Bare Act Search Results

Bills of Exchange Act, 1882 Complete Act

State: Central

Year: 1882

.....operates as notice that the agent has but a limited authority to sign, and the principal is only bound by such signature the agent in so signing was acting within the actual limit of his authority. SECTION 26: PERSON SIGNING AS AGENT OR IN REPRESENTATIVE CAPACITY (1) Where a person signs a bill as drawer, endorser or acceptor, and adds words to his signature, indicating that he signs for or on behalf of a principal, or in a representative character, he is not personally liable thereon ; but the mere addition to his signature of words describing him as an agent, or as filling a representative character, does not exempt him from personal liability. (2) In determining whether a signature on a bill is that of the principal or that of the agent by whose hand it is written, the construction most favourable to the validity of the instrument shall be adopted. SECTION 27: VALUE DEFINED (1) Valuable consideration for a bill may be constituted by- (a) any consideration sufficient to support a simple contract ; (b) an antecedent debt or liability. Such a debt or liability is deemed valuable consideration whether the bill is payable on demand or at a future time. (2) Where value.....

Powers of Attorney Act, 1882 Complete Act

State: Central

Year: 1882

.....as to trustees, executors and administrators making payments under powers, which has been in force in British India for the last fifteen years-See Act 28 of 1866,section 39. The third and last object of the Bill is to provide for the deposit of instruments creating powers of attorney, and for the evidence of the contents of such instruments. The section effecting this is copied (with the modifications necessary to adapt it to India) from 44 and 45 Vict. c. 41,section 48 ."-Gazette of India, 1881, Part V, page 1473. Amending Act 55 of 1982.- The Law Commission in its Sixty -Eighth Report examined the Powers-of-Attorney Act, 1882and while suggesting that because of its archaic form and language it should be replaced by a new enactment, it also suggested certain amendments to the Act. As the amendments do not call for any radical or substantial changes in the Act which had worked smoothly for a century, it is proposed, instead of replacing the Act by a new one, to make the necessary amendments therein. 2. The Act though it deals with powers-of-attorney, does not contain the definition of '''power-of-attorney". It is proposed to remedy this defect by inserting a suitable.....

Presidency Small Cause Courts Act, 1882 Complete Act

State: Central

Year: 1882

.....officer appointed under this Act shall, during his continuance as such Judge or officer, either by himself or as a partner of any other person, practice or act, either directly or indirectly, as an advocate, attorney, vakil or other legal practitioner or be concerned, either on his own account of for any other person, or as the partner of any other person, in any trade or profession. Any such Judge or officer so practicing, acting or concerned shall be deemed o have committed an offence under section 168 of the Indian Penal Code (XLV of 1860) Nothing herein contained shall be deemed to prohibit any such Judge or officer from being a member of any company incorporated or registered under Royal Charter, Letters Patent, 1[Act of Parliament of the United Kingdom or Central Act or Provincial Act or 2[State Act]. CHAPTER 03: LAW ADMINISTERED BY THE COURT SECTION 16: QUESTION ARISING IN SUITS, ETC. UNDER ACT TO BE DECIDED ACCORDING TO LAW ADMINISTERED BY HIGH COURT All questions, other than questions relating to procedure or practice, which arise in suits or other proceedings under this Act in the Small Cause Court shall be dealt with and determined according to the law for the.....

Indian Trusts Act, 1882 Chapter III

Title: Of the Duties and Liabilities of Trustees

State: Central

Year: 1882

.....the Slate Government of Bombay]; 15[(d) in debentures or other securities for money issued, under the authority of16[any Central Act or Provincial Act or State Act], by or on behalf of any municipal body, port trust or city improvement trust in any Presidency-town, or in Rangoon town, or by or on behalf of the trustees of the port of Karachi:] 17[Provided that after the 31st day of March, 1948, no money shall be invested in any securities issued by or on behalf of a municipal body, port trust or city improvement trust in Rangoon town, or by or on behalf of trustees of the port of Karachi:] (e) On a first mortgage of immovable property situate in18[any part of the territories to which this Act extends]: Provided that the property is not a leasehold for a term of years and that the value of the property exceeds by one-third, or, if consisting of buildings, exceeds by one-half, the mortgage-money; 19[* * *] 20[(ee) in units issued by the Unit Trust of India under any unit scheme made under section 21 of the Unit Trust of India Act, 1963; or] (f) on any other security expressly authorized by the instrument of trust,21[or by the Central Government by the notification in.....

Indian Trusts Act, 1882 Section 15

Title: Care Required from Trustee

State: Central

Year: 1882

.....with the trust-property as carefully as a man of ordinary prudence would deal with such property if it were his own; and, in the absence of a contract to the contrary, a trustee so dealing is not responsible for the loss, destruction or deterioration of the trust-property. Illustrations (a) A, living in Calcutta, is a trustee for B, living in Bombay, A remits trust-funds to B by bills drawn by a person of undoubted credit in favour of the trustee as such, and payable at Bombay. The bills are dishonoured. A is not hound to make good the loss. (b) A, trustee of leasehold property, directs the tenant to pay the rents on account of the trust to a banker, B, then in credit. The rents a re accordingly paid to B, and A leaves the money with B only till wanted. Before the money is drawn out, B becomes insolvent. A, having had no reason to believe that B was in insolvent circumstances, is not bound to make good the loss. (c) A, a trustee of two debts for B, releases one and con: pounds the other, in good faith, and reasonably believing that it is for B's interest to do so. A is not bound to make good any loss caused thereby to B. (d) A, a trustee directed to sell the.....

Trusts Act, 1882 Complete Act

State: Central

Year: 1882

.....known it, or when information of the fact is given to or obtained by his agent, under the circumstances mentioned in the section 229 Indian Contract Act, 1872 (9 of 1872)-, ; and all expressions used herein and defined in the Indian Contract Act, 1872 (expressions defined in Act 9 of 1872), shall be deemed to have the meanings respectively attributed to them by that Act. SECTION 04: LAWFUL PURPOSE. A trust may be created for any lawful purpose. The purpose of a trust is lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful, and the two purposes, cannot be separated, the whole trust is void. SECTION 05: TRUST OF IMMOVABLE PROPERTY No trust in relation to immoveable property is valid unless declared by a non-testamentary instrument in writing signed by the author of the trust or the.....

Indian Trusts Act, 1882 Preamble 1

Title: Indian Trusts Act, 1882

State: Central

Year: 1882

Preamble 1 - INDIAN TRUSTS ACT, 1882 THE INDIAN TRUSTS ACT, 18821 [Act, No. 2 of 1882] [13th January, 1882] PREAMBLE An Act to define and amend the law relating to Private Trusts and Trustees. WHEREAS it is expedient to define and amended the law relating to private trusts and trustees; It is hereby enacted as follows:-- ________________________ 1. For Report of the Indian Law Commission on the Private Trusts Bill which they were instructed to consider among others, see Gazette of India, 1880, Supplement, p.104; and for the Statement of Objects and Reasons, see Gazette of India, 1880, Pt. V.P. 476; for Report of the Select Committee, see Gazette of India, Supplement, 1881, p. 766; for further Report of the Select Committee, see Gazette of India, Supplement 1882, p.67; for Proceedings in Council see Gazette of India, supplement, 1881, p. 687; and Gazette of India, Supplement, 1882, p.68.The Act has been extended to Berar by Act 4 of 1941; Dadra and Nagar Haveli by Regulation 6 of 1963, section. 2 and Schedule. 1; Pondicherry by Regulation 7 of 1963, section. 3 and Schedule. I; and Goa, Daman and Diu by Regulation 11 of 1963, section. 3 and Schedule......

Transfer of Property Act, 1882 Section 137

Title: Saving of Negotiable Instruments, Etc

State: Central

Year: 1882

Nothing in the foregoing sections of this Chapter applies to stocks, shares or debentures, or to instruments which are for the time being, by law or custom, negotiable, or to any mercantile document of title to goods. Explanation. The expression "mercantile document of title to goods" includes a bill of lading, dock- warrant, warehouse-keeper's certificate, railway receipt, warrant or order for the delivery of goods, and any other document used in the ordinary course of course of business as proof of the possession or control of goods, or authorizing or purporting to authorize, either by endorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented.

The Transfer of Property Act, 1882 Complete Act

State: Central

Year: 1882

.....for relief, whether such debt or beneficial interest be existent, accruing, conditional or contingent;] 17 ["a person is said to have notice" of a fact when he actually knows that fact, or when, but for wilful abstention from an enquiry or search which he ought to have made, or gross negligence, he would have known it. Explanation 1. "Where any transaction relating to immovable property is required by law to be and has been effected by a registered instrument, any person acquiring such property or any part of, or share or interest in, such property shall be deemed to have notice of such instrument as from the date of registration or, where the property is not all situated in one sub-district, or where the registered instrument has been registered under sub-section (2) of section 30 of the Indian Registration Act, 1908 (16 of 1908), from the earliest date on which any memorandum of such registered instrument has been filed by any Sub-Registrar within whose sub-district any part of the property which is being acquired, or of the property wherein a share or interest is being acquired, is situated:] Provided that " (1) the instrument has been registered and its registration.....