TAILIEUCHUNG - Gale Encyclopedia Of American Law 3Rd Edition Volume 4 P49

Gale Encyclopedia of American Law Volume 4 P49 fully illuminates today's leading cases, major statutes, legal terms and concepts, notable persons involved with the law, important documents and more. Legal issues are fully discussed in easy-to-understand language, including such high-profile topics as the Americans with Disabilities Act, capital punishment, domestic violence, gay and lesbian rights, physician-assisted suicide and thousands more. | FIXTURE 469 FIXED CHARGES Costs that do not vary with changes in output and would continue even if a firm produced no output at all such as most management expenses interests on bonded debt depreciation property taxes and other irreducible overhead. FIXTURE An article in the nature of personal property which has been so annexed to the realty that it is regarded as a part of the real property. That which is fixed or attached to something permanently as an appendage and is not removable. A thing is deemed to be affixed to real property when it is attached to it by roots imbedded in it permanently resting upon it or permanently attached to what is thus permanent as by means of cement plaster nails bolts or screws. Goods are fixtures when they become so related to particular real estate that an interest in them arises under real estate law . a furnace affixed to a house or other building counters permanently affixed to the floor of a store or a sprinkler system installed in a building. Fixtures possess the attributes of both real and personal property. Types Fixtures are generally classified as agricultural domestic ornamental or trade. Agricultural fixtures are articles that are annexed for the purpose of farming. Domestic and ornamental fixtures are objects that a tenant may attach to a unit in order to render it more habitable. Stoves shelves and lighting equipment are types of domestic fixtures. Ornamental fixtures include curtains chimney grates blinds and beds fastened to walls. Trade fixtures are articles affixed to rented buildings by merchants in order to pursue the business for which the premises are occupied. They encompass those items that merchants annex to the premises to facilitate the storage handling and display of their stock for sale to the public such as booths bars display cases and lights that are usually removable without material damage to the premises. The objective of this rule is to promote trade and industry. A tenant however has no right

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