Confirming Bank - Law Dictionary Search Results
Home Dictionary Name: confirming bankConfirming bank
Confirming bank, when an issuing bank authorises requests another bank to confirm its irrevocable credit and the latter has added its confirmation, such confirmation constitutes a definite undertaking of such bank ('the confirming bank'), Halsbury's Laws of England, Vol. 3(1), para 262, p. 218....
May confirm
May confirm, The words 'may confirm' show that the Government has the discretion either to confirm or not to confirm and continue the detention depending upon whether the circumstances at that date have changed so as not to necessitate any more the continuation of his detention, Shibapada Mukherjee v. State of West Bengal, AIR 1972 SC 1356: (1974) 3 SCC 50.(ii) The expression 'may confirm' in cl. (f) of s. 8 of Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 is significant. It imports a discretion. Even where the Advisory Board makes a report that in its opinion, there is sufficient cause for the detention concerned, the Government may not confirm the detention order. Read in the light of art. 22(4) of the Constitution and the context of the words 'continue the detention', they definitely lead to the conclusion that the sine qua non for continuing the detention made beyond the period of three months, is the confirmation of the detention order by the ap...
Confirmation
Confirmation, a species of conveyance by which a voidable estate is made valid and unavoidable, or by which a particular estate is increased. Estates which are void cannot be confirmed, but only those which are voidable, Watkin's Conv. 321. A confirmation may make a voidable or defeasible estate good, but it cannot work upon an estate that is void at law, Co. Litt. 295 b.Confirmation in Scotland is the ratification by a competent Court of an appointment of executors, and confers a title to uplift, administer, and dispose of the personal estate of the deceased. When the appointment of the executor has been made by the deceased, the appointee is called an executor-nominate and the confirmation a testament testamentor. When the appointment has been made by the Court, the appointee is called an executor-dative, and the confirmation a testament-dative....
Confirmation of Bishop
Confirmation of Bishop, the ratification by the arch-bishop of the election of a bishop by dean and chapter under the king's letter missive prior to the consecration of the bishop by the archbishop, as directed (see CONGE D'ESLIRE) by 25 Hen. 8, c. 20. It was undecided, from1848 to 1902, whether this ceremony be ministerial or judicial, i.e., whether the archbishop can refuse to confirm. See Queen v. Archbishop of Canterbury, (1848) 11 QB 483, in which the Court of four judges was equally divided in discharging a rule for a mandamus to hear objections, on the ground of heterodoxy, to the confirmation of Dr. Hampden, as Bishop of Hereford. Since then objection has been many times taken to a confirmation:-to that of Dr. Prince Lee as Bishop of Manchester, in 1848; to that of Dr. Temple as Bishop of Exeter, in 1869; to that of Dr Temple as Archbishop of Canterbury, in 1896; to that of Dr. Creighton as Bishop of London, in 1897; to that of Dr. Ingram as Bishop of London, in 1901; and to th...
bank
bank : an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds branch bank : a banking facility that is a separate but dependent part of a chartered bank ;esp : a facility that performs some banking functions and is separate from a main office bridge bank : a national bank that is chartered for a limited time to operate an insolvent bank until it is sold central bank : a national bank that establishes monetary and fiscal policy and controls the money supply and interest rate collecting bank : a bank other than the payor bank that is handling for collection a negotiable instrument or a promise or order to pay money commercial bank : a bank organized chiefly to handle the everyday financial transactions of businesses (as through deposit accounts and commercial loans) cooperative bank : an association (as a credit union) owned by and offering banking services for its members ;specif : savings and ...
Bank
Bank, Commercially it is a place where money is deposited for the purpose of being lent out at interest, returned by exchange, disposed of to profit, or to be drawn out again as the owner shall call for it. Special provisions are contained in the (English) Companies Act, 1929 relating to Banks. By s. 358, no company, association or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of balance sheets, see s. 129 and ANNUAL RETURNS, ss. 108 and 361. See also JOINT STOCK BANKS and LIMITED LABILITY, and consult Grant, Paget, or Walker on Banking, Chitty's Statutes, tit. 'Bank.'Means financial institution engaged in the accepting of deposits of money, granting...
confirmation
confirmation 1 : the act or process of confirming, assuring, or upholding [seeking of the agreement] ;specif : the ratification of an executive act by a legislative body [senate of the Supreme Court nominee] 2 : something that confirms: as a : an express or implied contract by which a person makes a voidable agreement binding ;specif : a definite expression or written memorandum that verifies or substantiates an agreement previously made orally or informally b in the civil law of Louisiana : a declaration whereby a person corrects the parts of an obligation that are null to make them enforceable c : a conveyance by which valid title to an estate is transferred to a person already in possession or by which an estate is increased ...
Banking company
Banking company, shall have same meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949) [Income Tax Act, 1961 (43 of 1961), s. 47 (vi-aa) Exp. (i).]--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949)...
Savings banks
Savings banks, institutions for the safe custody and increase of the small savings of the poor. See Chitty's Statutes, tit. 'Savings Banks.' They are: (1) Trustee; (2) Post Office; (3) Military; (4) Statutory; (5) Uncontrolled.(1) Trustee Savings Banks are regulated by a long series of Acts (the Trustee Savings Banks Acts, 1861 to 1934), which provide that they must not be described in a manner which implies that the Government is responsible to depositors, that the money received must be paid to the Bank of England or Ireland and carried to an account kept in the names of the National Debt Commissioners, and that annual accounts must be sent to the Commissioners. An 'Inspection Committee,' estab-lished under the Savings Bank Act, 1891, has extensive powers of supervision for the purpose of detecting any breaches of the Acts or rules regulating a bank. Deposits by any depositor in more than one Trustee Savings Bank is prohibited, and the Treasury have power to limit the amount from one...
Bank-notes, or Bank-bills
Bank-notes, or Bank-bills, written or printed promises for money, to be paid by a banking company. They are uniformly made payable on demand. They are not like bills of exchange, mere securities or documents for debt, nor are they so esteemed, but are treated as money in the ordinary course and transactions of business by the general consent of mankind, and, on payment of them, whenever a receipt is required, it is always given as for money, not as for securities or notes. Per Lord Mansfield, Miller v. Race, (1758) 1 Burr at p. 457. Bank of England notes were made a legal tender by the 5th section of the Bank of England Act, 1833 (3 & 4 Wm. 4, c. 98), as amended, everywhere except at the Bank and its branches.One-pound notes and ten-shilling notes are now issued by the Bank of England, under the authority of the (English) Currency and Bank Notes (Amendment) Act, 1928, and made a legal tender for a payment of any amount. The notes first issued were found to be easy to forge, and they we...
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