Encyclop?dia of Accounting, Vol. 3 (Classic Reprint)

Excerpt from Encyclopdia of Accounting, Vol. 3<br><br>Farthing. - The word farthing or fourth thing was originally the fourth part of a silver penny, and was first struck as a separate coin in the reign of Henry I. Copper farthings were introduced in 1613 in the reign of James I., who brought the idea from Scotland. Copper farthings were continued until 1860, when the bronze coinage now current was adopted. The bronze farthing weighs 43-75 grains, and is legal tender to the extent of Is.<br><br>F.A.S. - Contraction for "free alongside ship," meaning that the goods referred to are to be delivered for the price quoted alongside the ship or on the quay, but not put on board. In the latter case they would be quoted "F.O.B.": free on board.<br><br>F.C.S. - This is a contraction for "free of capture and seizure," and appears in "slips" for policies of marine insurance, to denote that the insurer is not liable for loss or damage to the goods or ship arising from capture and seizure.<br><br>Fee is the term used to indicate any estate in land of inheritance, that is, any estate greater than life ownership. Tenancy in fee-simple is the largest estate in land recognised by the law of England, for theoretically the absolute dominion of land is in the Crown. Such an estate is descendible to all heirs-general in the order enacted by the Inheritance Act 1833.<br><br>Fee-tail which means an estate descendible to heirs of the body only, unless the entail is barred - has had in England a long and curious history, beginning with the statute De Donis Conditionalibus 1285, and reaching down to the Fines and Recoveries Act 1833. The present result is that any tenant in tail in possession can disentail without any consent by simply executing and enrolling a deed. A tenant in tail can bar the entail only by an executed and enrolled deed in his own lifetime. A mere contract to do so is invalid, as is also any attempt to do it by a testamentary document.<br><br>About the Publisher<br><br>Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com<br><br>This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.