This case has been cited 1 times or more.
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2006-11-24 |
CORONA, J. |
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| "A right is vested when the right to enjoyment has become the property of some particular person or persons as a present interest."[11] It is unalterable, absolute, complete and unconditional.[12] This right is perfect in itself; it is not dependent upon a contingency.[13] The concept of "vested right" expresses a "present fixed interest which in right reason and natural justice is protected against arbitrary state action."[14] It includes not only legal and equitable title to the enforcement of a demand but also exemptions from new obligations created after the right has become vested.[15] | |||||