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Magna Carta

collection of statutes in thirty-seven chapters, which are for the most part declaratory of our ancient and cherished customs, supplying, however, many of the deficiencies of the Common Law. 'Codes are not made; they make themselves,' said

Common Law

the statute law. It depends for its authority upon the recognition given by our Law Courts to principles, customs, and rules of conduct previously existing among the people. This recognition was formerly enshrined in the memory of

Custom stations

Custom stations, a customs station has, by reason of the explanation to s. 2(ab), the same meaning as in the Customs Act,

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Banker

Banker, one who receives money to be drawn out again as the owner has occasion for it, the customer being lender, and the banker borrower, with the superadded obligation of honouring the customer's cheques up to the

Custom

to the option of every person, whether he will use it or not; and (7) consistent with other customs, for one custom cannot be setup in opposition to another; see 1 Bl. Com. 76. Customs are of

Inland revenue

and duties on property and income, houses, stamps, probates, legacies, etc., as distinguished from the portion derived by customs duties (see CUSTOMS) from imported commodities-such as foreign wine and spirits, tea, etc. It is supervised by (English)

Police officer

officer, the expression 'police officer' used in s. 523, Criminal Procedure Code, is to be construed strictly. A Customs Officer cannot be regarded as police officer, Assistant Collector of Customs v. Tilak Raj Shiv Dayal, AIR 1969

Goodwill

property employed therein, incon-sequence of the general public patronage and encouragement which it receives from constant or habitual customers; see Trego v. Hunt, 1896, AC 7. It is considered a subject of sale and part of and

letter of credit

letter of credit :a document issued to a beneficiary at the request of the issuer's customer in which the issuer (as a bank) promises to honor a demand for payment by the beneficiary in

Hire-purchase agreement

the terms of the agreement. These types of agreements were originally entered into between the dealer and the customer and the dealer used to extend credit to the customer. But as hire-purchase scheme gained in popularity and

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