Bought And Sold - Law Dictionary Search Results
Home Dictionary Name: bought and soldBought and Sold Notes
Bought and Sold Notes. It is no longer the custom for brokers who have succeeded in making a contract to make any entry in their books save for their own private information, and it is now almost the universal practice to regard the bought and sold notes as the proper evidence of the contract. The broker sends to the seller a 'sold note' and to the buyer a 'bought note,' these being now the usual terms, though formerly their use was sometimes the converse. When each note discloses the name of both parties to the transaction, each is a complete memorandum of the bargain. When each note only discloses the name of one party, the two may be treated as one memorandum. The bought and sold notes are deemed to constitute a single document, and if they differ materially they are nullities unless one has been assented to by the parties as containing the terms of the contract.Every contract note for or relating to the sale or purchase of any stock or marketable security must be stamped when the v...
Bought and sold
Bought and sold, when a person buys an article from another person, that other persons at the same time sells him that article and it is in that sense that s. 11(1) uses the words 'bought and sold, Krishna Coconut Co. v. E.G.C. and Tobacc Market Committee, AIR 1967 SC 973 (977): (1967) 1 SCR 974. [Madras Commercial Crop & Markets Act (20 of 1933), s. 11(1)]...
Foreign bought and sold
Foreign bought and sold, a custom in London which prevented merchants other than freemen of the City from dealing in cattle in Smithfield, was abolished in 1671....
Goods
Goods, Computer programs are the product of an intellectual process, but once implanted in a medium they are widely distributed to computer owners. An analogy can be drawn to a compact-disc recording of an orchestral rendition. The music is produced by the artistry of musicians and in itself is not a 'good', but when transferred to a laser-readable disc it becomes a readily merchant-able commodity. Similarly, when a professor deliv-ers a lecture, it is not a good, but, when transcribed as a book, it becomes a good. That a computer program may be copyrightable as intellectual property does not alter the fact that once in the form of a floppy disc or other medium, the program is tangible, moveable and available in the marketplace. The fact that some programs may be tailored for specific purposes need not alter their status as 'goods' because the Code definition includes 'specially manufactured goods', Advent Systems Ltd. v. Unisys Corpn., 925 F. 2d 670 3dCir 1991. Associated Cement Compa...
Turnover
Turnover, in laws dealing with Sales Tax, 'turnover' includes tax in calculating the total turnover, there is nothing wrong in treating the tax as part of the turnover, because, 'turnover' means the amount of money which is turned over in the business, George Oakes (P) Ltd. v. State of Madras, AIR 1962 SC 1352.Turnover is defined to mean: 'the aggregate amount for which goods are bought or sold or supplied or distributed by a dealer either directly or through another on his own account or on account of others whether for cash or for deferred payment or for other valuable consideration, Joint Commercial Tax Officer v. Young Men's Association (Regd.), AIR 1970 SC 1212 (1215): (1970) 1 SCC 462: (1970) 3 SCR 680.Turnover means an aggregate amount for which goods are either bought by or sold by a dealer, whether for a cash or for deferred payment or other valuable consideration, State of Andhra Pradesh v. H. Abdul Bakhi and Brothers, AIR 1965 SC 531 (532): (1964) 7 SCR 664. [Hyderabad Gener...
Marketable
Marketable, such things as may be sold; those for which a buyer may be found. See FAIRS.By marketable it does not mean that the goods must be actually bought and sold in the market. But the goods must be capable of being bought or sold in the market. The law also is that goods which are in the crude or unstable form and which require a further processing before they can be marketed, cannot be considered to be marketable goods merely because they fall within the Schedule to the Excise Act, Cadila Laboratories Pvt. Ltd. v. C.C.E., (2003) 4 SCC 12: AIR 2003 SC 1700 (1703). [Central Excise Act (1 of 1944), s. 3]...
Sold Note
Sold Note. See BOUGHT AND SOLD NOTES....
secondary market
secondary market 1 : the market in which previously issued securities are sold compare primary market 2 : the market in which existing mortgages are bought and sold ...
Resell
To sell again to sell what has been bought or sold to retail...
Sale Notes
Sale Notes. See BOUGHT AND SOLD NOTES....
- << Prev.
- Next >>