Association Articles Of - Law Dictionary Search Results
Articles
Articles, divisions and paragraphs of a document or agreement. It is a common practice for persons to enter into articles of agreement, preparatory to the execution of a formal deed, whereby it is stipulated that one of the parties shall convey to the other certain lands, or release his right to them, or execute some other disposition of them.Articles are therefore considered as a memorandum or minute of an agreement to make some future disposition or modification of property. Such an instrument will create a trust or equitable estate, and a specific performance of it will be decreed inequity.Articles are usually entered into for the purchase and sale of lands, for the taking and granting of leases, for making settlements on marriage, and for forming partnerships. And see ASSOCIATION.And see IMPEACHMENT....
Personal use
Personal use, means a close scrutiny of the context in which the expression occurs shows that only those effects can legitimately be said to be personal which pertain to the assessee's person; in other words, an intimate connection between the effects and the person of the assessee must be shown to exist to render the 'personal effects'. The enumera-tion of articles like wearing apparel, jewellery and furniture, mentioned by way of illustrations in the above definition of 'personal effects', also shows that the legislature intended only those articles to be included in the definition which were intimately and commonly used the assessee, Random House Dictionary of the English Language Unabridged Edn., p. 1075.Means article associated with person as property having more or less intimate relation to person of possessor, Black's Law Dictionary, 4th Edn., p. 1301....
Chose
Chose [Fr., a thing]; it is used in divers senses, of which the four following are the most important:--(1) Chose local, a thing annexed to a place, as a mill, etc.(2) Chose transitory, that which is movable, and may be taken away, or carried from place to place.(3) Chose in action, otherwise called chose in suspense, a thing of which a man has not the possession or actual enjoyment, but has a right to demand by action or other proceedings, as a debt, bond, etc. A well-known rule of the Common Law was that no possibility, right, title, or thing in action, could be assigned to a third party, for it was thought that a different rule would be the occasion of multiplying litigation: as it would in effect be transferring a lawsuit to a mere stranger, though the assignee might, at law, and was assisted in equity to sue the debtor in the name of the assignor. At law, therefore, with the exception of negotiable instruments, an interesse termini, and some few other securities, this until 1873 c...
Managing Director
Managing Director, in relation to a banking company, means a director who, by virtue of an agreement with the banking company or of a resolution passed by the banking company in general meeting or by its Board of directors or, by virtue of its memorandum or articles of association, is entrusted with the management of the whole, or substantially the whole of the affairs of the company, and includes a director occupying the position of a managing director, by whatever name called. [Banking Regulation Act, 1949 (10 of 1949), s. 5 (h)]...
Poll
Poll, to give a vote at an election; also to receive a vote; also a taking of votes of all persons entitled to vote present, by proxy, or otherwise, as opposed to counting the votes of voters present at a meeting.As to taking a poll at parliamentary and municipal elections by secret voting, see the Ballot Act, 1872.Wherever a person has to be chosen, or a thing may be ordered to be done by the majority of persons entitled to vote, there is a Common Law right to demand a poll, so that all entitled to vote may have a second opportunity of voting, Reg. v. Wimbledon Local Board, (1881) 8 QBD 459, better reported, 46 LT 47. Voting papers are allowed if the Articles of Association or other regulations so provide, McMillan v. Le Roi Mining Co. Ltd., (1906) 1 Ch 331, and s. 116, Companies Act, 1929. As to the power of the chairman to direct a poll to be taken forthwith, i.e., at the meeting, see Re Chillington Iron Co., (1885) 29 Ch D 159; Re British Flax Co., (1889) 60 LT 215. The taking of a...
Production
Production, has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufacture, Commissioner of Income Tax v. NV Budharaga & Company, 1993 (70) Taxman 312: AIR 1993 SC 2529: 1993 Tax LR 1117: 1993 (2004) ITR 412: AIR 1993 SCW 3317.Means the separation of opium, poppy straw, coca leaves or cannabis from the plants from which they are obtained. [Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985), s. 2 (xxii)]In relation to a feature film, includes any of the activities in respect of the making thereof. [Cine-Workers and Cinema Theatre Workers (Regulation of Employment) Act, 1981 (5 of 1981), s. 2(i)]The word 'production' has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufacture. The word 'production' or 'produce' when used in juxtaposition with the word 'manufacture' takes in bri...
Sati
Sati, means the act of burning or burying alive of--(i) any widow along with the body of her deceased husband or any other relative or with any article, object or thing associated with the husband or such relative; or(ii) any woman along with the body of any of her relatives, irrespective of whether such burning or burying is claimed to be voluntary on the part of the widow or the woman or otherwise. [Commission of Sati (Prevention) Act, 1987, s. 2(1)(c)]...
Shares in public undertakings
Shares in public undertakings. Where the property is vested by charter or Act of Parliament in a body corporate, the shares of the individual corporators in the concern itself are personal, not real, estate; for such shares are merely the rights which each individual possesses as a partner to a share in the surplus profit derived from the employment of the capital, which is a mixed fund, consisting in part of personal chattels, as well as lands and fixtures. Shares in all companies which are within the Companies Acts (see the Companies Act, 1929, s. 62), OR THE Companies Clauses Act, 1845, are personal property; and in many cases of companies incorporated by special Act the shares have been expressly declared to be personal property. Before 1926 the question whether shares in other under-takings were real or personal property turned upon the nature of the shares-that is, whether the holder could call for a specific part of the land itself or only a share of the profits. See now UNDIVID...
Underwriter
Underwriter, an insurer of ships, so called from his writing his name under the policy of insurance. See INSURANCE.Also subscribers (generally before a public issue by the company) offering to take all or a stated amount of the shares offered to and not taken up by the public. The sole consideration allowed is a commission at a rate which must be disclosed in the prospectus and not exceeding the rate authorized by the Articles of Association. This commission must not be confused with brokerage which companies are allowed to pay for placing their shares. [see (English) Companies Act, 1929, ss. 35 and 355, 4th Sch. (10)]A bona fide invitation to enter into an underwriting agreement does not require a prospectus within the meaning of s. 35 (ibid.). see PROSPECTUS....
Usual common form
Usual common form, means the articles of association sometimes provide that the transfer of shares should be in writing, and in the 'usual common form'. This expression means that everything which is material to the transfer must be in the usual common form. It does not mean that the transfer is bad if the ifs are not properly dotted, and the it's are not properly crossed, Letheby and Christopher, Ltd., (1904) 1 Ch 815....
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