Annual Value - Law Dictionary Search Results
Home Dictionary Name: annual valueAnnual value
Annual value, annual rent at which the building may be expected to let, D.G. Gouse & Co. (Agents) Pvt. Ltd. v. State of Kerala, (1980) 2 SCC 410: AIR 1980 SC 271 (280).Means, in relation to any land, the rent at which the land might reasonably be expected to let from year to year if the tenant undertook to pay all usual tenant's rates and taxes and to bear the costs of the repairs and insurance and the other expenses, if any, necessary to maintain the land in a State to command that rent, Halsbury's Laws of England, Vol. 19(2), 4th Edn., Para 1193, Note 3, p. 939....
Capital value
Capital value, 'capital value' of a building to mean the value arrived at by multiplying the annual value of a building by sixteen, D.G. Gouse and Co. (Agents) Pvt. Ltd. v. State of Kerala, (1980) 2 SCC 410: AIR 1980 SC 271 (282): (1980) 1 SCR 804. (Kerala Building Tax Act (7 of 1975), Pre.)...
Tithe Rent-Charge
Tithe Rent-Charge. A charge on land, substituted by commutation for that charge on the produce of the land for the benefit of the Church, which was called tithe from being the tenth part of the increase yearly arising and renewing from the profits of lands, the stock upon lands, and the personal industry of the inhabitants; the first species being usually called pr'dial, the second mixed, the third personal.This commutation was effected by a procedure set on foot by the (English) Tithe Act, 1836 (6 & 7 Wm. 4, c. 71), amended by subsequent Acts. See Chitty's Stat., tit. 'Tithe Rent-Charge.' The amount to be paid was annually adjusted, according to the price of corn.The commutation was effected in one of two ways-either by a voluntary parochial agreement, con-firmed by the commissioners, or by the compulsory award of the commissioners. The value, either voluntarily agreed upon or awarded by the commissioners, was considered as the amount of the total rent-charge to be paid in respect of ...
Rate
Rate, A contribution levied by some public body for a public purpose, as a poor rate, a highway rate, a sewers rate, upon, as a general rule, the occupiers of property within a parish or other area.Proportional or relative value; the proportion of which quantity or value is adjusted, Black's Law Dictionary, 7th Edn., p. 1268.The term 'rate' is also used to mean a charge by a water, gas, railway, or other public undertaking for services rendered e.g., (English) Railways Act, 1921, s. 20; Metropolitan Water Board Charges Act, 1921 (11 & 12 Geo. 5, c. xciv.).The poor rate was levied under the (English) Poor Relief Act, 1601 (43 Eliz. s. 2), on the occupiers in each parish of 'lands, houses, tithes, coal mines, or saleable underwoods,' and the (English) Rating Act, 1874, extended the liability to rates to: (1) land used for a plantation or a wood, or for the growth of saleable underwood, and not subject to any right of common; (2) rights of fowling, shooting, taking, or killing game, or ra...
Electoral franchise
Electoral franchise. (1) The qualifications entitling persons to vote at Parliamentary elections. A brief sketch of the changes up to 1884 in (a) Counties, and (b) Boroughs is as follows:(a) Originally the freeholders elected the members for the county: later, residence was made an additional qualification. In the fifteenth century the qualification was limited to resident freeholders of lands or tenements to the value of 40s. by the year (8 Hen. 6, c. 7). Towards the end of the eighteenth century the residence qualification was abolished. The (English) Reform Act, 1832, extended the franchise to 10l. copyholders and to leaseholders for terms of years, and tenants at will paying a minimum of 50l. yearly rent (2 & 3 Wm. 4, c. 45, ss. 19 and 20). The (English) Representation of the People Act, 1867, extended the franchise to every duly registered man of full age who was-(i) the owner of lands or tenements, of whatever tenure, for his own life, for the life of another or for any lives wha...
Parochial Assessment Act, 1836
Parochial Assessment Act, 1836 (English) (6 & 7 Wm. 4, c. 96), whereby poor-rates were made on the net annual value of the rateable property, is now repealed and the net annual rateable value is defined for the purposes of the (English) Rating and Valuation Act, 1925, in s. 22 of the Act....
Rackrent
Rackrent, rent raised to the uttermost; the full annual benefit of the property; in the (English) Public Health Act, 1936, s. 334, in relation to any property, means a rent which is not less than two-thirds of the rent at which a house or other property might reasonably be expected to let from year to year, free from all usual tenant's rates and taxes and tithe rentcharge (if any), and deducting therefrom the probable average annual cost of the repairs, insurance and other expenses (if any) necessary to maintain the same in a state to command such rent.Rent equal to or nearly equal to full annual value of property: excessively or unreasonable high rent, Black's Law Dictionary, 7th Edn., p. 1266...
Justices
Justices, officers deputed by the Crown to ad-minister justice and do right by way of judgment. The judges of the Supreme Court are called justices, but the word is usually applied to petty magistrates who sit to administer summary justice in minor matters, and who are commonly called justices of the peace. They were first appointed in 1327 by 1 Edw. 3, st. 2, c. 16, and are now appointed by the king's special commission under the Great Seal, the form of which was settled by all the judges in 1590, and continues, with little alteration, to this day. Consult Putnam's Early Treatises on the Practice of the Justices of the Peace in the Fifteenth and Sixteenth Centuries. This appoints them all, jointly and severally, to keep the peace in the county named; and any two or more of them to inquire of and determine felonies and other misdemeanours in such county committed, in which number some particular justices, or one of them, are directed to be always included, and no business done without ...
Rateable value of a building
Rateable value of a building, the criteria for deter-mining rateable value of a building is the annual rent at which such building might reasonably expect to get from a hypothetical tenant, if the building were let from year, less certain deductions. What is reasonable is a question of fact and it depends on the facts and circumstances of a given situation, Dr. Balbir Singh v. M.C.D., AIR 1985 SC 339: (1985) 1 SCC 167: (1985) 2 SCR 439....
Annual turnover
Annual turnover, represents the value of goods or services sold or supplied during a period of one year. The amount of money turned over or drawn in a business during a period of one year is another shed of meaning, Secretary, Ministry of Chemicals and Fertilisers, Government of India v. Cipla Ltd., (2003) 7 SCC 1. [Drugs Policy 1994, s. 2]...
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