owner

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Related to Owners: Owners Equity

Owner

The person recognized by the law as having the ultimate control over, and right to use, property as long as the law permits and no agreement or Covenant limits his or her rights.

owner

n. one who has legal title or right to something. Contrary to the cynical adage: "Possession is nine-tenths of the law," possession does not necessarily make one a legal owner. (See: own)

owner

noun claimer, controller, holder, homeowner, householder, land owner, landlord, lessor, legitimate perron entitled to, master, occupier, person holding ownerrhip on record, possessor, property owner, proprietor, record-holder, retainer, title holder
Associated concepts: beneficial owner, co-owner, equiiable owner, general owner, gun owner, joint owners, owner of copyright, part owners, record owner, repeated owner
See also: director, employer, holder, lessor, principal, proprietor, shareholder, tenant

OWNER, property. The owner is he who has dominion of a thing real or personal, corporeal or incorporeal, which he has a right to enjoy and to do with as he pleases, even to spoil or destroy it, as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right.
     2. The right of the owner is more extended than that of him who has only the use of the thing. The owner of an estate may, therefore change the face of it; he may cut the wood, demolish the buildings, build new ones, and dig wherever he may deem proper, for minerals, stone, plaster, and similar things. He may commit what would be considered waste if done by another.
     3. The owner continues to have the same right although he perform no acts of ownership, or be disabled from performing them, and although another perform such acts, without the knowledge or against the will of the owner. But the owner may lose his right in a thing, if he permit it to remain in the possession of a third person, for sufficient time to enable the latter to acquire a title to it by prescription, or lapse of time. See Civil Code of Louis. B. 2, t. 2, c. 1; Encyclopedie de M. D'Alembert, Proprietaire.
     4. When there are several joint owners of a thing, as for example, of a ship, the majority of them have the right to make contracts in respect of such thing, in the usual course of business or repair, and the like, and the minority will be bound by such contracts. Holt, 586; 1 Bell's Com. 519, 5th ed. See 5 Whart. R. 366.

References in classic literature ?
Ut was savun' money on lighters tull the owner, an' I gave ut tull hum.
He was the owner of the lighter, an' when he hod told hus story, I says, 'I dudna see ony lighter.
If I were sole owner we'd shake hands on it now, my dear Dantes, and call it settled; but I have a partner, and you know the Italian proverb -- Chi ha compagno ha padrone --
On turning round the owner saw Danglars behind him, apparently awaiting orders, but in reality also watching the young sailor, -- but there was a great difference in the expression of the two men who thus followed the movements of Edmond Dantes.
This, sirs, is all I can say in answer to what you have asked me; and be sure that the owner of the articles you found is he whom you saw pass by with such nimbleness and so naked.
Because our firm typically represents owners, we draft agreements from the owner's perspective.
Business activities: In a tenancy in common, owners can participate in business activities.
Of the six million owners who will sell their business in this period, most will not take specific steps to ensure a smooth transition from their ownership.
Martin brilliantly shows that the system of slavery contained the elements for its own undoing through the triangular relationship between owners, hirers, and slaves and the divided mastery that hiring practices required.
A succession strategy supported by long-term transition financing puts business owners where they are accustomed to being--in control.
BUY-SELL AGREEMENTS LET OWNERS, or shareholders and a corporation, agree to the terms and conditions of a future sale to smooth the transfer of an ownership stake under certain triggering events.
Evidence from cooperating subjects revealed that shop owners also would advance paraphernalia to their larger drug customers and await payment until after the drugs were sold.