Cash Reserves - Law Dictionary Search Results
Home Dictionary Name: cash reservescash reserves
cash reserves a cash amount sometimes required of the buyer to be held in reserve in addition to the down payment and closing costs; the amount is determined by the lender. Source: U.S. Department of Housing and Urban Development ...
capital or cash reserves
capital or cash reserves an individual's savings, investments, or assets. Source: U.S. Department of Housing and Urban Development ...
Reserve city
In the national banking system of the United States any of certain cities in which the national banks are required U S Rev Stat sec 5191 to keep a larger reserve 25 per cent than the minimum 15 per cent required of all other banks The banks in certain of the reserve cities specifically called central reserve cities are required to keep their reserve on hand in cash banks in other reserve cities may keep half of their reserve as deposits in these banks U S Rev Stat sec 5195...
piti reserves
piti reserves a cash amount that a borrower must have on hand after making a down payment and paying all closing costs for the purchase of a home. The principal, interest, taxes, and insurance (PITI) reserves must equal the amount that the borrower would have to pay for PITI for a predefined number of months. Source: U.S. Department of Housing and Urban Development ...
cash surrender value
cash surrender value : the amount of money an insurer will pay the insured upon surrender of a life insurance policy usually calculated as the reserve held by the insurer against the policy less a charge for surrender and any outstanding indebtedness ...
reserve
reserve re·served re·serv·ing : to keep back or set apart: as a : to keep (a right, power, or interest) esp. by express declaration [all rights reserved] compare waive b : to defer a determination of (a question of law) [the justices reserved the question because it was not an issue in the case] n 1 : something stored or kept available for future use [an energy company with various unproven oil s] 2 : an act of reserving 3 : money kept in a separate account to meet future liabilities legal reserve : the minimum amount as determined by government standards of the deposits held by a bank or of the assets of a life insurance company required by law to be kept as reserves loss reserve 1 : a reserve allocated by a bank for the purpose of absorbing losses [a loan loss reserve] 2 : an insurance company's reserve representing the discounted value of future payments to be made on losses which may have already occurred policy reserve : an insurance company's reserve r...
Reserve Forces
Reserve Forces. 1. Army.--The (English) Reserve Forces Act, 1882 (45 & 46 Vict. c. 48), repealing and consolidating the prior Acts on the subject, established an 'Army Reserve' and a 'Militia Reserve.' The 'Army Reserve' consists of time-expired regular soldiers who are on its strength by reason of the terms of their enlistment or by re-engagement. As to the present character of the Militia, see that title. The Reserve is further strengthened by the Territorial Army Reserve, consisting of a reserve division, and also by a body composed of owners of motor cars who are liable to military service in an emergency, and the Act has been applied to an Air Force Reserve and Auxiliary Air Force Reserve under 7 & 8 Geo. 5, c. 51, and 14 & 15 Geo. 5, c. 15, and S.R. & O. 1924 (Nos. 1212 and 1213) and 1934 (No. 592). By 11 & 12 Geo. 5, c. 37, the 'Territorial Force' which was provided for in the Territorial and Reserve Forces Act, 1907 (7 Edw. 7, c. 9), became the 'Territorial Army,' and the speci...
Reserve
Reserve, the term 'reserve' is not defined in the Act. The dictionary meaning of the word 'Reserve' is: To keep for future use or enjoyment; to store up for some time or occasion; to refrain from using or enjoying at once. To keep back or hold over to a later time or place or for further treatment. To set apart for some purpose or with some end in view; to keep for some use. To retain or preserve for certain purposes.' (Oxford Dictionary). In Webster's New International Dictionary, Second Edition, page 2118, 'Reserve' is defined as follows:To keep in store for future or special use; to keep in reserve; to retain, to keep, as for oneself. To keep back; to retain or hold over to a future time or place. To preserve, Commissioner of Income Tax v. Century Spinning and Manufacturing Co., AIR 1953 SC 501: (1954) SCR 203.(ii) As to what the word 'Reserves' as used in the Business Profits Tax Act connotes, was considered by this Court in Commissioner of Income-tax v. Century Spinning & Manufact...
cash out
cash out 1 : to prematurely redeem the securities of (a holder) often as part of a merger [the merging company will cash out the minority shareholders] 2 a : to accept payment for (a security) in full often unwillingly [the shareholders were required to cash out their shares] b : to dispose of (one's goods or assets) by sale [cashed out his investment] cash-out n ...
Wholesale cash price
Wholesale cash price, there can be no doubt that the 'wholesale cash price' has to be ascertained only on the basis of transactions at arms length. If there is a special or favoured buyer to whom a special low price is charged because of extra-commercial considerations, e.g. because he is relative of the manufacturer, the price charged for those sales would not be the 'wholesale cash price' for levying excise under s. 4(a) of the Act, A.K. Roy v. Voltas Limited, AIR 1973 SC 225 (228): (1973) 3 SCC 503: (1973) 2 SCR 1089. [Central Excise and Sales Act, 1944, s. 4(a)]Where a manufacturer sells the goods manufactured by him in wholesale to a wholesale dealer at arms length and in the usual course of business, the wholesale cash price charged by him to the wholesale dealer less trade discount would represent the value of the goods for the purpose of assessment of excise. That would be the wholesale cash price for which the goods are sold at the factory-gate within the meaning of s. 4(a), A...
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