Commercial Unit - Law Dictionary Search Results
Home Dictionary Name: commercial unitcommercial unit
commercial unit : an item or group of items defined under section 2-105 of the Uniform Commercial Code as being viewed in commerce as a single whole that would be diminished in value if divided NOTE: Under U.C.C. section 2-606, when a part of a commercial unit is accepted by a buyer, the entire commercial unit is deemed to be accepted. ...
Commercial unit
Commercial unit, is an agricultural unit, which is large enough to provide full-time employment for the occupier and one other man (or equivalent employment for the occupier and members of his family or other persons) and an intermediate unit is one capable of providing full-time employment for the occupier, Agriculture Act, 1967, sub-ss. 40(2), 75(2) (UK) Halsbury's Laws of England, Vol. 1(2), para 572, p. 308....
Commercial unit of agricultural land
Commercial unit of agricultural land, is a unit capable, when framed under competent manage-ment of producing a net annual income of an amount not less than the aggregate of the average annual earnings of two full-time male agricultural workers aged 20 or over, Halsbury's Laws of England, Vol. 1(2), para 367, p. 195....
Commercial assets
Commercial assets, of a building society comprise the society's class 1, class 2 and 3 assets. The aggregate of a society's class 1, class 2 and class 3 assets constitutes the total commercial assets of the society. Class 1 assets comprise class 1 advances secured on land in the United Kingdom or on land in the Isle of Man, the Channel Island or Gibraltar. Class 2 assets comprise class 2 advances secured on land in the United Kingdom or on land in the Isle of Man, the Channel Islands or Gibraltar. Class 3 assets comprise loons for mobile homes, Halsbury's Laws of England, Vol. (2), para 762, p. 464....
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...
International Commercial Arbitration
International Commercial Arbitration, the definition of 'international commercial arbitration' makes no distinction between international commercial arbitrations which take place in India or internalcommercial arbitrations which take place outside India, AIR 2002 SC 1432 (1439): (2002) 4 SCC 105. [Arbitration and Conciliation Act, 1996, s. 2(f)]International commercial arbitration means an arbitration relating to disputes arising out of legal relationships, whether contractual or not, con-sidered as commercial under the law in force in India and where at least one of the parties is-(i) an individual who is a national of, or habitually resident in, any country other than India; or(ii) a body corporate which is incorporated in any country other than India; or(iii) a company or an association or a body of individuals whose central management and control is exercised in any country other than India; or(iv) the Government of a foreign country. [Arbitra-tion Act, 1996 (26 of 1996), s. 2(1) (...
commercially reasonable
commercially reasonable : fair, done in good faith, and corresponding to commonly accepted commercial practices [a secured party after default may sell…the collateral in its then condition or following any commercially reasonable preparation "Uniform Commercial Code"] ...
Commercial Court
Commercial Court, the name given to a court presided over by a single judge for the trial, as expeditiously as may be, of cases set down in a commercial list at the Royal Courts of Justice. The list was established in 1896 [not by any Rule of the Supreme Court, but by inherent power of the High Court or any Division of it to arrange its business-see Barry v. Peruvian Corporation, (1896) 1 QB 109]-and Mr. Justice Mathew was the first judge. The particular circumstances and the question in issue must be considered in order to decide whether a case should be made a commercial cause, see Insurance Co. v. Carr, 1901 (1) KB 7. See Annual Practice, part vi., 'Commercial Causes,' and Encyclop'dia of the Laws of England....
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 ...
commercial speech
commercial speech : speech (as advertising) that proposes a commercial transaction compare pure speech, symbolic speech NOTE: Commercial speech is entitled to a lesser level of protection under the First Amendment than speech which is an expression of one's thoughts. ...
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