Dealer Auction - Law Dictionary Search Results

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Dealer, auction

Dealer, auction, a person who in the normal course of his business attends sales by auction for the purpose of purchasing goods with a view to reselling them, Auctions (Bidding Agreements) Act, 1927, s. 1(2) (UK), Halsbury's Laws of England (2), para 944, p. 461.means a person carrying on the business of selling fertilisers, whether wholesale or retail (or industrial use), and includes a manufacturer and a pool-handling agency carrying on such business and the agents of such person, manufacturer or pool-handling agency, State of Punjab v. Gunomajra Cooperative Agriculture Service Society Ltd., (2000) 9 SCC 210.There is nothing either in the main definition in s. 2(5) or in the Explanation of the Orissa Taxation (on Goods Carried by Road and Inland Water ways) Act, 1959 to suggest that the manager or agent of the dealer (principal) should have his own business within the State of Orissa before he could be proceeded against or assessed under the Act. It would be sufficient if the manager...

Auction

Auction, signifies generally an increasing, an enhancement, and hence is applied to a public sale of property usually conducted by biddings, which augment the price. A spear used to be raised by the Romans, at the sign of a public auction, Livy, xxiii. 37; Smith's Dict. of Antiq. The Sale of Land by Auction Act, 1867 (30 & 31 Vict. c. 48), by s. 5 enacts that the particulars of sale of land by auction 'shall state whether such land will be sold without reserve, or subject to a reserved price, or whether a right to bid is reserved,' and that 'if it is stated that such land will be sold without reserve, it shall not be lawful for the seller to employ any person to bid at such sale, or for the auctioneer to take knowingly any bidding from any such person.' As to auction without reserve, see Rainbow v. Howkins, 1904 (2) KB 322. See DUTCH AUCTION; KNOCK-OUTS.The auctions (English) (Bidding Agreements) Act, 1927 (17 & 18 Geo. 5, c. 12), was designed to make it illegal for a dealer to give an...

Knock-out

Knock-out. The arrangement made between persons attending an auction to refrain from bidding in competition one with the other on the sale of certain articles and for the subsequent private sale among themselves of the Articles thus bought at a low price.At Common Law such an agreement is not illegal [Rawlins v. General Trading Co., (1921) 1 KB 635], and to an action by the purchaser of goods sold by auction for the delivery up of the goods, the fact that the sale was a 'knock-out' does not of itself afford a defence [Cohen v. Roche, (1927) 1 KB 169], but now the (English) Auctions (Bidding Agreements) Act,1927 (17 & 18 Geo. 5, c. 12), prohibits a dealer from giving any consideration or reward to anyone for abstaining or having abstained from bidding, under penalty on summary conviction to a fine not exceeding 100l. or imprisonment for not more than three months. A bona fide joint account, a copy of such agreement has been deposited before purchase with the auctioneer, is not an offenc...

Dealer

Dealer, in relation to any dangerous machine or any part thereof, means a person who, or a firm or a Hindu undivided family which, carries on, directly or otherwise, the business of buying, selling, supplying or distributing any dangerous machine or any part thereof, whether for cash or for deferred payment or for commission, remuneration or other valuable consideration, and includes-(i) a commission agent who carries on such business on behalf of any principal;(ii) an importer who sells, supplies, distributes or otherwise delivers any dangerous machine to any user, manufacturer, repairer, consumer or any other person. But does not include a manufacturer who sells, supplies, distributes or otherwise delivers any dangerous machine or any part thereof to any person or category of persons referred to in this clause. [Dangerous Machines (Regulation) Act, 1983 (35 of 1983), s. 3 (e)](2) includes a person who is engaged--(a) in building bodies for attachment to chassis; or (S. 2 (8)(b) The M...

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