Discharged From Liability - Law Dictionary Search Results
Discharged from liability
Matched in: Term Discharged from liability
Discharge from liability
Matched in: Term Discharge from liability
dischargeable debt
dischargeable debt A debt for which the Bankruptcy Code allows the debtor's personal liability to be eliminated. Source: Administrative
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Discharge
Discharge, to relieve of a duty. A sheriff is said to be discharged of his prisoner; a prisoner discharged from custody; a jury discharged from the cause. See next title. A rule nisi is discharged when the Court … of Maharashtra, (1979) 2 SCC 179: AIR 1979 SC 94: (1979) 1 SCR 993. Discharge means, to free from liability. The liability may be in respect of monetary claims, like the debts; it may be in respect of
discharge
contract or a negotiable instrument) ;also : to render (an instrument) no longer enforceable [a formal instrument…may be discharged by either cancellation or surrender "J. D. Calamari and J. M. Perillo"] b : to release (a debtor … cancellation or surrender "J. D. Calamari and J. M. Perillo"] b : to release (a debtor in bankruptcy) from liability for his or her debts 2 : to release from confinement, custody, or care [ a prisoner] 3
exoneration
exoneration 1 : the act of disburdening or discharging (as from a charge, liability, obligation, duty, or responsibility) ;also : the state of being so freed 2
Borne by the owner
Borne by the owner, the amount of tax which the owner is liable to discharge as stated in the proviso to s. 23(1) of the Act, i.e., the liability to pay tax imposed
Breach of trust
Court, if a trustee has acted honestly and reasonably and ought fairly to be excused, to discharge him from liability. Further, the Trustee Act, 1888, s. 8, allows a trustee to plead the Statute of Limitations except incases … to his powers of investment of or dealing with the trust property, or having otherwise erred in the discharge of his strict duty; in other cases he may have been guilty of negligence or carelessness involving at
Winding-up
(s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if … applied to the winding-up of joint-stock companies. The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its
Expenditure
It covers a liability which has accrued or which has been incurred although it may have to be discharged at a future date. However, a contingent liability which may have to be discharged in future cannot be
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