Adequate Assurance - Law Dictionary Search Results
Home Dictionary Name: adequate assuranceAdequate assurance
Adequate assurance, in relation to bankruptcy means, evidence that a debtor will probably be able to perform its obligations under a contract such as the posting of a bond or a showing that the debtor will generate sufficient income to pay any arrearages and future payment obligations, Black Law Dictionary, 7th Edn., p. 40....
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
warrant
warrant [Anglo-French warant garant protector, guarantor, authority, authorization, of Germanic origin] 1 : warranty [an implied of fitness] 2 : a commission or document giving authority to do something: as a : an order from one person (as an official) to another to pay public funds to a designated person b : a writ issued esp. by a judicial official (as a magistrate) authorizing an officer (as a sheriff) to perform a specified act required for the administration of justice [a of arrest] [by of commitment] administrative warrant : a warrant (as for an administrative search) issued by a judge upon application of an administrative agency anticipatory search warrant : a search warrant that is issued on the basis of an affidavit showing probable cause that there will be certain evidence at a specific location at a future time called also anticipatory warrant arrest warrant : a warrant issued to a law enforcement officer ordering the officer to arrest and bring the person named i...
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