Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Black's Law Dictionary: 2nd Edition

    The act or agreement of assuming or taking upon one's self; the undertaking or adoption of a debt or obligation primarily resting upon another, as where the purchaser of real estate "assumes" a mortgage resting upon it, in which case he adopts the mortgage debt as his own and becomes personally liable for its payment. Eggleston v. Morrison. 84 III. App. 631; Locke v. Homer, 131 Mass. 93, 41 Am. Rep. 199; Springer v. De Wolf, 194 III. 218, 62 N. E. 542, 56 In R. A. 465, 88 Am. St Rep. 155; Lenz v. Railroad Co., Ill Wis. 198, 86 N. W. 607. The difference between the purchaser of land assuming a mortgage on it and simply buying subject to the mortgage, is that in the former case he makes himself personally liable for the payment of the mortgage debt, while in the lat ter case he does not. Hancock v. Fleming, 103 Ind 533, 3 N. E. 254; Braman v. Dowse, 12 Cush. (Mass.) 227. Where one "assumes" a lease, he takes to himself the obligations, contracts, agreements, and benefits to which the other Contracting party was entitled under the terms of the lease. Cincinnati, etc., R. Co. v. Indiana, etc., R. Co.., 44 Ohio St. 287, 314, 7 N. El 152.
    —Assumption of risk. A term or condition in a contract of employment, either express or implied from the circumstances of the employment, by which the employe agrees that dangers of injury ordinarily or obviously incident to the discharge of his duty in the particular employment shall be at his own risk. Narramore v. Railway Co., 96 Fed, 301, 37 C. C. A. 499, 48 L. R. A. 68; Faulkner v. Mining Co., 23 Utah, 437, 66 Pac. 799; Railroad Co. v. Touney, 67 Ark. 209, 54 S. W. 577, 77 Am. St. Rep. 109; Bodie v. Railway Co., 61 S. C. 468, 39 S. El 715; Martin v. Railroad Co., 118 Iowa, 148, 91 N. W. 1034, 59 In R. A. 698, 96 Am. St. Rep. 371.