Derivative Suit - Law Dictionary Search Results
Home Dictionary Name: derivative suitderivative suit
derivative suit : derivative action ...
shareholder's derivative suit
shareholder's derivative suit : derivative action ...
derivative 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. ...
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 ...
Suit
Suit, a following. It is used in divers senses:-(1) An action in the Supreme Court, or a proceeding by petition in the Divorce branch of that Court; a prosecution; a petition to a Court, etc. See Jud. Act, 1873, s. 100. By Jud. Act, 1925, s. 225, suit includes action.(2) Suit of Court, an attendance which a tenant owes to his lord's Court.(3) Suit Covenant, where one has covenanted to do suit and service in his lord's Court.(4) Suit Custom, where service is owed time out of mind.(5) Suithold, a tenure in consideration of certain services to the superior lord.(6) The following one in chase, as fresh suit, Cowel.The word 'suit' does not include an appeal or an application. [Limitation Act, 1963, s. 2 (l)]The word 'suit' will include appellate proceedings, Nachiappa Chettiar v. Subramaniam Chettiar, AIR 1960 SC 307: (1960) 2 SCR 209.The word 'suit' includes an appeal from the judgment in the suit. The only difference between a suit and an appeal is that an appeal only reviews and corrects...
nominal
nominal 1 : existing or being something in name or form but usually not in reality [defenses…raised by the corporation as defendant in a derivative suit "R. C. Clark"] 2 : being so small or trivial as to be a mere token [charging a fee] 3 of a rate of interest a : equal to the annual rate of simple interest that would obtain if interest were not compounded when in fact it is compounded and paid for periods of less than a year b : equal to the percentage by which a repaid loan exceeds the principal borrowed with no adjustment made for inflation compare effective nom·i·nal·ly adv ...
Right of suit and right of appeal
Right of suit and right of appeal, there is an inherent right in every person to bring a suit of a civil nature and unless the suit is barred by statute one may, at one's peril, bring a suit of one's choice. It is no answer to a suit, howsoever frivolous to claim, that the law confers no such right to sue. A suit for its maintainability requires no authority of law and it is enough that no statute bars the suit. But the position in regard to appeals is quite the opposite. The right of appeal inheres in no one and therefore an appeal for its maintainability must have the clear authority of law. That explains why the right of appeal is described as a creature of statute, Ganga Bai v. Vijay Kumar, AIR 1974 SC 1126: (1974) 2 SCC 393: (1974) 3 SCR 882....
Suit for land
Suit for land, a 'suit for land' is a suit in which the relief claimed relates to title to or delivery of possession of land or immovable property. Whether a suit as a 'suit for land' or not has to be determined on the averments in the plaint with reference to the reliefs claimed therein; where the relief relates to adjudication of title to land or immovable property or delivery of possession of the land or immovable property, it will be a 'suit for land', Adcon Electronics Pvt. Ltd. v. Daulat, AIR 2001 SC 3712 (3715). [Letters Patent of Bombay High Court, C.P. 12]...
Suit for redemption
Suit for redemption, a suit for redemption is thus defined by this section as a suit for enforcement of right to redeem, and that right of redeem consists of the three reliefs which the mortgagor is entitled to under clauses (a), (b) and (c) mentioned above, on payment or tender, at a proper date and place, of the mortgage money. Consequently, a suit can be said to be a suit for redemption if the three rights enumerated in this section as constituting the right to redeem are claimed in the suit, K. Manick Chand v. Elias Saleh Mohd Sait, AIR 1969 SC 751 (758): (1969) 1 SCC 206. (Transfer of Property Act, 1882, s. 60)...
Suit of partition
Suit of partition, means a judgment delivered by a court in a partition suit which is followed by a preliminary decree cannot be said to be a final judgment in the suit. Proceedings which parties may take pursuant to the preliminary decree are still a part of the suit, and it is only with the passing of the final decree that the suit comes to an end, Ct. ACt Nachiappa Chettiar v. Ct. ACt Subramanian, AIR 1960 SC 307: (1960) 2 SCR 209: (1960) SCJ 416: (1960) 1 SCA 655: (1960) 1 Mad LJ (SC) 101: (1960) 1 Andh WR (SC) 101....
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