16:06
im ready to cook senior year and then hopefully move to Malibu :)
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LSDefine
Simple English definitions for legal terms
particular successor
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A quick definition of particular successor:
A particular successor is someone who takes over the rights and responsibilities of another person or company, but only for a specific thing or property. For example, if someone inherits a house from their parents, they are a particular successor to that property. This is different from a universal successor, who takes over all the rights and responsibilities of the previous owner, such as in the case of an inheritance of an entire estate.
A more thorough explanation:
A particular successor is a person who succeeds to the rights and obligations that pertain only to the property conveyed. This is different from a universal successor, who succeeds to all the rights and powers of a former owner.
- John inherits his grandfather's house. He is a particular successor because he only succeeds to the rights and obligations that pertain to the house, not to any other property his grandfather owned.
- When a corporation is dissolved, its assets are distributed to its statutory successors according to the laws of the state of incorporation. The statutory successor is a particular successor because they only succeed to the assets of the dissolved corporation, not to any other assets.
These examples illustrate how a particular successor only succeeds to specific rights and obligations, rather than to all of the rights and powers of a former owner or corporation.