Death Benefit - Law Dictionary Search Results
Home Dictionary Name: death benefit Page: 3 Page 3 of about 58 results (0.004 seconds)mature
mature ma·tured ma·tur·ing vt : to bring to maturity [a policy matured by the death of the insured] vi : to become due, payable, or enforceable ;specif : to entitle one to immediate enjoyment of benefits [her pension right matured upon retirement] compare vest mature adj ...
disability
disability pl: -ties 1 : inability to pursue an occupation because of a physical or mental impairment ;specif : inability to engage in any substantial gainful activity because of a medically determinable physical or mental impairment that can be expected to result in death or to be of long continued or indefinite duration in accordance with the Social Security Act see also benefit Americans with Disabilities Act in the Important Laws section compare incapacity, occupational disease 2 : lack of legal qualification to do something [a minor's ] ...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
Power
Power, in respect of court the word 'power' means an authority expressly or impliedly conferred on the court by law to do that which without that sanction it could not have done, consent cannot give jurisdiction, K.E. v. Vithu, (1899) 1 Bom LR 157.Power, is an authority reserved by, or limited to, a person to dispone, either wholly or partially, of movable or immovable property, either for his own benefit or for that of others. The word is used as a technical term and is distinct from the dominion which a man has over his own estate by virtue of ownership, Stroud's Judicial Dictionary.Power, is not synonymous with jurisdiction, K.E. v. Vithu, (1899) 1 Bom LR 157.Power, may be general or implied. The general powers are such as the donee can exercise in favour of such person or persons as he pleases, including himself, Mahadeo Ramchandra v. Damodar Vishwanath, AIR 1957 Bom 218.Means any form of energy which is not generated by human or animal agency. [The Gujarat Lifts and Escalators Act...
annuity
annuity pl: -ities [Medieval Latin annuitas, from Latin annuus yearly] 1 : an amount payable at regular intervals (as yearly or quarterly) for a certain or uncertain period 2 : the grant of or the right to receive an annuity [his will included annuities for several old friends] 3 : a contract (as with an insurance company) under which one or more persons receive annuities in return for prior fixed payments made by themselves or another (as an employer) annuity cer·tain pl: annuities certain : an annuity payable over a specified period even if the annuitant dies annuity due pl: annuities due : an immediate annuity in which the payment of the benefits is made at the beginning of each payment interval rather than at the end contingent annuity : an annuity whose starting or ending date depends on the occurrence of an event (as the death of the annuitant) whose date is uncertain con·ven·tion·al annuity : an annuity under which the annuitant receives a specified...
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
beneficiary
beneficiary pl: -ries : a person or entity (as a charity or estate) that receives a benefit from something: as a : the person or entity named or otherwise entitled to receive the principal or income or both from a trust compare settlor, trustee contingent beneficiary : a beneficiary that may receive proceeds from a trust depending on the occurrence of a specified event (as the death of another beneficiary) income beneficiary : a beneficiary that according to the provisions of a trust is to receive income but not the principal of the trust NOTE: A trust may provide for income to be paid to someone (as a spouse) for his or her lifetime and then for payment of the principal to another person. A trustee is sometimes allowed to distribute some of the principal of the trust to an income beneficiary when necessary for the support of the beneficiary if support of the beneficiary was the purpose of the trust. b : the person or entity named by the insured of a life insurance policy to r...
Charitable uses and trusts
Charitable uses and trusts. 9 Geo. 2, c. 26, commonly called 'The Mortmain Act,' 1735, after reciting that ifts or alienations of land in mortmain (see MORTMAIN) were prohibited by Magna Charta and other whole-some laws as prejudicial to the common utility, and that such public mischief had greatly increased by many large and improvident dispositions, made by languishing or dying persons to charitable uses, to take place after their deaths to the disherison of their lawful heirs, enacted that no lands or other hereditaments whatsoever, nor money, or personal estate to be laid out in land should be given to any person or bodies corporate, or charged by any person in trust, for any charitable uses, unless such gift, etc., should be made by deed (thus entirely excluding gifts by will) executed twelve months before the death of the donor and be enrolled in the court of Chancery within six calendar months after execution, and be without any power of revocation for the benefit of the donor.T...
Wills
Wills. A will is the valid disposition by a living person, to take effect after his death, of his disposable property. ''But in law ultima voluntas in scriptis is used, where lands or tenements are devised, and testamentum, when it concerneth chattels': Co. Litt. 111 a.Depository of Will of Living Person.-By the (English) Jud. Act, 1925, s. 172, replacing s. 91 of the Court of Probate Act, 1857:-There shall, under the control and direction of the High Court, be provided safe and convenient depositories for the custody of the wills of living persons, and any person may deposit his will therein.And see (English) Administration of Justice Act, 1928 (18 & 19 Geo. 5, c. 26), s. 11, as to deposit of wills under control of the High Court.Law before 1838.-The right of testamentary aliena-tion of lands is a matter depending on Act of Parliament. Before 32 Hen. 8, c. 1, a will could not be made of land, and before the Statute of Frauds a will (see NUNCUPATIVE WILL) could be made by word of mouth...
Trust
Trust, is a comprehensive expression, as covering not only the relationship of trustee and beneficiary but also that a bailor and bailee master and servant pledger and pledgee, guardian and ward and all other relations which postulate the existence of fiduciary relationship between the complainant and the accused, State v. K.P. Jain, (1983) 2 Crimes 947 (All).Trust, is a trust for public purposes, the substances and primary intention of the creator must be seen, Shabbir Husain v. Ashiq Husain, AIR 1929 Oudh 225.Trust, is an obligation annexed to ownership. A trustee holds property 'subject' to an obligation, which the testator has imposed upon him, Mahadeo Ramchandra v. Damodar Vishwanath, AIR 1957 Bom 218: (1957) 59 Bom LR 478.Means any arrangement whereby property is transferred with intention that it be administered for another's benefit is a trust. It casts an obligation on the trustee to use the property for achieving the purpose for which the trust is created, Baba Jamuna Das Mah...
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