: supposition, presumption, belief, expectation, conjecture, speculation, surmise, guess, premise, hypothesis; conclusion, deduction, inference; rare illation, notion, impression 2) …
8assumption — The act of conceding or taking for granted. Laying claim to or taking possession of. The act or agreement of assuming or taking upon one s self. The undertaking or adoption of a debt or obligation primarily resting upon another, as where the… …
9assumption clause — In mortgages, a provision that the mortgage may not be assumed without written consent of mortgagee. See assumption of mortgage. Also a provision in an instrument of transfer in which the transferee agrees to assume an obligation of the… …
10assumption — The act of conceding or taking for granted. Laying claim to or taking possession of. The act or agreement of assuming or taking upon one s self. The undertaking or adoption of a debt or obligation primarily resting upon another, as where the… …
