Administration Expense - Law Dictionary Search Results
Home Dictionary Name: administration expense Page 1 of about 25 results ( seconds)Administration expense
Administration expense, means necessary expenditure made by an administrator in managing and distributing an estate. These expenses are deductible even if not actually incurred by the time return is filed, Black Law Dictionary, 7th Edn., p. 45....
Debt
Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed to be due to him; and it was generally founded on some contract alleged to have taken place between the parties, or on some matter of fact from which the law would imply a contract between them. This was debt in the debet, which was the principal and only common form. There is another species mentioned in the books, called debt in the detinet, which lay for the specific recovery of goods, under a contract to deliver them. An action of debt as a technical term is now obsolete. See PLEADINGS. The order of the payment of debts and expenses out of legal assets in an ordinary administration action in the Chancery Division of the High Court is as follows:-1. Funeral expenses, which in the case of an insolvent estate must be strictly reasonable and necessary only, the executor or administrator being personally liabl...
operating expenses
operating expenses The expenses of a business not directly associated with the making of a product or providing of a service, such as administrative, technical or selling expenses ...
Cess
Cess [fr. asseoir, Fr., to fix), an assessment or tax. In Ireland it was anciently applied to a exaction of victuals, at a certain rate, for soldiers in garrison, and in modern times is equivalent to the English 'Rate.'Means the cess levied under s. 3. [Research and Development Cess Act, 1986 (32 of 1986), s. 2 (b)]The word 'cess' is used in Ireland and is still in use in India although the word rate has replaced it in England. It means a tax and is generally used when the levy is for some special administrative expense what the name (health cess, education cess, road cess etc.) indicates. When levied as an increment to an existing tax, the name matters not for the validity of the cess must be judged of in the same way as the validity of the tax to which it is an increment, Guruswamy and Co. v. State of Mysore, (1967) 1 SCR 548: AIR 1967 SC 1512. Also see, India Cement Ltd. v. State of T.N., (1990) 1 SCC 12: AIR 1990 SC 85.It means a tax and is generally used when the levy is for some ...
Funeral expenses
Funeral expenses. An executor or administrator should bury the deceased testator or intestate suitably to the estate left, and the expense of the burial will be allowed before all other debts and charges; but if the personal representative be extravagant, he commits a devastavit, for which he will be answerable to the creditors or legatees....
Testamentary expenses
Testamentary expenses, including the costs of an administration action [Penny v. Penny, (1879) 11 Ch D 440] As to whether the expression includes estate duty, see Porte v. Williams, (1911) 1 Ch 188, and cases there cited. Generally, it includes estate duty on personalty [Re Trenchard, (1905) 1 Ch 82], and primarily, in respect of land, subject to payment as provided by ss. 16 to 18 of the Law of Property Act, 1925. Under the Intestates Estates Act, 1890, s. 6, now repealed, it included expenses of letters of administration and of administration generally, Re Twigg, (1892) 1 Ch 579....
Expenses
Expenses, properly incurred by the administrator means incurred before the administration started and therefore, could not have been incurred by the administrator or while he was administrator, A. Company (in re:), (2001) 1 WLR 502 (CD)....
means test
means test Section 707(b)(2) of the Bankruptcy Code applies a "means test" to determine whether an individual debtor's chapter 7 filing is presumed to be an abuse of the Bankruptcy Code requiring dismissal or conversion of the case (generally to chapter 13). Abuse is presumed if the debtor's aggregate current monthly income (see definition above) over 5 years, net of certain statutorily allowed expenses, is more than (i) $10,000, or (ii) 25% of the debtor's nonpriority unsecured debt, as long as that amount is at least $6,000. The debtor may rebut a presumption of abuse only by a showing of special circumstances that justify additional expenses or adjustments of current monthly income. Source: Administrative Office of the U.S. Courts ...
Debts and liabilities
Debts and liabilities, incurred under contracts enter into by him in s. 19(5) as a matter of construction, legal expenses property incurred by an administrator in connection, with his role as administrator fell with in s. 19(5), A Company (Ch. D.) (in re:), (2000) 1 WLR 502....
Costs
Costs, expenses incurred in litigation or professional transactions, consisting of money paid for stamps, etc., to the officers of the Court, or to the counsel and solicitors, for their fees, etc.Costs in actions are either between solicitor and client, being what are payable in every case to the solicitor by his client, whether he ultimately succeed or not; or between party and party, being those only which are allowed in some particular cases to the party succeeding against his adversary, and these are either interlocutory, given on various motions and proceedings in the course of the suit or action, or final, allowed when the matter is determined.Neither party was entitled to costs at Common Law, but the Statute of Gloucester (6 Edw. 1, c. 4), gave cots to a successful plaintiff, and 2 & 3 Hen. 8, c. 6, and 4 Jac. 1, c. 3, to a victorious defendant; see Garnett v. Bradley, (1878) 3 App Cas 944.In proceedings between the Crown and a subject the general rule is that the Crown neither ...
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