Auctioneers - Law Dictionary Search Results
Home Dictionary Name: auctioneers Page: 4Post-obit Bond
Post-obit Bond. A bond, conditioned to be void on the payment by the obligor of a sum of money upon the death of another person. in most cases the person upon whose death it is so payable is one from whom the obligor expects to derive some property. Post-obit bonds, and other securities of a like nature, are set aside, when made by heirs and expectants, as frauds upon the parents and other ancestors, unless the person dealing with such heir can prove satisfactorily that the stipulated payment is not more than a just indemnity for the hazard. Even the sale of a post-obit bond at public auction will not necessarily give it validity, or free it from the imputation of being obtained under the pressure of necessity. See BOND; EXPECTANT HEIR....
Sale of Goods Act, 1893
Sale of Goods Act, 1893 (English) (56 & 57 Vict. c. 71), codifying the law of the sale of goods, in the same fashion as the law of bills of exchange, promissory notes, and cheques was codified (see CODE) by the Bills of Exchange Act, 1882, and the law of partnership by the (English) Partnership Act, 1890.The parts of the Act are:-I. Formation of the Contact, in which it is provided, amongst other things, that an infant or person by mental incapacity or drunkenness incompetentto contract must pay a reasonable price for 'necessaries' sold and delivered to him; that (re-enacting a part of the Statute of Frauds) a contract for the sale of goods of the value of 10l. or more is not enforceable unless the buyer accept and receive part, or give something in earnest to bind the contract, or 'unless some note or memorandum in writing of the contract be made and signed by the party to be charged or his agent in that behalf'; that a contract for the sale of specific goods which have perished witho...
Sectares
Sectares, bidders at an auction, Civ. Law....
Serjeants' inn
Serjeants' inn. A society consisting of the entire body of serjeants-at-law, which included all the Common Law judges appointed before the commencement of the Judicature Acts. Their property in Chancery lane was sold by auction in 1877, and the proceeds, 57,000l., divided amongst the then members of the Society. See title SERJEANT....
Shop
Shop, a place where thins are kept for sale, usually in small quantities, to the actual consumers. By (English) Shops Act, 1912, s. 19, 'shop' includes any premises where any 'retail trade or business' is carried on; 'retail trade or business' includes the business of a barber or hairdresser, but not the sale of programmes, etc., at places of amusement.A business establishment or place of employment; a factory, office, or other place of business, Black's Law Dictionary, 7th Edn., p. 1384.The (English) Shops Act, 1934, deals with the employment of persons under eighteen years, repealing s. 2 of the (English) Shops Act, 1912; but the other provisions are unaffected. The 1934 Act, s. 1, provides that no young person (under eighteen) shall be employed for more than the normal maximum working hours, that is, forty-eight hours in any week; it makes restrictions on right employment, has special provisions as to the catering trade, the sale of accessories for Aircraft, motor vehicles and cycle...
Sufficient cause
Sufficient cause, for non-appearance refers to the date on which the absence was made a ground for proceeding ex parte and cannot be stretched to rely upon other circumstances anterior in time, Tea Auction Ltd. v. Grace Hill Tea Industry, AIR 2007 SC 67.Sufficient cause is an expression which is found in various statues. It has been construed liberally in keeping with its ordinary dictionary meaning as adequate or enough. That is, any justifiable reason resulting in vacation has to be understood as sufficient cause. For instance economic difficulty or financial stringency or family reasons may compel a landlord to let out a building in his occupation. So long as it is found to be genuine and bona fide it would amount to vacating a building for sufficient cause, Surinder Singh Sibia v. Vijay Kumar Sood, AIR 1992 SC 1540 (1541): (1992) 1 SCC 70. [H.P. Urban Rent Control Act, 1987, s. 14(3), Proviso 2]The expression 'sufficient cause' cannot be cons-trued too liberally, merely because the...
Transfer
Transfer, a permanent alienation is a transfer and a permanent alienation includes the several kinds of transfers, namely, sale, exchange or gift, Syed Jalal v. Targopal Ram Reddy, AIR 1970 AP 19.Transfer, cannot have the widest comprehension, and does not indicate or include compulsory transfer or forced transfer, like court auction sale, Kharva Gigabhai Mavji v. Soni Jagjivvan Kanji, 1979 (20) Guj LR 256.Transfer, connotes, normally, between two living persons during life; will take effect after demise of the testator and transfer in that perspective becomes incongruous, State of West Bengal v. Kailash Chandra Kapur, (1997) 2 SCC 387.Transfer, Decrees which would have the effect of extinguishing the tittle of the holder and nesting the same in some one else though not falling within the ordinary meaning of the phrase 'transfer of property' would be 'transfers' within the meaning of the term as used in ss. 4 and 5, Jagdish v. State of Madhya Pradesh, AIR 1993 MP 132. [See M.P. Ceiling...
Upset price
Upset price, in sales by auction, an amount for which property to be sold is put up, so that the first bidder at that price is declared the buyer, if there is no higher bid....
Vendue master
Vendue master, an auctioneer....
Dum bidding
Dum bidding, in sales at auctions, when the amount which the owner of the thing sold was willing to take for the article was written, and placed by the owner under a candlestick or other things, and it was agreed that no bidding should avail unless equal to that amount....
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