Adequate Protection - Law Dictionary Search Results
Home Dictionary Name: adequate protectionadequate protection
adequate protection : such action as is judicially determined to protect a secured creditor's interest in property that is part of a bankrupt estate NOTE: The U.S. Bankruptcy Code offers a list of examples of actions that are predetermined to provide adequate protection. When a court finds that a secured creditor is not adequately protected, the creditor may obtain relief from the automatic stay from creditors' collection attempts that is effected by the debtor's filing for bankruptcy. ...
Adequate protection
Adequate protection, means the protection afforded to a holder of a secured claim against the debtor, such as a periodic cash payment or an additional lien e.g. bankruptcy court permitted the lender to foreclose on the debtor's home after finding a lack of adequate protection of the lender's properties interest. 11 USCA 361....
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...
bankruptcy
bankruptcy pl: -cies 1 : the quality or state of a bankrupt [filed for ] 2 : the administration of an insolvent debtor's property by the court for the benefit of the debtor's creditors [the debt was discharged in ] [ proceedings] see also adequate protection Bankruptcy Code in the Important Laws section compare insolvency, receivership NOTE: Bankruptcy protects the debtor from debt collection by creditors. A debtor may file for bankruptcy, which is called “voluntary bankruptcy,” or a creditor may petition the court to declare the debtor bankrupt, which is called “involuntary bankruptcy.” Involuntary bankruptcy is allowed only under chapter 7 or chapter 11 of the U.S. Bankruptcy Code. There are four types of relief available to individuals or corporations under the Bankruptcy Code: liquidation (chapter 7), reorganization (chapter 11), debt adjustment for a family farmer (chapter 12), and debt adjustment for an individual with a regular income (chapter 13). M...
class action
class action : an action in which a representative plaintiff sues or a representative defendant is sued on behalf of a class of plaintiffs or defendants who have the same interests in the litigation as their representative and whose rights or liabilities can be more efficiently determined as a group than in a series of individual suits called also class action suit class suit see also certification compare consolidate, joinder test case at case NOTE: Rule 23 of the Federal Rules of Civil Procedure sets out the prerequisites for having an action certified as a class action in federal court. Section (a) permits a class action if “(1) the class is so numerous that joinder of all members is impracticable, (2) there are questions of law or fact common to the class, (3) the claims or defenses of the representative parties are typical of the claims or defenses of the class, and (4) the representative parties will fairly and adequately protect the interests of the class.” If th...
Closure
Closure. See CLOTURE. Means the permanent closing down of a place of employment or part thereof. [The Industrial Disputes Act, 1947 (14 of 1947), s. 2 (cc)]Closure, in the House of Commons a member may rise in his place and move 'That the question be now put'. That question must be put forthwith, without amendment or debate, unless it appears to the chair that the motion is an abuse of the Rules of the House or an infringement of the rights of minority, Parliamentary Practice, Erskine May, 22nd Edn., 1997, p. 407.Means closing, closed condition, Concise Oxford Dictionary, H.W. Fowler & F.G. Fowler, p. 226.In Indian Parliament in order to bring a debate to a close, a member may rise and move 'That the question be now put'. The acceptance of a closure motion lies within the sole discretion of the Speaker. Before he accepts it, he considers whether the question before the House has received adequate debate or not, whether or not the views of opposition have been adequately expressed befor...
Letters-patent, or letters overt
Letters-patent, or letters overt [fr. liter' patentes, Lat.], writings of the sovereign, sealed with the Great Seal of England, whereby a person or public company is enabled to do acts or enjoy privileges which he or it could not do or enjoy without such authority. They are so called because they are open with the seal affixed and ready to be shown for confirmation of the authority thereby given. Peers are sometimes created by letters-patent, and letters-patent of precedence were granted to barristers. By letters-patent aliens are made denizens, and especially new inventions are protected; hence the incorporeal chattel of patent-right.A 'patent-right' is a privilege granted by the Crown to the first inventor of any new contrivance in manufactures, that he alone shall be entitled, during a limited period, to make Articles according to his own invention--Statute of Monopolies, 21 Jac. 1, c. 3.To be the subject of a patent-right an article must be material and capable of manufacture, an i...
intervention
intervention : the act or an instance of intervening ;specif : the act or procedure by which a third party becomes a party to a pending proceeding between other parties in order to protect his or her own interest in the subject matter of the suit compare impleader, interpleader, joinder NOTE: Intervention developed as a procedure in equity courts. There is some overlap between joinder and intervention because of the merger of law and equity in federal practice. intervention of right : intervention allowed in federal civil procedure when a statute grants an absolute right to intervene or when the applicant claims an interest in the subject of the proceeding that the applicant may be impeded from protecting by the disposition of the proceeding NOTE: Intervention of right will not be granted if the court considers that the applicant's interest is already adequately represented. permissive intervention : intervention allowed in federal civil procedure when a statute grants a condi...
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...
Alien
Alien [fr. alienigena, alibi natus, Lat.], a person not born within His Majesty's dominions and allegiance (q.v.). See definitions in the British Nationality and Status of Aliens Acts, 1914 and 1933, infra. At common law aliens were subject to very many disqualifications, the nature of which is shown by the (English) Act of 1844, 7 & 8 Vict. c. 66, which greatly relaxed the law in their favour. It provided, inter alia, that every person born of a British mother should be capable of holding real or personal estate; that alien friends might hold every species of personal property except chattels real; that subjects of a friendly power might hold lands, etc., for the purposes of residence or business for a term not exceeding twenty-one years; and it also provided for aliens becoming naturalized.Alien, (UK) is a person who is neither a Common-wealth citizen nor a British protected person nor a citizen of the Republic of Ireland. Aliens therefore include both persons having the nationality ...
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