Dry Exchange - Law Dictionary Search Results
Home Dictionary Name: dry exchangeDry exchange
Dry exchange [cambium siccum, Lat.], a term invented in former times for the disguising and covering of usury, in which something was intended to pass on both sides, whereas nothing passed but on one side, in which respect it was called dry; punished by 3 Hen. 7, c. 5...
Exchange, Deed of
Exchange, Deed of [fr. excambium, Lat.], an original Common Law conveyance, for the reciprocal transfer of interests ejusdem generis, as fee simple for fee simple, legal estate for legal estate, copyhold for copyhold of the same manor, and the like the one in consideration of the other. It takes place between two distinct contracting parties only, although several persons may compose each party. The operative and indispensable verb was 'exchange,' which no longer implies a general warranty or right of re-entry [(English) L.P. Act, 1925, s. 59, replacing Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 4]. An actual entry upon the pro-perty exchanged by the parties themselves to the deed was essential. The exchange was void if either party died before entry, for, under such cir-cumstances, the parties had no freehold in them, for the heir could not enter and take as a purchaser, because he took under the deed, only by way of limitation in course of descent, but by the L.P. Act, 1925, s....
Bill of Exchange
Bill of Exchange. Defined in the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 3, as an 'unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.'It is a chose in action, but, for the encouragement of commerce, it is assignable, at Common Law, by mere endorsement, so that very many names are frequently attached to one bill as endorsers, and each of them is liable to be sued upon the bill, if it be not paid in due time. the person who makes or draws the bill is called the drawer, he to whom it is addressed is, before acceptance, the drawee, and after accepting it, the acceptor; the person in whose favour it is drawn is the payee; if he endorse the bill to another, he is called the endorser, and the person to whom it is thus assigned or negotiated ...
Exchange
Exchange, a contract of sale denotes a transfer of property in goods by mutual consent. Such a transfer of ownership must be in relation to transfer from one person to another. The consideration would be a price in the form of money. Only when the consideration for transfer consists of other goods it may be an exchange or barter, Dhampur Sugar Mills Ltd. v. Commissioner of Trade Tax, (2006) 5 SCC 624: (2006) 11 JT 111: (2006) 5 SCALE 595: (2006) 5 Supreme 73: (2006) 4 SLT 189: (2006) 7 SCJ 60: (2006) 6 SCJD 106: (2006) 147 STC 57.Exchange, often contracted into change, a building or other place in considerable trading cities, where merchants, agents, bankers, brokers, and other persons concerned in commerce, meet at certain times to confer and treat together of matters relating to exchanges, remittances, payments, adventures, assurances, freights, and other mercantile negotiations, both by sea and land.Also used to designate that species of mercantile transactions by which the debts of...
reciprocal exchange
reciprocal exchange : an unincorporated association in which members (as individuals, partnerships, trustees, or corporations) exchange contracts and pay premiums through an attorney-in-fact for the insurance of each other [liability of each member of the reciprocal exchange was limited to ten times the annual premium] called also interinsurance exchange reciprocal insurance exchange reciprocal interinsurance exchange ...
Labour Exchange
Labour Exchange, referred to by the (English) Unemployment Insurance Act, 1935 (25 Geo. 5, c. 8), s. 113, 1 (K), as 'EMPLOYMENT EXCHANGE.' The (English) Labour Exchanges Act, 1909 (9 Edw. 7, c. 7), gives the (English) Board of Trade (now Ministry of Labour) power to establish and maintain labour exchanges, and s. 5 defines 'labour exchange' as meaning 'any office or place used for the purpose of collecting and furnishing information, either by the keeping of registers or otherwise, respecting employers who desire to engage workpeople and workpeople who seek engagement or employment.' (The Labour Exchanges Act, 1909...
Local Employment Exchange
Local Employment Exchange, means--(a) in the whole of India except the Union territory of Chandigarh that Employment Exchange (other than the Central Employment Exchange) notified in the Official Gazette by the State Government or the Administration of the Union territory as having jurisdiction over the area in which the establishments concerned is situated or over specified classes or categories of establishments or vacancies; and(b) in the Union territory of Chandigarh that Employment Exchange established either by the Union territory Administration of Chandigarh or by the State Government of Punjab or Haryana notified in the States respective Official Gazette as having jurisdiction over specified clauses or categories of establishments, or vacancies, provided that the employment exchanges established by the State Government of Punjab or Haryana shall not have jurisdiction over--(i) the public sector offices/establishments other than those belonging to the respective States; and(ii) ...
Stock Exchange
Stock Exchange, a society of stockbrokers and dealers (or stockjobbers) for the conduct of the sale or purchase, on behalf of non-members, of Government securities and stocks or shares in public companies. See COMPANY. The members of the 'House' (as it is called) must be re-elected annually and pay a substantial annual subscrip-tion. In the transaction of business they are governed by certain usages, and by rules framed by the Committee of the Stock Exchange which bind their outside employers, if reasonable, but not otherwise, See Beilson v. James, (1882) 9 QBD 546 (CA), in which a custom to disregard Leeman's Act (see LEEMAN'S ACTS) was held unreasonable; Chitty on Contracts; and the works of Melsheimer and Laurence, Brodhurst, and Stutfield. Also, the place where they meet to transact business. See BROKER.Perhaps the most important of the London Stock Exchange Rules are Rules 66 and 75, by which:-66. The Stock Exchange does not recognize in its dealings any other parties than its own...
Dry charter
Dry charter, the charter operates as a demise of the aircraft itself to the charterer, to which there may or may not be added the services of a crew. Such a contract is often referred to as a 'bare-hull charter', a 'dry charter' or a 'dry lease', Halsbury's Laws of England 1(2), para 1334, p. 658....
Acceptance of bill of exchange
Acceptance of bill of exchange, 'Acceptance' in regard to a bill of exchange does not'mean 'taking' or 'receiving'. Acceptance of a bill of exchange is the signification by the drawee of his assent to the order of the drawer. It is the act by which the drawee evinces his consent to comply with, and be bound by, the request contained in a bill of exchange directed to him, and is the drawee's agreement to pay the bill when it falls due. In commercial parlance acceptance of a bill of exchange is the drawee's signed engagement to honour the draft as presented, American Express Bork Ltd. v. Calcutta Steel Co., (1993) 2 SCC 199 (207). [Negotiable Instruments Act, 1881, ss. 7, 32, 33]...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial