REDEMPTION, contracts. The act of taking back by the seller from the buyer a thing which had been sold subject to th right of repurchase.
2. The right of redemption then is an agreement by which the seller reserves to himself the power of taking back the thing sold by returning the price paid for it. As to the fund out of which a mortgaged estate is to be redeemed1, see Payment. Vide Equity2 of redemption.
REDEMPTIONES. Heavy fines, contradistinguished from misericordia. (q. v.)
REDHIBITION, civil law, and in Louisiana. The avoidance of a sale on account of some vice3 or defect in the thing sold, which renders it absolutely useless, or its use so inconvenient4 and imperfect, that it must be supposed that the buyer would not have purchased it, had he known of the vice. Civ. Code of Lo. 2496. Redhibition is also the name of an action which the purchaser of a defective5 movable thing may bring to cause the sale to be annulled7, and to recover the price he has paid for it. Vide Dig. 21, 1.
2. The rule of caveat8 emptor, (q. v.) in the common law, places a purchaser in a different position from his situation under the like circumstances under the civil law; unless there is an express warranty9, he can seldom annul6 a sale or recover damages on account of a defect in the thing sold. Chitty, Contr. 133, et seq.; Sugd. Vend10. 222 2 Kent, Com. 374; Co. Litt. 102, a; 2 B1. Com. 452; Bac. Ab. Action on the case, E; 2 Com. Cont. 263.
REDIDIT SE, Eng. practice. He surrendered himself. This is endorsed11 on the bail12 piece when a certificate has been made by the proper officer that the defendant13 is in custody14. Pr. Reg. 64; Com. Dig. Bail Q 4.
REDITUS ALBI. A rent payable15 in money; sometimes called white rent or, blanche farm. Vide Alba firma.
REDITUS NIGRI. A rent payable in grain, work, and the like; It was also called black mail. This name was given to it to distinguish it from reditus albi, which was payable in money. Vide Alba firma.
RE-DRAFT, comm. law. A bill of exchange drawn16 at the place where another bill was made payable, and where it was protested, upon the place where the first bill was drawn, or when there is no regular commercial intercourse17 rendering18 that practicable, then in the next best or most direct practicable course. 1 Bell's Com. 406, 5th ed. Vide Reexchange.
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