Derivative(redirected from Derivatives)
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DERIVATIVE. Coming from another; taken from something preceding, secondary;
as derivative title, which is that acquired from another person. There is
considerable difference between an original and a derivative title. When the
acquisition is original, the right thus acquired to the thing becomes
property, which must be unqualified and unlimited, and since no one but the
occupant has any right to the thing, he must have the whole right of
disposing of it. But with regard to derivative acquisition, it may be
otherwise, for the person from whom the thing is acquired may not have an
unlimited right to it, or he may convey or transfer it with certain
reservations of right. Derivative title must always be by contract.
2. Derivative conveyances are, those which presuppose some other precedent conveyance, and serve only to enlarge, confirm, alter, restrain, restore, or transfer the interest granted by such original conveyance, 3 Bl. Com. 321.