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1. A sleeveless garment, often having buttons down the front, worn usually over a shirt or blouse and sometimes as part of a three-piece suit.
2. A waist-length, sleeveless garment worn for protection: a warm down vest; a bulletproof vest.
3. A fabric trim worn to fill in the neckline of a woman's garment; a vestee.
4. Chiefly British An undershirt.
5. Obsolete An ecclesiastical vestment.
v. vest·ed, vest·ing, vests
1. To place (authority, property, or rights, for example) in the control of a person or group, especially to give someone an immediate right to present or future possession or enjoyment of (an estate, for example). Used with in: vested his estate in his daughter.
2. To invest or endow (a person or group) with something, such as power or rights. Used with with: vested the council with broad powers; vests its employees with full pension rights after five years of service.
3. To clothe or robe, as in ecclesiastical vestments.
1. To become legally vested: stock options that vest after the second year of employment.
2. To dress oneself, especially in ecclesiastical vestments.

[French veste, robe, from Italian vesta, from Latin vestis, garment; see wes- in Indo-European roots.]


(Law) law the act of conferring a right upon (someone) which is immediately secured


(ˈvɛs tɪŋ)

the granting to an employee of the right to pension benefits despite retirement before the usual time or age.
References in periodicals archive ?
The rule against perpetuities does not apply under Illinois law if the trust so states, and the power of the trustee to sell property is not limited by the trust instrument.
Therefore, critics of the proposed amendment to the LL/TE statute should be assured that the rule against perpetuities will not be violated if the law is amended.
abolish the Rule Against Perpetuities, the pertinent features of the
1881) (noting that the English common law, including the "great" rule against perpetuities, was adopted by the California Legislature in 1850, thus becoming a part of that state's common law).
98) The product has been the rule against perpetuities, which has been deemed to further both efficiency and equity interests.
In addition, a growing number of jurisdictions, including New Jersey, Delaware, Alaska, South Dakota, Wisconsin, and Idaho have abolished the rule against perpetuities.
To obtain maximum advantage, it might be desirable to have the trust created in a jurisdiction with no rule against perpetuities, so that the trust can last indefinitely.
The Act abolished Alaska's rule against perpetuities and authorized the creation of self-settled spendthrift trusts.
Chapters cover intestacy, wills, construction of wills, nonprobate transfers and planning for incapacity, restrictions on the power of disposition, trusts, right to distributions from the trust fund, the fiduciary obligation of trust administration, charitable trusts, powers of appointment in trusts, construction of trusts, the rule against perpetuities and trust duration, and wealth transfer taxation.
The optimal trust term to defer transfer taxes is a trust that will end on the expiration of the period established by the Rule Against Perpetuities.
129) The changes range from the reforms of the Uniform Statutory Rule Against Perpetuities (USRAP),(130) to repeal of the Rule, to one degree or another, in Alaska,(131) Delaware,(132) South Dakota(133) and other jurisdictions.
The perpetuities period is a reference to a universal trust rule known as "the Rule Against Perpetuities.