conventional subrogation


conventional subrogation
A contract right of subrogation; subrogation founded upon some understanding or agreement, express or implied, and not arising merely from the equities of the situation. New York Ins. Co. v Tice, 159 Kan 176, 152 P 2d 836, 157 ALR 1233; a subrogation whereby the party paying does so at the request of either the debtor or the lienor, with the understanding that he, the party paying, shall be subrogated. Kocher v Kocher, 56 NJ Eq 547, 548, 39 A 536; a subrogation depending upon a lawful contract which occurs where one having no interest in or relation to the matter pays the debt of another, and by agreement is entitled to the securities and rights of the creditor so paid. 50 Am J1slt Subro § 3.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • subrogation — sub·ro·ga·tion /ˌsə brō gā shən/ n 1: an equitable doctrine holding that when a third party pays a creditor or obligee the third party succeeds to the creditor s rights against the debtor or obligor; also: a doctrine holding that when an… …   Law dictionary

  • conventional — con·ven·tion·al /kən ven chə nəl/ adj 1: based on, settled by, or formed by agreement: contractual compare judicial 2, legal 2c 2: of, like, or r …   Law dictionary

  • subrogation — The substitution of one person in the place of another with reference to a lawful claim or right against a third person. The principle that when one person has been compelled to pay a debt which ought to have been paid by another, he becomes… …   Ballentine's law dictionary

  • conventional — Depending on, or arising from, the mutual agreement of parties; as distinguished from legal, which means created by, or arising from, the act of the law. As to conventional estates conventional interest conventional mortgage conventional… …   Black's law dictionary

  • conventional — Depending on, or arising from, the mutual agreement of parties; as distinguished from legal, which means created by, or arising from, the act of the law. As to conventional estates conventional interest conventional mortgage conventional… …   Black's law dictionary

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