Interest
| Noun | 1. | interest - a sense of concern with and curiosity about someone or something; "an interest in music" Synonyms: involvement |
| 2. | interest - the power of attracting or holding one's interest (because it is unusual or exciting etc.); "they said nothing of great interest"; "primary colors can add interest to a room" Synonyms: interestingness | |
| 3. | interest - a reason for wanting something done; "for your sake"; "died for the sake of his country"; "in the interest of safety"; "in the common interest" Synonyms: sake | |
| 4. | interest - a fixed charge for borrowing money; usually a percentage of the amount borrowed; "how much interest do you pay on your mortgage?" | |
| 5. |  interest - a diversion that occupies one's time and thoughts (usually pleasantly); "sailing is her favorite pastime"; "his main pastime is gambling"; "he counts reading among his interests"; "they criticized the boy for his limited pursuits" | |
| 6. | interest - (law) a right or legal share of something; a financial involvement with something; "they have interests all over the world"; "a stake in the company's future" Synonyms: stake | |
| 7. | interest - (usually plural) a social group whose members control some field of activity and who have common aims; "the iron interests stepped up production" Synonyms: interest group | |
| Verb | 1. | interest - excite the curiosity of; engage the interest of |
| 2. | interest - be on the mind of; "I worry about the second Germanic consonant" | |
| 3. | interest - be of importance or consequence; "This matters to me!" Synonyms: matter to |
INTEREST, estates. The right which a man has in a chattel real, and more particularly in a future term. It is a word of less efficacy and extent than estates, though, in legal understanding, an interest extends to estates, rights and titles which a man has in or out of lands, so that by a grant of his whole interest in land, a reversion as well as the fee simple shall pass. Co. Litt. 345.
INTEREST, contracts. The right of property which a man has in a thing,
commonly called insurable interest. It is not easy to give all accurate
definition of insurable interest. 1 Burr. 480; 1 Pet. R. 163; 12 Wend. 507
16 Wend. 385; 16 Pick. 397; 13 Mass. 61, 96; 3 Day, 108; 1 Wash. C. C. Rep.
409.
2. The policy of commerce and the various complicated. rights which
different persons may have in the same thing, require that not only those
who have an absolute property in ships and goods, but those also who have a
qualified property therein, may be at liberty to insure them. For example,
when a ship is mortgaged, after, the mortgage becomes absolute, the owner of
the legal estate has an insurable interest, and the mortgagor, on account of
his equity, has also an insurable interest. 2 T. R. 188 1 Burr. 489; 13
Mass. 96; 10 Pick. 40 and see 1 T. R. 745; Marsh. Ins. h. t.; 6 Meeson &
Welshy, 224.
3. A man may not only insure his own life for the benefit of his heirs
or creditors, and assign the benefit of this insurance to others having thus
or otherwise an interest in his life, but be may insure the life of another
in which he may be interested. Marsh. Ins. Index, h. t.; Park, Ins. Index,
h. t.; 1 Bell's Com. 629, 5th ed.; 9 East, R. 72. Vide Insurance.
INTEREST, evidence. The benefit which a person has in the matter about to be
decided and which is in issue between the parties. By the term benefit is
here understood some pecuniary or other advantage, which if obtained, would
increase the, witness estate, or some loss, which would decrease it.
2. It is a general rule that a party who has an interest in the cause
cannot be a witness. It will be proper to consider this matter by taking a
brief view of the thing or subject in dispute, which is the object of the
interest; the quantity of interest; the quality of interest; when an
interested witness can be examined; when the interest must exist; how an
interested witness can be rendered competent.
3.-1. To be disqualified on the ground of interest, the witness must
gain or lose by the event of the cause, or the verdict must be lawful
evidence for or against him in another suit, or the record must be an
instrument of evidence for or against him. 3 John. Cas. 83; 1 Phil. Ev. 36;
Stark. Ev. pt. 4, p. 744. But an interest in the question does not
disqualify the witness. 1 Caines, 171; 4 John. 302; 5 John. 255; 1 Serg. &
R. 82, 36; 6 Binn. 266; 1 H. & M. 165, 168.
4.-2. The magnitude of the interest is altogether immaterial, even a
liability for the most trifling costs will be sufficient. 5 T. R. 174; 2
Vern. 317; 2 Greenl. 194; 11 John. 57.
5.-3. With regard to the quality, the interest must be legal, as
contradistinguished from mere prejudice or bias, arising from relationship,
friendship, or any of the numerous motives by which a witness may be
supposed to be influenced. Leach, 154; 2 St. Tr. 334, 891; 2 Hawk. ch. 46,
s. 25. It must be a present, certain, vested interest, and not uncertain and
contingent. Dougl. 134; 2 P. Wms. 287; 3 S. & R. 132; 4 Binn. 83; 2 Yeates,
200; 5 John. 256; 7 Mass. 25. And it must have been acquired without fraud.
3 Camp. 380; l M. & S. 9; 1 T. R. 37.
6.-4. To the general rule that interest renders a witness
incompetent, there are some exceptions. First. Although the witness may have
an interest, yet if his interest is equally strong on the other side, and no
more, the witness is reduced to a state of neutrality by an equipoise of
interest, and the objection to his testimony ceases. 7 T. R. 480, 481, n.; 1
Bibb, R. 298; 2 Mass. R. 108; 2 S. & R. 119; 6 Penn. St. Rep. 322.
7. Secondly. In some instances the law admits the testimony of one
interested, from the extreme necessity of the case; upon this ground the
servant of a tradesman is admitted to prove the delivery of goods and the
payment of money, without any release from the master. 4 T. R. 490; 2 Litt.
R. 27.
8.-5. The interest, to render the witness disqualified, must exist at
the time of his examination. A deposition made at a time when the witness
had no interest, may be read in evidence, although he has afterwards
acquired an interest. 1 Hoff. R. 21.
9.-6. The objection to incompetency on the ground of interest may be
removed by an extinguishment of that interest by means of a release,
executed either by the witness, when he would receive an advantage by his
testimony, or by those who have a claim upon him when his testimony would be
evidence of his liability. The objection may also be removed by payment.
Stark. Ev. pt. 4, p. 757. See Benth. Rationale of Jud. Ev. 628-692, where he
combats the established doctrines of the law, as to the exclusion on the
ground of interest; and Balance.
INTEREST, MARITIME. By maritime interest is understood the profit of money
lent on bottomry or respondentia, which is allowed to be greater than simple
interest because the capital of the lender is put in jeopardy. There is no
limit by law as to the amount which may be charged for maritime interest. It
is fixed generally by the agreement of the parties.
2. The French writers employ a variety of terms in order to distinguish
if according to the nature of the case. They call it interest, when it is
stipulated to be paid by the month, or at other stated periods. It is a
premium, when a gross sum is to be paid at the end of the voyage, and here
the risk is the principal object they have in view. When the sum is a per
centage on the money lent, they call it exchange, considering it in the
light of money lent at one place to be returned in another, with a
difference in amount between the sum borrowed and that which is paid,
arising from the difference of time and place. When they intend to combine
these various shades into one general denomination, they make use of the
term maritime profit, to convey their meaning. Hall on Mar. Loans, 56, n.