Friday, March 8, 2013

Dictionary Lesson 101 What is Cession Money?

Letter To Inform That the Cession Money (Not rent) Has Been Forwarded.

What is Cession?
The act of cession is the assignment of property to another entity. In international law it commonly refers to land transferred by treaty. Ballentine's Law Dictionary defines cession as "a surrender a giving up, a relinquishment of jurisdiction by a board in favor of another agency.

In 1790, the U.S. states of Maryland and Virginia both ceded land to create the District of Columbia
Territory can also be ceded for payment, such as in the Louisiana Purchase and Alaska Purchase.

Alaska Purchase
The Alaska Purchase was the acquisition of the Alaska territory by the United States from the Russian Empire in the year 1867 by a treaty ratified by the Senate.
Russia, fearing a war with Britain that would allow the British to seize Alaska, wanted to sell. Russia's major role had been forcing Native Alaskans to hunt for furs, and missionary work to convert them to Christianity. The United States added 586,412 square miles (1,518,800 km2) of new territory. Originally organized as the Department of Alaska, the area was successively the District of Alaska and the Alaska Territory before becoming the modern state of Alaska upon being admitted to the Union as a state in 1959.

Louisiana Purchase
The Louisiana Purchase (French: Vente de la Louisiane "Sale of Louisiana") was the acquisition by the United States of America in 1803 of 828,000 square miles (2,140,000 km2) of France's claim to the territory of Louisiana. The U.S. paid 50 million francs ($11,250,000) plus cancellation of debts worth 18 million francs ($3,750,000), for a total sum of 15 million dollars (less than 3 cents per acre) for the Louisiana territory ($233 million in 2012 dollars, less than 42 cents per acre).


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