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Legal Definitions - laudemium

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Definition of laudemium

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Simple Definition

Laudemium: A type of payment made to a landowner when someone takes over a piece of land through a gift, inheritance, exchange, or sale. The payment was equal to 2% of the purchase price and was made to show acceptance of the new owner. It used to be called "acknowledgment money" in old English law.

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Law school: Where you spend three years learning to think like a lawyer, then a lifetime trying to think like a human again.

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