Asset - Law Dictionary Search Results
benefit
an heir to be held liable for the debts of the estate only to the extent of the assets in the estate NOTE: The heir obtains the benefit of inventory by having a qualified public officer (as
Cock oven plant
belonging to the coke oven plant where the washing of coal is carried on, (vi) all other fixed assets, movable or immovable, and current assets belonging to a coke oven plant, whether within its premises or outside.
Secured creditor
interest is created for due repayment by any borrower of any financial assistance. [Securitisation and Recon-struction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zd)] Secured creditor, means any bank
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Scheme
to be issued by a securitisation company or reconstruction company under that scheme. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(y)] 1. A systematic plan; a connected
Revenue deficit
revenue expenditure and revenue receipts which indicates increase in liability of the State Government without corresponding increase in assets of the Government. [Gujarat Fiscal Responsibility Act, 2005, s. 2(g)] Means the amount of excess of revenue expenditure
Race of diligence
Race of diligence, A first come, first served disposition of assets, Black's Law Dictionary, 7th Edn. Means a first-come, first-served disposition of assets, Black's Law Dictionary, 7th Edn., p.
Partnership
s. 56 (1) (b), replacing (English) Jud. Act, 1873, s. 34)]. The County Court has jurisdiction if the assets do not exceed 500l. [(English) County Courts Act, 1934, s. 52 (f)] Limited Partnership.--The (English) Limited Partner-ships Act,
Occupancy
comes to him by reason of special occupancy of an estate of inheritance pur autre vie (q.v.) as assets by descent (as in the case of freehold land, in fee-simple); and should there be no special occupant
Liquidator
which such sanction is not required. The duties of a liquidator are to collect, administer, and distribute the assets, having regard to the direction of creditors and contributories, and subject to the requirements of the Act. He
Distribution, Statute of
(English) Intestates Estates Act, 1890 (see that title), to at least 500 out of the real and personal assets of the intestate, or if such assets did not amount to 500, then to the whole of his
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