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Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
To purchase back; to regain, as mortgaged property by paying what is due; to receive back by paying the obligation.
Miller v. Ratterman, 47 Ohio St. 156, REDEMPTION (Lat. re, ^ack, emptio t a purchase).
A purchase back by the seller from the buyer. It is applied to denote the performance of th£ conditions upon performance of which a conditional sale is to become ineffective as a transfer of title, or, more strictly, a right to demand a reconveyance becomes vested in the seller. In the case of mortgages, this right is a legal right until a breach of conditions, when it becomes an equitable right, and is called the equity of redemption.
See Mortgage; Equity of Redemption; [1914] A. C. 25. REDEMPTI0NES (Lat.).
Heavy fines
Distinguished from Misericordia* which see.