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Satisfied Outstanding Term

Defined in 1 dictionary — Cyclopedic (1922)

The Cyclopedic Law Dictionary

Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

Where a long term had been created in had not released to the f reehold&, and the lease had not provided for its own extinguishment on the purpose becoming satisfied, the estate so remaining in the trustees was called a "satisfied outstanding term." It came to be a mode of protecting the rightful owner of the freehold, but the estate was abolished by 8 & 9 Vict. c. 112, § 2, and it never existed in the United States. 1 Washb. Real Prop. *311. SATIUS EST PETERE PONTES QUAM sectarl rivulos. It Is better to seek the fountain than to follow rivulets. 10 Coke, 118. It is better to drink at the fountain than to sip in the streams.