Asset - Law Dictionary Search Results
Home Dictionary Name: asset Page: 3Fixed assets
Fixed assets, 'Fixed assets' in general comprise those assets which are held for the purpose of conducting a business, in contradistinction to those assets which the proprietor holds for the purpose of converting into cash, and they include real estate, building, machinery, etc. Union of India v. United Collieries Ltd., AIR 1985 SC 192 (195): (1985) 1 SCC 305: (1985) 2 SCR 209. [Coal mines (Nationaliza-tion) Act, (26 of 1973), s. 2(h)(xii)]...
Quick-asset ratio
Quick-asset ratio, means the ratio between an entity's current or liquid assets (such as cash and accounts receivable) and its current liabilities. Also termed quick ratio; acid-test ratio, Black's Law Dictionary, 7th Edn., p. 1260....
Secured asset
Secured asset, means the property on which security interest is created. [Securitisation and Reconstruc-tion of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zc)]...
Actual cost of an asset
Actual cost of an asset, the 'actual cost' referred to is not the actual cost as originally determined at the time of acquisition. Actual cost may be subject to certain modifications and alterations Saharanpur Electric Supply Co. Ltd. v. CIT (1992) 2 SCC 736 (750): (1992) 1 SCR 117....
Financial asset
Financial asset, means debt or receivables and includes--(i) a claim to any debt or receivables or part thereof, whether secured or unsecured; or(ii) any debt or receivables secured by, mortgage of, or charge on, immovable property; or(iii) a mortgage, charge, hypothecation or pledge of movable property; or(iv) any right or interest in the security, whether full or part underlying such debt or receivables; or(v) any beneficial interest in property, whether movable or immovable, or in such debt, receivables, whether such interest is existing, future, accruing, conditional or contingent; or(vi) any financial assistance. [Securitisation and Reconstruction of Financial Assets and Enforce-ment of Security Interest Act, 2002 (54 of 2002), s. 2(1)(l)]...
Asset reconstruction
Asset reconstruction, means acquisition by any securitistion company or reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realisation of such financial assistance. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2 (1) (b)]...
no-asset case
no-asset case A chapter 7 case where there are no assets available to satisfy any portion of the creditors' unsecured claims. Source: Administrative Office of the U.S. Courts ...
net asset value
net asset value : the portion represented by one share of stock of the excess of the market value of a corporation's assets over its liabilities ...
asset-backed security
asset-backed security see security ...
asset depreciation range
asset depreciation range : a range of useful lives assigned to types of property under the Internal Revenue Code for purposes of depreciation ...
- << Prev.
- Next >>