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Legal Definitions - profit

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Definition of profit

Profit

A profit is a legal right that allows someone to enter another person's land and take some of the natural resources found there. This can include things like fish, timber, sand, or crops.

  • A fisherman who has been granted a profit may enter someone else's lake and catch fish.
  • A logger who has been granted a profit may enter someone else's forest and cut down trees for timber.
  • A farmer who has been granted a profit may enter someone else's field and harvest crops.

These examples illustrate how a profit can be used to allow someone to use the natural resources found on someone else's land. It is important to note that a profit is a legal right that must be granted by the landowner, and it only allows the person with the profit to take specific resources.

The young man knows the rules, but the old man knows the exceptions.

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Simple Definition

Term: Profit

Definition: Profit is when someone is allowed to go onto someone else's land and take things that grow naturally there, like fish, trees, sand, or crops.

The young man knows the rules, but the old man knows the exceptions.

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If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.

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