Anticipation

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Anticipation

The performance of an act or obligation before it is legally due. In patent law, the publication of the existence of an invention that has already been patented or has a patent pending, which are grounds for denying a patent to an invention that has substantially the same structure and function as the earlier invention.

In the law of Negligence, anticipation refers to the knowledge that there is a reasonable probability that the consequences of particular conduct of one individual will result in injury to others.

The anticipation of an invention also occurs if the later invention is merely an Adaptation of an earlier patent, which would be obvious to a skilled person who need only exercise some mechanical skill to develop the same adaptation.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

ANTICIPATION. The act of doing or taking a thing before its proper time.
     2. In deeds of trust there is frequently a provision that the income of the estate shall be paid by the trustee as it shall accrue, and not by way of anticipation. A payment made contrary to such provision would not be considered as a discharge of the trustee.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
THE USE of prepayment water meters violates a constitutional guarantee of equality and a right to water, a South African High Court ruled in April.
The technical term lenders use to capture this costly inconvenience is prepayment risk.
Nearly 380,000 homes in Wales are fitted with prepayment gas and electricity meters.
One of the main attractions of the direct prepayment strategy is its simplicity.
However, mutual fund investors are not able to get the prepayment protection available to REMIC bond investors who acquire classes of REMIC bonds that do not repay principal until classes with shorter maturities are fully repaid.
However, if prepayment speeds are higher or lower than expected, the actual performance of the TAC tranche will be affected, depending on its priority in the CMO structure and whether a PAC tranche is also present.
First, taxpayers observe a noisy signal regarding their true future income at the prepayment stage.
Many consumers aren't familiar with prepayment clauses.
In the context of the traditional TBA market, this adverse prepayment selection increases the probability that a TBA investor (who by definition is at the end of the "food chain") will be delivered a pool that is more negatively convex than the aggregate universe of pools with similar age and weighted average coupon (WAC).
Historically, one of the most widely used forms of mortgage pricing has involved merely computing the present value of future cash flows by assuming some static prepayment function and by using a discount rate equal to a T-note rate plus a spread.