Benami - Law Dictionary Search Results
Home Dictionary Name: benamiBenami
Benami, the word 'benami' issued to denote two classes of transactions which differ from each other in their legal character and incidents. In one sense, it signifies a transaction which is real, as for example, when A sells properties to B but the sale deed mentions X as the purchaser. Here the sale itself is genuine, but the real purchaser is B, X being his benamidar. This is the class of transactions which is usually termed as benami. But the word 'benami' is also occasionally used, perhaps not quite accurately, to refer to a sham transaction, as for example, when A purports to sell his property to B without intending that his title should cease or pass to B. The fundamental difference between these two classes of transactions is that whereas in the former there is an operative transfer resulting in the vesting of title in the transferee, in the latter there is none such, the transferor continuing to retain the title notwithstanding the execution of the transfer deed. It is only in ...
Benami transaction
Benami transaction, means any transaction in which property is transferred to one person for a consideration paid or provided by another person. [Benami Transactions (Prohibition) Act, 1988 (45 of 1988), S. 2 (a)]...
Lie
Lie, in Collins English Dictionary, 1979 Edition, the word 'lie' has been defined in connection with suits and proceedings . At page 848 of the Dictionary while dealing with topic No. 9 under the definition of term 'lie' it is stated as under:for an action, claim appeal etc. to subsist; be maintainable or admissible, R. Rajagopal Reddy v. Padmini Chandrasekhran, AIR 1996 SC 238 (243): (1995) 2 SCC 630. [Benami Transactions (Prohibition) Act, 1988, s. 4(1)]It means 'to have foundation in the law; to be legally supportable, sustainable, or proper', (Black's Law Dictionary)....
Property
Property, an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252.Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected privy purse, See M.M. Pathak v. Union of India, AIR 1978 SC 802.Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201.Every movable property is 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 of goods it may be used as a synonym for ownership and lesser rights in goods, Dictionary of Commercial Law by A.H. Hudson, (1983, Edn.).In Entry 42, List III (Constitution of India) includes the power to legislate for acquisition of an un...
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