Vest

io 1.

To clothe, robe; to cover, surround; to put something upon a person, confer upon, endow, put into the possession of, intrust to: as, to vest a person or a court with discretion, authority, power, jurisdiction.

3.

To give an immediate, fixed right, of present or future enjoyment.'^ ' United States v. Open Boat, 5 Mas. 187, 134 I Story, J. » King V. Greenway, 71 N. Y. 416 (1877), cases.

8 The Pioneer, 30 F. R. 208 (1886). < Chaffe II.

— Ludeling, 27 La. An. 611 (1875). 'Moores v. Louisville Underwriters, 14 F. R. 238 (1882); Raft of Cypress Logs, 1 Flip. 543 (1876). « [The Sally, 1 Gall. 59 (1812), Story, J. ' Hays V. Pacific Mail Steamship Co., 17 How. 598 (1864), Nelson, J. » The Strathairly, 124 U. S. 558 (1888). • The Fidelity, 16 Blatoh. 573 (1879), cases. A statute, deed, or will is said to vest an estate or property in a person, or to vest him with the estate, meaning to confer upon him ownership in the subject thereof; and an estate is said to vest, and to become yested, in a person when it becomes his property. A contract for the sale Qf ascertainecl goods " vests " the property immediately in the buyer, and the right to the price in the seller, unless that is not the intention.' Devest. To remove, take away, withdraw: as, to devest a person of authority, power, right, title to property. Opposed, invest. Divest is common, but' not approved. Adjudication in bankruptcy ipso facto devests the debtor of all rights of property. The repeal of a statute does not devest vested rights. See Repeal; Retrospective. Invest. To clothe. (1) To put a thing upon one;

— to confer, put into one's possession, convey the exercise of: as, to invest with discretion or authority. (2) To surround with, place in;

— to lay out money, or its equivalent, so as to produce an income;

— to put out money at interest. See further Invest. Vested. Not subject to a condition precedent or unperformed: as, a vested estate, interest, right; which may be either present or immediate, or even future but uncotitingent, and, therefore, transmissible, and may be qualified by a condition which does not delay the actual vesting. Other examples are " vested " legacies and remainders, qq. v. Opposed, contingent. An estate is vested when there is a person in being who will have an immediate right to the possession of the lands upon the ceasing of the intermediate or precedent estate; 2 — when there is an immediate right of present enjoyment, or a present fixed right of future enjoyment.' In the widest sense, vested rights are rights which are complete and consummated, so that nothing remains to be done to fix the right of the citizen to enjoy them.* See further Eight, 3 (2); Vested. I Hatch V. Standard Oil Co., 100 U. S. 134 (1879), cases. = Tayloe v. Gould, 10 Barb. 396 (1851), Parker, J.; 38 id. 367. 3 4 Kent, 203; 3 Sm. & M. 347. The law favors the vesting of estates, rather than their resting upon contingencies.*