Soundness

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SOUNDNESS. In usual health; without any permanent disease. 1 Carr. & Marsh. 291. To create unsoundness, it is requisite that the animal should not be useful for the purpose for which he is bought, and that inability to be so useful should arise from disease or accident. 2 M. & Rob. 137; 9 M. & W. 670. 2 M. & Rob. 113.
     2. In the sale of slaves and animals they are sometimes warranted by the seller to be sound, and it becomes important to ascertain what is soundness. Roaring; (q.v.) a temporary lameness, which renders a horse less fit for service; 4 Campb. 271; sed vide 2 Esp. Cas. 573; a cough, unless proved to be of a temporary nature; 2 Chit. R. 245, 416; and a nerved horse, have been held to be unsound. But cribbiting is not a breach of a general warranty of soundness. Holt, Cas. 630.
     3. An action on the case is the proper remedy for a verbal warrant of soundness. 1 H. Bl. R. 17; 3 Esp. 82; 9 B. & Cr. 259; 2 Dow. & Ry. 10; 1 Bing. 344; 5 Dow. & R. 164; 1 Taunt. 566; 7 East, 274; Bac. Ab. Action on the Case, E.

References in periodicals archive ?
SEC-regulated firms generally are not subject to capital and liquidity standards or to regular safety and soundness examinations. (12) And aside from a general prohibition on accepting federally insured consumer deposits, securities firms generally are not subject to activity restrictions, as are banks.
This information is used primarily to conduct community and midsize bank safety and soundness examinations.
Interagency Policy Statement on Coordination and Communication Between External Auditors and Examiners details information that depository institutions should provide to their auditors, as well as meetings that should be held between auditors and examiners in connection with safety and soundness examinations.
"The Washington Division of Credit Unions already has been examining for federal consumer protection and regulatory compliance as part of its safety and soundness examinations" said Jekel, who sits on the NASCUS board.