executed license

executed license
An irrevocable license in real property. 33 Am J1st Lic § 99. A license in return for which the licensee has paid a consideration to the licensor, or upon the faith and in consequence of which the licensee has made valuable improvements or expended money or invested capital. Flickinger v Shaw, 87 Cal 126, 25 P 268.

Ballentine's law dictionary. . 1998.

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