Commercially Reasonable - Law Dictionary Search Results
Executor
he obtain probate in time to prove his title if it should be disputed; see, however, Tarn v. Commercial Banking Co., (1884) 12 QBD 294. But he must be prepared either to act wholly or not at … after the death of the testator, and not even then without an indemnity, if there be the least reason to apprehend that there are debts or claims outstanding. This year is allowed in analogy to the Statute
Includes
meaning in the Motor Vehicles Act, 1939, and it is difficult to limit this specific meaning on any reasonable basis. Further, s. 38 of the Act, which exempts certain transport vehicles, also proceeds on the basis that … vehicles, also proceeds on the basis that a private carrier who is carrying on activities which are not commercial would be included within the expression 'motor transport undertaking', Municipal Council v. State of Madhya Pradesh, AIR 1970
Groundnut oil
not possess the characteristic colour, or taste, odour, etc. of the raw groundnut oil, Tungabhadra Industries Ltd. v. Commercial Tax Officer, AIR 1961 SC 412: (1961) 2 SCR 14. [Madras General Sale Tax (Turnover and Assessment, Rules … raw oil being separated and removed, rendering the oily content of the oil 100 per cent. For this reason refined oil continues to be groundnut oil within the meaning of rules 5(1)(k) and 18(2) of the Madras
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right
will do or will not do a given act [the defendant may be under a legal duty…to exercise reasonable care for the plaintiff's safety, so that the plaintiff has a corresponding legal to insist on that care … pl. [a security interest is not enforceable…and does not attach unless…the debtor has s in the collateral "Uniform Commercial Code"] [leasing mineral s] see also real right e pl : the interest in property possessed (as under
consideration
equivalent in value to the thing for which it is given fair consideration : a consideration that is reasonable and given in good faith ;specif : something with a reasonably equivalent value that under the laws of … sense 1 cannot create an enforceable contract. new consideration : something according to section 6-106 of the Uniform Commercial Code that becomes payable in exchange for the transfer of bulk goods nominal consideration : consideration consisting of
Que estate
A prescription in a que estate for a profit a prendre in alieno solo without stint and for commercial pur-poses is unknown to the law, Harris v. Chesterfield (Earl), 1911 AC 623. See PRESCRIPTION. … [quorum statum, Lat.], as much as to say, whose estate he has. Where prescriptive rights are claimed by reason of the continuous and immemorial enjoyment thereof by the claimant, a person seised in fee, and by all
Mistake apparent on the record
law and not to the law that was in force at the time the original order was made, Commercial Tax Officer v. Shri Venkateswara Oil Mills, AIR 1973 SC 1325: (197) 3 SCR 742: (1974) 3 SCC … an obvious and patent mistake and not something which can be established by a long drawn process of reasoning on points on which there may conceivably be two opinions. A decision on a debatable point of law
defense
instrument that may be asserted even against a holder in due course NOTE: Section 3-305(a)(1) of the Uniform Commercial Code sets out the real defenses as infancy, duress, lack of legal capacity, illegality of the transaction, fraud … a defense that does not deny the truth of the allegations against the defendant but gives some other reason (as insanity, assumption of risk, or expiration of the statute of limitations) why the defendant cannot be held
Arbitration
Enoch, (1910) 1 KB 327], and cannot award anything contrary thereto. It is, however, the recognized practice in commercial arbitrations, where an umpire is appointed, for the arbitrators on either side to act, in effect, as advocates, … County Court, Morriston Tinplate Co. v. Brooker, (1908) 1 KB 403], if satisfied that there is no sufficient reason why the matter should not be referred and that the applicant was and is ready and willing to
Service
available to potential users and includes the provision of services in connection with business of any industrial or commercial matters such as banking, communication, education, financing, insurance, chit funds, real estate, transport, storage, material treatment, processing, supply … Service [fr. servitium, Lat.], that duty which a tenant, by reason of his estate, owes to his lord. There are many divisions of this duty in our ancient law
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