Banking Commercial - Law Dictionary Search Results

SC 3886. Office, is defined as 'a room, set of rooms, or building where the business of a commercial or industrial organization or of a professional person is conducted; the main office of an insurance company; a … of activities from office purpose to godown purpose is a change of use of premises, Goa Urban Coop. Bank v. Noor Mohd., (2004) 6 SCC 166. It is 'a room or building used as a place of

trust

that is created for the purpose of making profit and that is usually characterized by some kind of commercial activity, transferable certificates of interest, existence continuing after the death of beneficiaries, limited liability, legal title in the … to the trust as a source of support for a divorced spouse with a remainder to someone else bank account trust : totten trust in this entry business trust : a trust that is created for the

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Property

only assets, but the organisation, liabilities and obligations of a going concern as a unit. Undertaking of a banking company is property, R.C. Cooper v. Union of India, AIR 1970 SC 564: 1970 (2) SCC 248. (See … included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70. In commercial law this may carry its ordinary meaning of the subject-matter of ownership. But elsewhere, as in the sale

cancel

through or otherwise marring the words or signature of NOTE: As stated in section 3-604 of the Uniform Commercial Code, a party that is entitled to enforce a negotiable instrument may cancel the instrument, whether or not … party to pay. c : to mark (a check) to indicate that payment has been made by the bank NOTE: A check is no longer negotiable once it has been cancelled. d : to withdraw an agreement

letter of credit

of credit is considered to extend a line of credit or substitute the issuer's credit for the customer's. commercial letter of credit : a letter of credit which is used to satisfy payment for merchandise and which … document issued to a beneficiary at the request of the issuer's customer in which the issuer (as a bank) promises to honor a demand for payment by the beneficiary in order to satisfy or secure the customer's

Includes

vehicles, also proceeds on the basis that a private carrier who is carrying on activities which are not commercial would be included within the expression 'motor transport undertaking', Municipal Council v. State of Madhya Pradesh, AIR 1970 … includes', depending on the content, N.D.P. Namboodripad v. Union of India, AIR 2007 SC 1782; see also Reserve Bank of India v. Peerless General Finance and Investment Co. Ltd., 1987 (1) SCC 424. Indicates a commonality or

Person

of individuals, whether incorporated or not. [General Clauses Act, 1897, s. 3(42)] Person, includes court, Chandrasekharan v. Deputy Commercial Tax Officer Arcot, (1973) Tax LR 1971. Person, includes family, Vijaya Anandrao Khirsagar v. State of Maharashtra, AIR … Regulatory commission, AIR 2006 AP 12. 'Person' includes company or association or body of persons, see Standard Chatered Bank v. Directorate of Enforcement, AIR 2005 SC 2622. 'Person', Person includes any company, Fidelity Industries Ltd. v. State,

Client account

defined in clause (h) of s. 2 of the Securities Contracts (Regulation) Act, 1956, or by issue of commercial paper depository receipts or any other instrument; (c) whose financial standing has been assessed or is proposed to … by credit institution or any other person or institution as may, by notification, be directed by the Reserve Bank. [Credit Information Companies (Regulation) Act, 2005, s. 2(c)].

Plant

but one of imprecise application, and, so far as I can see, has been applied to industrial and commercial equipment in a highly analogical and metaphorical sense, borrowed, unless I am mistaken, from the world of botany, … 647, where a horse was held to be 'plant' within that Act; and see National Provincial and Union Bank of England v. Charnley, (1924) 1 KB 431, and Daphne v. Shaw (1926) 53 TLR 45. 'Plant' does

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