Book Value - Law Dictionary Search Results
Home Dictionary Name: book valueBook value
Book value, means the value of something as shown on book keeping records as distinguished from market value, the value of an asset equal to cost less deprecation, the value of a corporation's capital stock expressed as its original cost less deprecation and liabilities, Webster's Dictionary of Law, Indian Edn. (2005), p. 57....
book value
book value : the value of something as shown on bookkeeping records as distinguished from market value: as a : the value of an asset equal to cost less depreciation b : the value of a corporation's capital stock expressed as its original cost less depreciation and liabilities ...
true value
true value 1 : fair market value called also true cash value 2 : the depreciated book value of personal property for purposes of taxation of such property used in business ...
stated value
stated value : the value assigned in a corporation's books to stock and esp. to no-par value stock NOTE: Stated value is sometimes based on the actual amount received when stock is issued, but it can also be an arbitrarily low value. It has no relation to the market value of the stock. ...
King's Books
King's Books. They contain the Valor Beneficiorum-i.e., value of every ecclesiastical benefice and preferment, according to which valuation the first-fruits and tenths were collected and paid, and the clergy rated. This value was certified by certain commissioners, pursuant to 26 Hen. 8, c. 3, confirmed by 1 Eliz. c. 4....
Net-worth
Net-worth, means the sum total of the paid-up capital and free reserves. [Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), s. 3 (1) (ga)]The concept of 'Net Worth' always denotes the excess of the book value of all assets over liabilities and market value of the assets is never taken into consideration; in fact the market value of assets which gives the 'current worth' becomes a relevant factor when in liquidation the question has to be considered whether the company possesses assets which would be sufficient to meet all its creditors or not, Commissioner of Income Tax v. Mahindra and Mahindra Limited, AIR 1984 SC 1182 (1193): (1983) 4 SCC 392: (1983) 3 SCR 773....
True-value rule
True-value rule, means the rule requiring that one who subscribes for and receives corporate stock must pay par value for it, in either money or its equivalent, so that a corporation's real assets square with its books, Black's Law Dictionary, 7th Edn., p. 1513....
loss
loss 1 : physical, emotional, or esp. economic harm or damage sustained: as a : decrease in value, capital, or amount compare gain b : an amount by which the cost of something (as goods or services) exceeds the selling price compare profit c : something unintentionally destroyed or placed beyond recovery d : the amount of an insured's financial detriment due to the occurrence of a stipulated event (as death, injury, destruction, or damage) in such a manner as to create liability in the insurer under the terms of the policy NOTE: As a general rule, economic losses are deductible from adjusted gross income under section 165 of the Internal Revenue Code. There are, however, numerous exceptions and limitations. actual loss : the identifiable and calculable monetary detriment that is suffered or will be suffered as a result of an act or event actual total loss : a loss in marine insurance in which the property (as a vessel or cargo) cannot be repaired or recovered compare constru...
Book
Book, the 'book' in common acceptation is a literary composition from which one may extend or advance his or her knowledge and learning, Commr. of Customs v. Parasrampuria Synthetics Ltd., (2001) 9 SCC 74 (82).--For the purposes of s. 15 of the Copyright Act,1911, dealing with the delivery of books to certain libraries, the expression 'book' includes every part or division of a book, pamphlet, sheet of letter-press, sheet of music, map, plan, chart or table separately published, but not a second or subsequent edition of a book unless such edition contains additions or alterations either in the letterpress, or in the maps, prints, or other engravings belonging thereto. By s. 15 a copy of every book published in the United Kingdom must be sent to the British Museum, and on written demand to the Bodleian Library, Oxford, the University Library, Cambridge, the Library of the Faculty of Advocates at Edinburgh, and the Library of Trinity College, Dublin, and subject to certain provisos the N...
Book of account
Book of account, It involves either addition or subtraction or both of these operations of arithmetic. A book which contains successive entries of items may be a good memorandum book; but until those entries are totalled or balanced, or both, as the case may be, there is no reckoning and no account. In the making of totals and striking of balances from time to time lies the chief safeguard under which books of account have been distinguished from other private records as capable of containing substantive evidence on which reliance may be placed', CBI v. V.C. Shukla, (1998) 3 SCC 410: AIR 1998 SC 1406: 1998 Cr LJ 1905 (SC).-All companies registered under the (English) Companies Act,1929, are by s. 122 obliged to keep books of account of (a) all receipts and expenses with matters relating thereto; (b) all sales and purchases; and (c) the assets and liabilities of the company: these books are to be open to inspection by the directors-heavy penalties for non-compliance are imposed. The aud...
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