Commercial Law - Law Dictionary Search Results
commercial law
commercial law : the legal rules and principles bearing on commercial transactions and business organizations see also Uniform Commercial Code in the Important Laws section ...
Property
Property, an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252.Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected privy purse, See M.M. Pathak v. Union of India, AIR 1978 SC 802.Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201.Every movable property is included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70.In commercial law this may carry its ordinary meaning of the subject-matter of ownership. But elsewhere, as in the sale of goods it may be used as a synonym for ownership and lesser rights in goods, Dictionary of Commercial Law by A.H. Hudson, (1983, Edn.).In Entry 42, List III (Constitution of India) includes the power to legislate for acquisition of an un...
Law merchant
Law merchant [lex mercatoria, Lat.], that part of the law of England which governs mercantile transactions. It is founded upon the general custom of merchants of all nations, which, though different from the general rules of the Common Law, has been gradually engrafted into it and made to form part of it. See Introduction to Smith's Merc. Law.Law merchant, means a system of customary law that developed in Europe during the Middle Ages and regulated the dealings of mariners and merchants in all the commercial countries of the world until the 17th century. Many of the law merchant's principles came to be incorporated into the common law, which in turn formed the basis of the Uniform Commercial Code. Also termed commercial law: lex mercatoria, Black's Law Dictionary, 7th Edn., p. 893....
law merchant
law merchant : the commercial rules developed under English common law that influenced modern commercial law and that are referred to as supplementing rules set down in the Uniform Commercial Code and in state codes ...
Maritime law
Maritime law, the law relating to harbours, ships, and seamen. An important branch of the commercial law of maritime nations; divided into a variety of departments, such as those about harbours, property of ships, duties and rights of masters and seamen, contracts of affreightment, average salvage, etc. No system or code of maritime law has ever been issued by authority in Great Britain. The laws and practices that now obtain amongst us have been founded on the practice of merchants, the principles of the Civil Law, the laws of Oleron and Wisby the works of juris-consults, the judicial decisions of our own and foreign countries, etc. though still susceptible of amendment, our system corresponds more nearly than any other system of maritime law with those universally recognised principles of justice and general convenience on which merchants and navigators should act.The decisions of Lord Mansfield did much to fix the principles and to improve and perfect the maritime law of England. It...
Fraud
Fraud, a fraud is an act of deliberate deception with the design of securing something by taking unfair advantage of another. It is a deception in order to gain by another's loss. It is a cheating intended to got an advantage, S.P. Chengalvaraya Naidu v. Jagannath, AIR 1994 SC 853 (855): (1994) 1 SCC 1.A term used in a variety of meanings. At Common Law, fraud is actionable under the heading of deceit (q.v.).A knowing misrepresentation of the truth or con-cealment of a material fact to induce another to act to his or her detriment, Black's Law Dictionary, 7th Edn., p. 670.In equity and upon the equitable principles which are now applicable in any Court of law, fraud may be described as an infraction of the rules of fair dealing. For the action at law intention and representation (q.v.) are material. In equity an act or its consequences to the person aggrieved may be of greater importance than the intention of the defendant or any representation made to the plaintiff, and the same may b...
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...
financing statement
financing statement : a statement that contains information about a security interest in collateral used to secure a debt and that is filed to provide notice to other creditors of the security interest see also perfect Uniform Commercial Code in the Important Laws section compare financial statement NOTE: Under Article 9 of the Uniform Commercial Code, a financing statement must 1) give the names of the debtor and the secured party, 2) be signed by the debtor, 3) give the address of the secured party, 4) give the address of the debtor, and 5) indicate the items of collateral. ...
reclamation
reclamation 1 : the act or process of reclaiming [the of goods delivered to an insolvent buyer] 2 : a right to reclaim (as under commercial law) ...
Commercial establishment
Commercial establishment, in the definition of a Commercial Establishment in s. 2 cl. 3 of the U.P. Shops and Commercial Eastblishment Act, 1947, the clerical and other establishments of a factory to whom the provisions of the Factories Act, 1934, do not apply, are included in the connotation of that expression. It is true that the reference in the definition by which clerical and other establish-ments of factories are included is to the Factories Act of 1934, but by virtue of s. 8 of the General Clauses (1987 10 of 1897), it must be construed as a reference to the provisions of the Factories Act LXIII of 1948 which repealed the Factories Act of 1934 and re-enacted it. It is difficult to say that field workers who are employed in guiding, supervising and controlling the growth and supply of sugarcane to be used in the factory are employed either in the precincts of the factory or in the premises of the factory; and if these workers are not employed in a factory, the provisions of the F...
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