Absolute Property - Law Dictionary Search Results
Home Dictionary Name: absolute property Page: 2 Page 2 of about 54 results (0.003 seconds)Gift, 'transfer of property
Gift, 'transfer of property', the definition of 'gift' makes it clear that there has to be a transfer by one person to another of movable or immovable property; such transfer has to be voluntary and without consideration in money or money's worth. What is, therefore, absolutely essential for the purposes of a gift is a transfer of property. 'Transfer of property' is defined for the purposes of the Gift-tax Act as any disposition or conveyance, or assignment or settlement or delivery or payment or other alienation of property, C.G.T. v. T.M. Louiz, (2000) 7 SCC 486: AIR 2000 SC 3136 (3138). [Gift-tax Act, 1958, ss. 2(xii) & (xxiv), 3 and 4]...
Equity to a settlement (Wife's)
Equity to a settlement (Wife's). Prior to the Married Women's Property Acts (see MARRIED WOMEN'S PROPERTY), the law permitted a husband to possess himself absolutely of the whole of his wife's personal property and the rents and profits, during the coverture, of her realty; the consequence of which was that the wife, however great her fortune, might be left destitute. Whenever, therefore, he or any person claiming in his right was obliged to come into a Court of Equity for the recovery of the wife's property, the Court, as the price of its assistance, required him to make a settlement of some portion of it in favour of the wife and her children, the rule being to settle one-half in ordinary cases, but the whole if the husband were insolvent or had deserted his wife or there had been a dissolution of marriage on the ground of his adultery, Barrow v. Barrow, (1854) 5 De GM&G 782; Morgan v. Morgan, (1854) 2 Eq Rep 1270. The (English) Married Women's Property Act, 1882, by leaving a wife's...
Anticipation
Anticipation, doing or taking a thing before the appointed time. For anticipation of an invention see PATENTS. A married woman may be restrained by the terms of a will or settlement from aliening, by way of anticipation, property settled to her separate use during coverture. Such a clause absolutely disables her from selling, mortgaging or dealing with the property in anticipation, but it does not apply to income actually accrued due, Hood Barrs v. Heriot, 1896 AC 174, and on the determination of the coverture the restraint is at an end, Tullett v. Armstrong, (1839) 4 My&Cr 377; 1 Beav 1. Such a provision is only effective during coverture; it cannot affect dispositions in favour of a man, Brandon v. Robinson, (1871) 18 Ves 429, or a feme sole. The restraint may be applied either to corpus or income, usually only to the latter; in a marriage settlement the wife's income is almost invariably directed to be paid to her, without power of anticipation.' The L.P. Act, 1925, s. 169, repeatin...
Hire-purchase system
Hire-purchase system. A system whereby the owner of goods lets them on hire for periodic payments by the hirer upon an agreement that when a certain number of payments have been completed, the absolute property in the goods will pass to the hirer, but so that the hirer may return the goods at any time without any obligation to pay any balance of rent accruing after return, until the conditions have been fulfilled, the property remains in the owner. The instrument by which the hire-purchase is effected does not ordinarily require registration under the Bills of Sale Acts [Ex parte Crawcour, (1878) 9 Ch D 419]; and the hirer is 'reputed owner' within the Bankruptcy Act [Ex parte Brooks, (1993) 23 Ch D 261]; but the hirer does not 'agree to buy' within the Factors Act or Sale of Goods Act so as to be able to sell or pledge the goods as if he were a 'mercantile agent', Helby v. Matthews, 1895 AC 471; Brooks v. Biernstein, (1909) 1 KB 98. Distinguish from agreements such as in Lee v. Butler...
Mutuum
Mutuum, a loan whereby the absolute property in the thing lent passes to the borrower, it being for consumption, and he being bound to restore, not the same thing, but other things of the same kind. Thus, if corn, wine, money, or any other thing which is not intended to be returned, but only an equivalent in kind, is lost or destroyed by accident, it is the loss of the borrower; for it is his property, and he must restore the equivalent in kind; the maxim ejus est periculum cujus est dominium applying to such cases.In a mutuum the property passes immediately from the mutuant or lender to the mutuary or borrower, and the identical thing lent cannot be recovered or redemanded, Jones on Bailm. 64...
Documents (aircraft)
Documents (aircraft), means any certificate of registration, maintenance or airworthiness, log books and any similar document, Civil Aviation Act, 1982, s. 88(10) (UK) Halsbury's Laws of England (2) , para 1183, p. 576.Includes information recorded in any form and, in relation to information recorded otherwise than in legible form, reference to its production include references to producing a copy of the information in legible form, Banking Act, 1987, s. 106(1) (UK) Halsbury's Laws of England (2), para 35, p. 31.Given by way of charge is a document which only gives a right to payment out of a particular fund or property, and does not absolutely transfer the fund or property, Tancred v. Delagoa Bay and East Africa Rly. Co., (1889) 23 QBD 239 DC...
Convict
Convict, a person found guilty of a crime or offence alleged against him, either by a verdict of a jury or other legal decision. The (English) Forfeiture Act, 1870 (33 & 34 Vict. c. 23), for abolishing forfeitures for treason and felony enables the Crown to appoint administrators of the Property of any convict sentenced to death or penal servitude for any treason or felony. The administrator has an absolute discretionary power of dealing with the convict' property, Carr v. Anderson, (1903) 2 Ch 279....
Married women's property
Married women's property, At Common Law, a woman, by marrying, transferred the ownership of all her property, real and personal, present and future, to her husband absolutely, so that he might sell, pay his debts out of, give away, or dispose by will of it as he pleased, with these exceptions and modifications:-1) Her freehold estate became his to manage and take the profits of during the joint lives only. After his death, leaving her surviving, it passed to her absolutely; after her death, leaving him surviving, provided that it was an estate in possession and issue who could in her it had been born during the marriage, it passed to him as 'tenant by the curtesy (q.v.) of England,' during his life, and after his death to her heir-at-law.(2) Her leasehold estate, her personal estate in expectancy, and the debts owing to her and other 'choses in action,' became his absolutely if he did some act to appropriate or reduce them into possession during the marriage, or if he survived her. If ...
Personal property
Personal property, money, goods, cattle, chattels, stocks, shares, securities, debts, etc., and also leases for years, however long. Personal property is either in possession, or in action, where a man has not the actual occupation of the thing, but only a right to it arising upon some contract, and recoverable by an action at law.Any person may assign personal property, including chattels real, directly to himself and another person or other persons or corporation, by the like means as he might assign the same to another, Law of Property Amendment Act, 1859, s. 21.This was extended by the (English) Emergency Act, 1881, to conveyances of freehold land or choses in action by a husband to a wife or e contra. Now, by the (English) Law of Property Act, 1925, s. 72, a person may convey real or personal property to himself alone.In the case of real property there can be no such thing as an absolute ownership in the subject-matter, i.e., land; the utmost that any one, even an owner in fee sim...
Pawn or Pledge
Pawn or Pledge [fr. pignus, Lat.], a bailment of goods by a debtor to his creditor, to be kept till the debt is discharged.A mortgage of goods is in the Common Law distinguishable from a mere pledge or pawn. By a mortgage the whole legal title passes conditionally to the mortgagee; and if the goods be not redeemed at the stipulated time, the title becomes absolute at law although equity allows a redemption. But in a pledge, a special property only passes to the pledgee, the general property remaining in the pledgor. Also, in the case of a pledge, the right of a pledgee is not consummated, except by possession; and, ordinarily, when that possession is relinquished, the right of the pledgee is extinguished or waived. But, in the case of a mortgage of personal property the right of property passes by the conveyance to the mortgagee, and the possession is not or may not be essential to create or support the title.As to things which may be the subject of pawn: These are, ordinarily, goods a...
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