in Scots Law. See LAW, No clxix. 1—3.
the law of England, has two significations; the one of which is an estate left, which continues during a particular estate in being; and the other is the returning of the land, &c. after the particular estate is ended; and it is further said to be an interest in lands, when the possession of it fails, or where the estate which was for a time parted with, returns to the granters, or their heirs. But, according to the usual definition of a reversion, it is the residue of an estate left in the granter, after a particular estate granted away ceases, continuing in the granter of such an estate.
The difference between a remainder and a reversion consists in this, that the remainder may belong to any man except the granter; whereas the reversion returns to him who conveyed the lands, &c.
In order to render the doctrine of reversions easy, we shall give the following table; which shows the present value of one pound, to be received at the end of any number The use of the preceding table.—To find the present value of any sum to be received at the end of a given term of years, discounting at the rate of 3, 4, or 5 per cent. compound interest. Find by the above table the present value of £1 to be received at the end of the given term; which multiply by the number of pounds proposed, (cutting off four figures from the product on account of the decimals), then the result will be the value sought: For example, the present value of £10,000.
| Years | Value at 5 per ct. | Value at 4 per ct. | Value at 3 per ct. | |-------|------------------|------------------|------------------| | 1 | .9524 | .9615 | .9709 | | 2 | .9270 | .9245 | .9426 | | 3 | .8638 | .8808 | .9151 | | 4 | .8227 | .8548 | .8885 | | 5 | .7835 | .8219 | .8626 | | 6 | .7462 | .7993 | .8375 | | 7 | .7107 | .7599 | .8131 | | 8 | .6768 | .7307 | .7894 | | 9 | .6446 | .7026 | .7664 | | 10 | .6139 | .6756 | .7441 | | 11 | .5847 | .6496 | .7224 | | 12 | .5568 | .6246 | .7014 | | 13 | .5303 | .6006 | .6829 | | 14 | .5051 | .5775 | .6611 | | 15 | .4810 | .5533 | .6419 | | 16 | .4581 | .5339 | .6232 | | 17 | .4363 | .5134 | .6050 | | 18 | .4155 | .4936 | .5874 | | 19 | .3957 | .4746 | .5703 | | 20 | .3769 | .4564 | .5537 | | 21 | .3589 | .4388 | .5375 | | 22 | .3418 | .4219 | .5219 | | 23 | .3255 | .4057 | .5067 | | 24 | .3100 | .3901 | .4919 | | 25 | .2953 | .3757 | .4776 | | 26 | .2812 | .3607 | .4637 | | 27 | .2678 | .3468 | .4502 | | 28 | .2551 | .3335 | .4371 | | 29 | .2429 | .3206 | .4243 | | 30 | .2314 | .3083 | .4120 | | 31 | .2204 | .2965 | .4000 | | 32 | .2099 | .2851 | .3883 | | 33 | .1999 | .2741 | .3770 | | 34 | .1903 | .2636 | .3660 | | 35 | .1813 | .2534 | .3554 | | 36 | .1726 | .2437 | .3450 | | 37 | .1644 | .2343 | .3350 | | 38 | .1566 | .2253 | .3252 | | 39 | .1491 | .2166 | .3158 | | 40 | .1420 | .2083 | .3066 |
Reversion, number of years not exceeding 40; discounting at the rate of 5, 4, and 3 per cent. compound interest.
The rate of interest is equal to \( \frac{6139}{10,000} = 6139\% \). Again, the present value of £10,000 due in ten years, the rate of interest being 3 per cent, is \( \frac{7441}{10,000} = 7441\% \).
Reversion of Series, in Algebra, a kind of reversed operation of an infinite series. See Series.