Capital Goods - Law Dictionary Search Results
Home Dictionary Name: capital goods Page: 2Industry
Industry, 'Industrial dispute' and 'workman' taken in the extended significance, or exclude it. Though the word 'undertaking' in definition of industry is wedged in between business and trade on the one hand and manufacture on the other, and though therefore it might mean only a business or trade undertaking, still it must be remembered that if that were so, there was no need to use the word separately from business or trade. The wider import is attracted even more clearly when we look at the latter part of the definition which refers to 'calling, service, employment, or industrial occupation of, avocation of workman. 'Undertak-ing' in the first part of the definition and 'industrial occupation or avocation in the second part obviously mean much more than what is ordinarily understood by trade or business. The definition was apparently intended to include within scope what might not strictly be called a trade or business venture, Bangalore Water Supply and Sewerage Board v. A. Rajappa,...
Shop-Lifting Act
Shop-Lifting Act (10 Wm. 3, c. 12), by which stealing goods to the value of five shillings was a capital felony, repealed in 1826 by 7 & 8 Geo. 4, c. 27....
profit
profit 1 : gain in excess of expenditures: as a : the excess of the selling price of goods over their cost b : net income from a business, investment, or capital appreciation compare earnings, loss 2 : a benefit or advantage from the use of property see also mesne profits, profit a prendre compare easement, right of way, servitude ...
chattel
chattel [Old French chatel goods, property, from Medieval Latin capitale, from neuter of capitalis chief, principal see capital ] : an item of tangible or intangible personal property ;esp : chattel personal in this entry NOTE: In some jurisdictions the term chattel is restricted to items of tangible and movable personal property. Other jurisdictions also classify intangible assets and property items as chattels. chattel personal pl: chattels personal : an item of tangible movable personal property (as livestock or an automobile) that is not permanently connected with real estate chattel real pl: chattels real : an interest (as a leasehold or profit a prendre) in an item of immovable property (as land or a building) that is less than a freehold estate compare fixture NOTE: Interests that are considered chattels real have been treated by the common law as personal property despite being interests in real property. ...
capitalism
An economic system based on predominantly private individual or corporate investment in and ownership of the means of production distribution and exchange of goods and wealth contrasted with socialism or especially communism in which the state has the predominant role in the economy...
partnership
partnership : an association of two or more persons or entities that conduct a business for profit as co-owners see also Uniform Partnership Act in the Important Laws section compare corporation, joint venture, sole proprietorship NOTE: Except in civil law as practiced in Louisiana, where a partnership, like a corporation, is considered a legal person, a partnership is traditionally viewed as an association of individuals rather than as an entity with a separate and independent existence. A partnership cannot exist beyond the lives of the partners. The partners are taxed as individuals and are personally liable for torts and contractual obligations. Each partner is viewed as the other's agent and, traditionally, is jointly and severally liable for the tortious acts of any one of the partners. commercial partnership : trading partnership in this entry family partnership : a partnership in which the partners are members of a family general partnership : a partnership in which ea...
Rate
Rate, A contribution levied by some public body for a public purpose, as a poor rate, a highway rate, a sewers rate, upon, as a general rule, the occupiers of property within a parish or other area.Proportional or relative value; the proportion of which quantity or value is adjusted, Black's Law Dictionary, 7th Edn., p. 1268.The term 'rate' is also used to mean a charge by a water, gas, railway, or other public undertaking for services rendered e.g., (English) Railways Act, 1921, s. 20; Metropolitan Water Board Charges Act, 1921 (11 & 12 Geo. 5, c. xciv.).The poor rate was levied under the (English) Poor Relief Act, 1601 (43 Eliz. s. 2), on the occupiers in each parish of 'lands, houses, tithes, coal mines, or saleable underwoods,' and the (English) Rating Act, 1874, extended the liability to rates to: (1) land used for a plantation or a wood, or for the growth of saleable underwood, and not subject to any right of common; (2) rights of fowling, shooting, taking, or killing game, or ra...
stock
stock 1 a : the equipment, materials, or supplies of a business b : a store or supply accumulated ;esp : the inventory of the goods of a merchant or manufacturer 2 : the ownership element in a corporation usually divided into shares and represented by transferable certificates ;also : the certificate evidencing ownership of one or more shares of stock capital stock 1 : the stock that a corporation may issue under its charter including both common and preferred stock 2 : the outstanding shares of a joint stock company considered as an aggregate 3 : capitalization common stock : a class of stock whose holders share in company profits (as through dividends) on a pro rata basis, may vote for directors and on important matters such as mergers, and may have limited access to information not publicly available cumulative preferred stock : preferred stock whose holders are entitled to the payment of cumulative dividends as well as current dividends before common stockholders are ...
Hire-purchase agreement
Hire-purchase agreement, Hire-purchase agreements are executor contracts under which the goods are let on hire and the hirer has an option to purchase in accordance with the terms of the agreement. These types of agreements were originally entered into between the dealer and the customer and the dealer used to extend credit to the customer. But as hire-purchase scheme gained in popularity and in size, the dealers who were not endowed with liberal amount of working capital found it difficult to extend the scheme to many customers. Then the financiers came into the picture. The finance company would buy the goods from the dealer and let them to the customer under hire-purchase agreement. The dealer would deliver the goods to the customer who would then drop out of the transaction leaving the finance company to collect installments directly from the customer. Under hire-purchase agreement, the hirer is simply paying for the use of the goods and for the option to purchase them. The finance...
Unclaimed property
Unclaimed property. This devolves on the Crown at Common Law. Unclaimed property may be dealt with under the heads of (1) Government Stock, (2) Chancery Funds, (3) Stock in Public Companies, (4) Bankers' Balances, (5) Deposits with Bankers for Safe Custody, and (6) Found Property.(1) Government Stock.-The National Debt Act, 1870 (33 & 34 Vict. c. 71), ss. 51 et seq., as extended by 20 & 21 Geo. 5, c. 28, s. 49 provides that stock on which no dividend has been claimed for ten years must be transferred to the National Debt Commissioners. Lists of names in which the stock stood, with residence, description and amount of stock and date of transfer, are to be kept at the Bank of England [or Ireland, but see 13 Geo. 5, c. 2, s. 6 (d)] and at the National Debt Office, open to inspection, and also kept in duplicate at the National Debt Office. The stock may be re-transferred to persons showing title after, in the case of stock exceeding 20l., three months' public notice by advertisement. A sec...
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