Debenture - Law Dictionary Search Results
Home Dictionary Name: debentureDebenture
Debenture [fr. debeo, Lat., to owe] may be defined generally as a charge in writing [not necessarily sealed, see British India, etc., Co. v. Commissioners of Inland Revenue, (1881) 7 QBD 165] of certain pro-perty with the repayment at a time fixed of money lent by person therein named at a given interest, but the term is a very elastic one. The word 'debenture' is of ancient origin and appears to have been in use five centuries ago (Palmer's Company Precedents, Pt. III., p. 1); and a document which, though it mentions to security and is only a promise to pay, is properly described as a debentures, and as a marketable security will require to be stamped as such, Spenyer v. Inland Revenue Commissioners, (1907)1 KB 246. By the (English) Companies Act, 1929, s. 380, a debenture is defined as including debenture stock, bonds or other securities of a company whether constituting a charge on the assets of the company or not. The charge created by debentures as a rule is fixed on the company's...
Share and debenture
Share and debenture, 'Share' has been defined in s. 2(46) of the Companies Act to mean a share in the share capital of a company which in turn would mean that it would represent contribution of the shareholder towards the share capital of the company. On the other hand, a debenture is an instrument of debt executed by the company acknowledging its receipt to repay the same at a specified rate and also carrying an interest. It is in sum and substance a certificate of loan or a bond evidencing the fact that the company is liable to pay a specified amount with interest and although the money raised by the debentures becomes a part of the company's capital structure yet it does not become a share capital. In any event, a debenture would not come within the purview of the definition of goods, inasmuch as, although the shares and stocks are included in the definition of goods but debentures are not, R.D. Goyal v. Reliance Industries Ltd., (2003) 1 SCC 81 (89).Sponte virum fugiens mulier et a...
debenture
debenture [Anglo-French debentour and Medieval Latin debentura, perhaps from Latin debentur they are owed] : an unsecured bond that is backed by the issuer's general credit rather than a specific lien called also debenture bond see also indenture compare mortgage bond at bond NOTE: Debentures are often convertible to stocks. ...
Debenture stock
The debt or series of debts collectively represented by a series of debentures a debt secured by a trust deed of property for the benefit of the holders of shares in the debt or of a series of debentures By the terms of much debenture stock the holders are not entitled to demand payment until the winding up of the company or default in payment in the case of railway debentures they cannot demand payment of the principal and the debtor company cannot redeem the stock except by authority of an act of Parliament...
Debentures and shares
Debentures and shares, 'share' has been defined in, s. 2(46) of the Companies Act, 1956 mean a share in the share capital of a company which in turn would mean that it would represent contribution of the shareholder towards the share capital of the company. On the other hand, a debenture is an instrument of debt executed by the company acknowledging its receipt to repay the same at a specified rate and also carrying an interest. These are simply an instrument of acknowledgement of debt by the company whereby it undertakes to pay the amount covered by it and till then it undertakes further to pay interest thereon to the debenture-holders, R.D. Goyal v. Reliance Industries Ltd, (2003) 1 SCC 81 (89)....
Debentured
Entitled to drawback or debenture as debentured goods...
debenture bond
debenture bond see bond ...
Bearer debenture
Bearer debenture, is recognized as negotiable instrument, Halsbury's Laws of England, Vol. 8(1), 4th, Edn., Para 1091, p. 872....
County Debentures Act
County Debentures Act, 1973 (English) (36 & 37 Vict. c. 35), repealed and replaced by the Local Loans Act, 1875....
Ordnance debentures
Ordnance debentures, bills which were issued by the Board of Ordnance on the Treasurer of that office for the payment of stores, etc....
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