Bust Up - Law Dictionary Search Results
Home Dictionary Name: bust upbust up
a serious quarrel especially one that ends a friendship...
busted
Inoperable due to damage broken of a machine as the coke machine is busted...
Block-busting
Block-busting, means a profiteering by inducing property owners to sell hastily and often at a loss by appeals to fears of nority encroachment and then reselling at inflated prices, Webster's Dictionary of Law, Indian Edn. (2005), p. 53....
Winding-up
Winding-up, the process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies.The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other cases the winding-up is usually voluntary and conducted by the company itself either with or without the supervision of the Court. The provisions of the (English) Companies Act, 1929, govern a winding-up in any of these three modes (s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if not of certain value to be...
Voluntary winding up and winding up by the court
Voluntary winding up and winding up by the court, the expressions 'voluntary winding up' and 'winding up by the Court' have acquired a technical meaning in our Company and Insurance jurisprudence. Like the Co-operative Society Laws, the Companies Act and the Insurance Act also make a distinction between the cessation of business by a company and its voluntary winding up or winding up by an order of the Court. There is nothing unequivocal in s. 15(a) of the Act to show that Parliament intended to depart from the technical meaning of 'voluntary winding up' and 'winding up by the Court' and to bid a good-bye to the distinction in our Company and Insurance jurisprudence between mere cessation of business by a company and its voluntary winding up or winding up by an order of the Court. The phrase 'voluntarily wound up' in the first limb would mean the voluntary winding up of an insurance public company in accordance with s. 54 of the Insurance Act, The Neptune Assurance Co. Ltd.v. Union of ...
wind up
wind up wound up wind·ing up : to bring to an end by taking care of unfinished business [ordered to wind up his practice] ;specif : to conclude by removing liabilities and distributing any remaining assets to partners or shareholders [wind up the business and affairs of a corporation in dissolution] [wind up a receivership] ...
Set up
Set up, means a unit cannot be said to have been set up, unless it is ready to discharge the function for which it is being set up. It is only when the unit has been put into such a shape that it can start functioning as a business or a manufacturing organization that it can be said that the unit has been set up. The word 'set up' in the principal clause is equivalent to the word established, CWT Madras v. RS Cotton Mills, AIR 1967 SC 509: (1967) 1 SCJ 123: (1967) 1 ITJ 1: (1967) 1 Andh WR (SC) 25: (1967) 1 Mad LJ (SC) 25: (1967) 63 ITR 478....
Affairs of a company have been completely wound up
Affairs of a company have been completely wound up, The phrase 'the affairs of a company have been completely wound up' significant. It shows that the expressions 'winding up of a company' and 'winding up of the affairs of a company' convey the same sense, for we think that the phrase 'the affairs of a company' means the business affairs of the company, The Neptune Assurance Company Ltd. v. Union of India (1973) 2 SCR 940: AIR 1973 SC 602: (1973) 1 SCC 310. [General Insurance (Emergency Provisions) Act (17 of 1971) s. 15(a)]...
Quality is up to the mark
Quality is up to the mark, the words 'quality is up to the mark' mean that the quality of the article is up to the standard required by the Act and the vendee. Quality in this context would include nature and substance because the name of the article is given in the cash memo. It must be remembered that it is not a document drafted by a solicitor; it is a document using the language of a tradesman. Any tradesman, when he is assured that the quality of the article is up to the mark will readily conclude that he is being assured that the article is not adulterated, K. Ranganatha Reddiar v. State of Kerala, AIR 1970 SC 520 (521): (1969) 2 SCC 457: (1970) 1 SCR 864....
Voluntarily given up his membership
Voluntarily given up his membership, the words 'voluntarily given up his membership' are not synonymous with 'resignation' and have a wider connotation. A person may voluntarily give up his membership of a political party even though he has not tendered his resignation from the membership of that party. Even in the absence of a formal resignation from membership an inference can be drawn form the conduct of a member that he was voluntarily given up his membership of the political party to which he belongs, Ravi S. Naik v. Union of India, 1994 Supp (2) SCC 641: AIR 1994 SC 1558 (1565). [Constitution of India, Sch. 10, Para 2(1)(a)]...
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