15:52
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LSDefine
Simple English definitions for legal terms
possibility on a possibility
Read a random definition: clause of accrual
A quick definition of possibility on a possibility:
A possibility is something that might happen or might not happen. It can also mean having a chance to own something in the future. A naked possibility is just a small chance of owning something in the future, while a possibility coupled with an interest is a more certain chance. A remote possibility is when something depends on two or more uncertain things happening. It's like a possibility on top of another possibility.
A more thorough explanation:
Definition: Possibility on a possibility is a type of remote possibility where a limitation is dependent on two or more uncertain events or facts.
Example: A will states that a certain property will be inherited by John if he graduates from college and if he gets married. This is an example of a possibility on a possibility because John's inheritance is dependent on two uncertain events - his graduation and his marriage.
This type of possibility is also known as a double possibility. It is often used in legal documents such as wills and trusts to create conditions for the transfer of property or assets. It is important to note that the events or facts on which the possibility is dependent must be uncertain and contingent for it to be considered a possibility on a possibility.