Adventure - Law Dictionary Search Results
Home Dictionary Name: adventureAdventure in the nature of trade
Adventure in the nature of trade, The expression in sub-s. (4) of s. 2 of the Indian Income Tax Act, 1922, postulates the existence of certain elements in the adventure which in law would invest it with the character of a trade or business; and that a tribunal while considering a question as to whether a transaction is or is not an adventure in the nature of trade, before arriving at its final conclusion on facts proved, the tribunal has undoubtedly to address itself to the legal requirements associated with the concept of trade or business, G. Venkataswami Naidu and Co. v. Commissioner of Income Tax, AIR 1959 SC 359 (364): (1959) Supp 1 SCR 646....
Adventure, bill of
Adventure, bill of, a writing signed by a merchant, stating that the property in goods shipped in his name belongs to another, to the adventure or chance of which the person so named is to stand, with a covenant from the merchant to account to him for the produce....
Bill of adventure
Bill of adventure. See ADVENTURE, BILL OF....
Marine adventure
Marine adventure, includes any adventure where-(i) any insurable property is exposed to maritime perils; (ii) the earnings or acquisition of any freight, passage money, commission, profit or other pecuniary benefit, or the security for any advances, loans, or disbursements is endangered by the exposure of insurable property to maritime perils; (iii) any liability to a third party may be incurred by the owner of, or other person interested in or responsible for, insurable property by reason of maritime perils. [Marine Insurance Act, 1963 (11 of 1963), s. 2(d)]...
joint adventure
joint adventure : joint venture ...
Adventure
Adventure [fr. advenire, Lat., to come to], the sending to sea of a ship or goods at the risk of the sender....
Aventur', or Adventure
Aventur', or Adventure, a mischance causing the death of a man, as where a person is suddenly drowned or killed by any accident, without felony, Jac. Law Dict....
Bills of gross adventure
Bills of gross adventure, an instrument in writing which contains a contract of bottomry, respondentia, and every species of maritime loan, Fr. Law....
Business
Business, 'business' is a word of wide import. It has no definite meaning. Its perceptions differ from private to public sector or from institutional financing to commercial banking, Mahesh Chandra v. Regional Manager Uttar Pradesh Financial Corpn., AIR 1993 SC 935 (939): (1993) 2 SCC 279. [State Financial Corporation Act, (63 of 1951), s. 24]--Business would undoubtedly be property, unless there is something to the contrary in the enactment, J.K. Trust Bombay v. CIT, (1958) SCR 65: 1957 SCJ 845: AIR 1957 SC 846.Business includes the activities carried on by any public body, Halsbury's Laws of England, Vol. 20, 4th Edn., Para 546, p. 357. The term 'business' includes every trade, occupation and profession. The word 'business' has no technical meaning, but is to be read with reference to the subject and intent of the Act in which it occurs. The term 'business' means an affair requiring attention and labour as the chief concern; mercantile pursuits, that one does for livelihood, occupati...
Implicata
Implicata [Ital.]. In order to avoid the risk of making fruitless voyages, merchants have been in the habit of receiving small adventures on freight at so much per cent., to which they are entitled at all events, even if the adventure be lost, Merc. Law. [Ital.]. In order to avoid the risk of making fruitless voyages, merchants have been in the habit of receiving small adventures on freight at so much per cent., to which they are entitled at all events, even if the adventure be lost, Merc. Law....
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