in Scots Law. See LAW, No. clxix
1—3.
the law of England, has two signifi- cations; the one of which is, an estate left, which con- tinues during a particular state 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 grant- ers, or their heirs. But, according to the usual defini- tion of a reversion, it is the residue of an estate left in the grantor, after a particular estate granted away ceases, continuing in the grantor 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 grantor; 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 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.
| Value at | Value at | Value at | |----------|----------|----------| | per ct. | per ct. | per ct. | | 1 | 9524 | 9615 | 9709 | | 2 | 9270 | 9245 | 9426 | | 3 | 8638 | 8898 | 9151 | | 4 | 8227 | 8548 | 8885 | | 5 | 7835 | 8219 | 8626 | | 6 | 7462 | 7929 | 8375 | | 7 | 7107 | 7599 | 8131 | | 8 | 6768 | 7327 | 7894 | | 9 | 6446 | 7026 | 7664 | | 10 | 6139 | 6756 | 7441 | | 11 | 5847 | 6496 | 7224 | | 12 | 5508 | 6246 | 7014 | | 13 | 5232 | 6006 | 6809 | | 14 | 5051 | 5775 | 6611 | | 15 | 4810 | 5553 | 6419 | | 16 | 4581 | 5339 | 6232 | | 17 | 4365 | 5134 | 6050 | | 18 | 4155 | 4930 | 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 |