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Simple English definitions for legal terms
direct interest
Read a random definition: shipping law
A quick definition of direct interest:
Direct interest is when someone has a certain and absolute interest in something. This means they have a clear and definite right to it. For example, if you own a toy, you have a direct interest in it because it belongs to you and you can play with it whenever you want. However, if you borrow a toy from a friend, you do not have a direct interest in it because it is not yours and you have to give it back.
A more thorough explanation:
Direct interest refers to a certain and absolute interest in something. It is a legal share in something, which can be a right, privilege, power, or immunity. It is not subject to any condition or contingency.
- A person who owns a house has a direct interest in the property.
- A shareholder who owns more than 50% of a company's stock has a direct interest in the company's policy and management.
- A beneficiary of a trust who receives income from the trust has a direct interest in the trust.
These examples illustrate direct interest because in each case, the person has a certain and absolute interest in something. They have a legal share in the property, company, or trust, and their interest is not subject to any condition or contingency.