Demand Liabilities - Law Dictionary Search Results
Home Dictionary Name: demand liabilities Page: 2Bailment
Bailment [fr. bailler, Fr., to deliver], a compendious expression to signify a contract resulting from delivery; perhaps best defined as a 'delivery of a thing in trust for some special object or person, and upon a contract express or implied, to conform to the object or purpose of the trust.'In the celebrated case of Coggs v. Bernard, (1704) Ld Raym 909; 1 Sm L C, Lord Holt divided bailments thus:-(1) Depositum, or a naked bailment of goods, to be kept for the use of the bailor.A restaurant keeper has been held liable for loss of an overcoat entrusted by a customer to a waiter, Ultzen v. Nicols, (1894) 1 QB 92; Orchard v. Bush & Co., (1898) 2 QB 284.(2) Commodatum. Where goods or chattels that are useful are lent to the bailee gratis, to be used by him. See Coughlin v. Gillison, (1899) 1 QB 145.(3) Locatio rei. Where goods are lent to the bailee to be used by him for hire.(4) Vadium. Pawn or pledge.(5) Locatio operis faciendi. Where goods are delivered to be carried, or something is t...
Firm
Firm, a firm is not a legal entity. It is only a collective or compendious name for all the partners. In other words, a firm does not have any existence away from its partners. A decree in favour of or against a firm in the name of the firm has the same effect as a decree in favour of or against the partners. While the firm is incurring a liability it can be assumed that all the partners were incurring that liability and so the partners remain liable jointly and severally for all the acts of the firm. This principle cannot be stretched and extended to such situations in which the firm is deemed to be a person and hence a legal entity for certain purpose, Dena Bank v. Bhikhabhai Prabhudas Parekh, (2000) 5 SCC 694: AIR 2000 SC 3654 (3660).The name of style under which any business is established. 'Partners who have entered in partnership with one another are' for the purposes of the Partnership Act (see PARTNERSHIP) called collectively a firm, and the name under which their business is c...
charge
charge 1 a : something required : obligation b : personal management or supervision [put the child in his ] c : a person or thing placed under the care of another 2 : an authoritative instruction or command ;esp : instruction in points of law given by a judge to a jury [conviction…reversed, because of trial court's "W. R. LaFave and A. W. Scott, Jr."] 3 a : an incurred expense b : the price demanded for something (as admission or use) [a finance ] c : a debit to an account ;esp : a debit resulting from unexpected operating expenses [a against earnings] 4 : a formal allegation of an offense or wrongdoing [based on a that was dismissed "National Law Journal"] see also complaint, indictment, information vt charged charg·ing 1 a : to impose a task or responsibility on [was charged with protecting civil rights] b : to command or instruct with authority ;esp : to give a charge to (a jury) [the jury should have been charged on common-law negligence "National Law J...
protest
protest 1 : a solemn declaration of opinion and usually of disagreement: as a : a solemn written declaration by a notary public or U.S. consul on behalf of the holder of an instrument (as a note) announcing dishonor and declaring the liability of all parties to the instrument for any loss or damage arising from such action ;also : the action of making or causing to be made such a declaration with due service of notice of dishonor b : a declaration made by the master of a ship before a notary, consul, or other authorized officer upon arrival in port after a disaster declaring that any loss was not the fault of the crew but due to the disaster c : a declaration made by a party esp. before or while paying a tax or performing a demanded act by which the declarer asserts that the justice or legality of the tax or act is disputed and that compliance is not voluntary 2 : the act of objecting or a gesture of disapproval ;esp : a usually organized public demonstration of disapproval ...
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...
Conversion and detinue
Conversion and detinue, a conversion is an act of wilful interference, without lawful justification, with any chattel in a manner inconsistent with the right of another, whereby that other is deprived of the use and possession of it. If a carrier or other bailee wrongfully and mistakenly delivers the chattel to the wrong person or refuses to deliver it to the right person, he can be sued as for a conversion. The action of detinue is based upon a wrongful detention of the plaintiff's chattel by the defendant, evidence by a refusal to deliver it upon demand and the redress claimed is not damages for the wrong but the return of the chattel or its value. If a bailee unlawfully or negligently loses or parts with possession he cannot get rid of his contractual liability to restore the bailor's property on the termination of the bailment and if he fails to do, he may be sued in detinue, Dhian Singh Sobha Singh v. Union of India, AIR 1958 SC 274 (278)....
Deposit
Deposit, money paid to a person as an earnest or security for the performance of some contract, especially a contract for the sale of real estate. Also a naked bailment of goods to be kept for the bailor without recompense, and to be returned when the bailor shall require it. The appellation and the definition are both derived from the civil law. Depositum est quod custodiendum alicui datum est. It is, in the civil law, divisible into two kinds: (1) necessary, made upon some sudden emergency, and from some pressing necessity; as, for instance, in case of a fire, a shipwreck, or other overwhelming calamity, when property is confided to any person whom the depositor may meet without proper opportunity for reflection or choice, and thence it is called miserabile depositum; (2) voluntary, which arises from the mere consent and agreement of the parties. the Common Law has made no such division. There is another class of deposits, called involuntary, which may be without the assent or even k...
Deposit (Involuntary)
Deposit (Involuntary), where a chattel is sent, without request or arrangement, by one person to another who does not hold himself out as willing to receive it, the person to whom it is sent is under no liability to the sender for its safe custody or protection, but must not use it or otherwise convert it to his own use, Halsbury's Laws of England (2), para 1810, p. 37.Means a sum of money paid on terms: (1) under which it will be repaid, with or with out interest or a premium and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it, and (2) which are not referable of the provision of property or services or the giving of security; and references in the Act to money deposited and to the making of a deposit are to be construed accordingly, (Banking Act, 1987) Halsbury's Laws of England 3(1), para 24, p. 20....
Hire
Hire [locatio, conductio, Lat.], a bailment for a reward or compensation. It is divisible into four sorts:-(1) The hiring of a thing for use (locatio rei). (2) The hiring of work and labour (locatio operis faciendi). (3) The hiring of care and services to be performed or bestowed on the thing delivered (locatio custodi'). (4) The hiring of the carriage of goods (locatio operis mercium vehendarum) from one place to another. The three last are but sub-divisions of the general head of hire of labour and services.The rights, duties, and obligations of the parties resulting from the contract of bailment for hire may be thus stated:-(I.) Hire of things. The letting to hire implies an obligation to deliver the thing to the hirer; to refrain from every obstruction to the use of it by the hirer during the period of the bailment; to do no act that shall deprive the hirer of the thing; to warrant the title and right of possession to the hirer, in order to enable him to use the thing, or to perfor...
Loan
Loan [hl'n, Sax.], anything lent or given to another on condition of return or repayment. As to loan of money, see MONEY LENDERS ACT.The distinction between a loan and a deposit is that in the case of a loan it is ordinarily the duty of the debtor to seek out the creditor and to pay the money according to the agreement. In the case of a deposit it is the duty of the depositor to go to the depositee and to make a demand for it, Gurcharan Das v. Ram Rakha Mal, AIR 1937 Lah 81.The word 'loan' used in s. 4 has the same meaning as it has in s. 2(f) and includes a transaction on a bond bearing interest executed in respect of past liability, Jiwanlal Achariya v. Rameshwarlal Agarwalla, AIR 1967 SC 1118: (1967) 1 SCR 190. [Bihar Money Lenders (Regulation of Transactions) Act, 1939 (7 of 1939), ss. 2(f) and 4]...
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