Exchequer Bills - Law Dictionary Search Results
Home Dictionary Name: exchequer billsExchequer bills
Exchequer bills, bills of credit issued by the Government under authority of Parliament, and forming part of the 'Unfunded Debt' of the country. They are for various sums, and bear interest according to the usual rate at the time. the advances of the Bank to Government are made upon Exchequer bills; and the daily transactions between the Bank and Government are principally carried on through their intervention. See (English) Exchequer Bills and Bonds Act, 1866 (29 Vict. c. 25), consolidating and amending the Acts dating from 48 Geo. 3, c. 1, which regulated the preparation, issue, and payment of exchequer bills and bonds. See also 52 Vict. c. 6; 5 & 6 Geo. 5, c. 55, and subsequent Acts. Their place has now largely been taken by Treasury bills. See that title....
Treasury Bill
Treasury Bill, means a short-term debt security issued by the federal government, with a maturity of 13, 26 or 52 weeks, Black's Law Dictionary, 7th Edn., p. 1507.Treasury Bills are bills issued by the Treasury payable not later than twelve months after date. (English) Treasury Bills Act, 1877. See FUNDS; EXCHEQUER BILLS....
Exchequer Chamber, Court of
Exchequer Chamber, Court of, a tribunal of error and appeal.First, it existed in former times as a Court of mere debate, such causes from the other Courts being sometimes adjourned into it as the judges upon argument found to be of great weight and difficulty, before any judgment was given upon them in the Court below. It then consisted of all the judges of the three Superior Courts of Common Law, and at times the Lord Chancellor also.Second, it existed as a Court of Error, where the judgments of each of the Superior Courts of Common Law, in all actions whatever, were subject to revision by the judges of the other two, sitting collectively. See 27 Eliz. c. 8 (error from Queen's Bench), and 11 Geo. 4 & 1 Wm. 4, c. 70, s. 8 (error from the three Courts). The composition of this Court consequently admitted of three different combinations, consisting of any two of the Courts below which were not parties to the judgment appealed against. There was no given number required to constitute the ...
exchequer
exchequer [Anglo-French eschecker eschequ(i)er, from Old French eschequier royal treasury, reckoning board or cloth marked with squares, literally, chessboard, from eschec chess] 1 cap : a royal office in medieval England at first responsible for the collection and management of the royal revenue and later for the adjudication of revenue cases 2 cap : a former superior court having law and equity jurisdiction in England and Wales over primarily revenue cases and now merged with the Queen's Bench Division of the High Court of Justice called also Court of the Exchequer NOTE: The Exchequer was created in England by the Norman kings. In addition to being divided into a court of common law and a court of equity, at one point the Exchequer also had jurisdiction over all actions, except those involving real property, between two subjects of the Crown. In 1841, the Exchequer's equity jurisdiction, except over revenue cases, was transferred to the Court of Chancery, and in 1881 the Exchequ...
Barons of the Exchequer
Barons of the Exchequer, the judges of the old Court of 'The Exchequer of Pleas' at Westminster. See EXCHEQUER, COURT OF....
Chief Baron of the Exchequer
Chief Baron of the Exchequer, the presiding judge in the court of Exchequer, and afterwards in the Exchequer Division of the High Court of Justice. In 1881, after the death of Lord Chief Baron Kelly, the office was abolished by Order in Council under s. 31 of the Jud. Act, 1873, and merged in that of Lord Chief Justice of England....
Exchequer, Court of
Exchequer, Court of [fr. eschequier, Nor. Fr.; scaccarium, Low Lat.; a treasure], consisted of two divisions, a Court of Revenue, and a Court of Common Law, having also an equitable jurisdiction, which, except when it sat as a Court of Revenue was transferred to the Court of Chancery by 5 Vict. c. 5. See A.-G. v. Halling, (1846) 15 M&W 687. As a Court of Revenue it ascertained, and enforced by proceedings appropriate to the case, the proprietary rights of the Crown against the subjects of the realm. To proceed against a person in this department of the Court was called to exchequer him. As a Court of Common Law (after having obtained jurisdiction by the fiction of quominus (see QUOMINUS)), it administered redress between subject and subject in all actions whatever, except real action. It was a Court of Record, and its judges were six (formerly five) in number, consisting of one chief and five (formerly four) puisne barons. This Court was made a Division of the High Court of Justice (Ju...
bill
bill 1 : a draft of a law presented to a legislature for enactment ;also : the law itself [the GI ] ap·pro·pri·a·tions bill [ə-prō-prē-ā-shənz-] : a bill providing money for government expenses and programs NOTE: Appropriations bills originate in the House of Representatives. bill of attainder 1 : a legislative act formerly permitted that attainted a person and imposed a sentence of death without benefit of a judicial trial see also attainder compare bill of pains and penalties in this entry 2 : a legislative act that imposes any punishment on a named or implied individual or group without a trial NOTE: Bills of attainder are prohibited by Article I of the U.S. Constitution. bill of pains and penalties : a legislative act formerly permitted that imposed a punishment less severe than death without benefit of a judicial trial compare bill of attainder in this entry NOTE: The term bill of attainder is often used to include bills of p...
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 ...
Bill of sale
Bill of sale, an assignment by deed of chattels personal, whether absolute or by way of security. See Twyne's case, (1602) 3 Rep. 80 [44 Eliz.], and 1 Sm. L. C. 1 et seq., where the principal cases are collected.The registration of bills of sale was first required in 1854 by 17 & 18 Vict. c. 31, which enacted that every bill of sale should be void as against assignees in bankruptcy and execution creditors, unless the bill or a copy thereof should have been filed in the Court of Queen's Bench within 21 days after its execution, together with an affidavit of the time of the bill of sale being given, and a description of the residence and occupation of the deponent and of every attesting witness of the bill of sale. In 1866, by 29 & 30 Vict. c. 96, registration had to be renewed every five years. The two Acts were consolidated with some important amendments by the (English) Bills of Sale Act, 1878 (41 & 42 Vict. c. 31). The principal amendments were these:-The period within which to regis...
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