Derivative Action - Law Dictionary Search Results
Home Dictionary Name: derivative actionderivative action
derivative action : a suit brought by a shareholder on behalf of a corporation or by a member on behalf of an association to assert a cause of action usually against an officer which the corporation or association has itself failed to assert for its injuries called also derivative suit shareholder's derivative suit compare direct action NOTE: A shareholder or member bringing a derivative action must describe in the complaint attempts to obtain action from the corporate directors or association authorities, or from other shareholders or members, and the reasons these attempts failed. The plaintiff must fairly and adequately represent the other similarly situated shareholders or members, and the action may not be collusive. Federal Rule of Civil Procedure 23.1 governs derivative actions brought in federal court. ...
direct action
direct action 1 : an action in which the plaintiff sues a person's insurer without first obtaining a judgment against the insured or joining the insured 2 : a suit by a shareholder for an injury to himself or herself independent from any injury to the corporation called also individual action compare derivative action ...
derivative suit
derivative suit : derivative action ...
shareholder's derivative suit
shareholder's derivative suit : derivative action ...
Mesne profits, action of
Mesne profits, action of, an action of trespass brought to recover profits derived from land, whilst the possession of it has been improperly withheld: that is, the yearly value of the premises. 'Mesne profits are the rents and profits which a trespasser has, or might have, received or made during his occupation of the premises, and which therefore he must pay over to the true owner as compensation for the tort which he has committed. A claim for rent is therefore liquidated, while a claim for mesne profits is always unliquidated' (Odgerson Pleading).The action should be brought in the name of the plaintiff, who has recovered judgment in the ejectment, and lies against any person found in possession of the premises after a recovery in ejectment.The jury are not bound by the amount of the rent, but may give extra damages. But ground-rent paid by the defendant should be deducted from the damages. A plaintiff may recover in this action the costs o the action of ejectment.As to the date fr...
Derivative settlement
Derivative settlement, in Poor Law that settlement (see SETTLEMENT) which a poor person may acquire from his parent's settlement. The (English) Poor Law Act, 1930 (20 Geo. 5, c. 17), s. 85, enacts:-(1) Until a person acquires a settlement of his own or derives a settlement from a husband, that person-(a) if a legitimate child, shall take and follow, up to the age of sixteen, the settlement of his father, or if and so long as his father has no settlement, the settlement which his mother had immediately before her marriage to his father, but if after the death of the father the mother acquires a settlement (not being a derivative settlement) shall take and follow, up to the age of sixteen, that settlement;(b) if an illegitimate child, shall take and follow, up to the age of sixteen, the settlement of his mother;and shall in either case retain that settlement which under the forgoing provisions of the section he had at the age of sixteen.(2) Deals with the settlement of a married woman.(3...
Essentially derived variety
Essentially derived variety, 'essentially derived variety', in respect of a variety (the initial variety) shall be said to be 'essentially derived' from such initial variety when it (i) is predominantly derived from such initial variety, or from a variety that itself is predominantly derived from such initial variety, while retaining the expression of the essential characteristics that result from the genotype or combination or geno types of such initial variety; (ii) is clearly distinguishable from such initial variety, and (iii) conforms (except for the differences which result from the act of derivation) to such initial variety in the expression of the essential characteristics that result from the genotype or combination of genotypes of such initial variety. [Protection of Plants varieties and Farmer's Rights Act, 2001 (53 of 2001), s. 2(i)]...
derivative
derivative : a contract or security that derives its value from that of an underlying asset (as another security) or from the value of a rate (as of interest or currency exchange) or index of asset value (as a stock index) NOTE: Derivatives often take the form of customized contracts transacted outside of security exchanges, while other contracts, such as standard index options and futures, are openly traded on such exchanges. Derivatives often involve a forward contract. adj 1 : arising out of or dependent on the existence of something else compare direct 2 : of, relating to, or being a derivative [a transaction] de·riv·a·tive·ly adv ...
shareholder
shareholder : one that owns a share in a fund (as a mutual fund) or property ;esp : stockholder see also derivative action, equity, proxy contest share·hold·ing adj or n ...
strike suit
strike suit : a derivative action based on no bona fide claim and brought with the intent to force defendants to settle out of court ...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial