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Simple English definitions for legal terms
pernancy
Read a random definition: through bill of lading
A quick definition of pernancy:
Term: PERNANCY
Definition: Pernancy is an old word that means receiving or taking something, like the profits from an estate.
A more thorough explanation:
PERNANCY
Pernancy (pronounced puh-r-nun-see) is a historical term that refers to the act of taking or receiving profits from an estate.
One example of pernancy is when a landlord collects rent from their tenants. The landlord is pernancing the profits from their property.
Another example is when a business owner receives income from their company. The business owner is pernancing the profits from their business.
These examples illustrate the definition of pernancy because in both cases, someone is receiving profits or income from something they own or manage.