Expense - Law Dictionary Search Results
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lease [Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner ;also : the act of such conveyance or the term for which it is made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of goods for a term in return for consideration.” build·ing lease : ground lease in this entry consumer lease : a lease made by a lessor regularly engaged in the selling or leasing of a product to a lessee who is leasing the product primarily for his or her personal or household use finance lease : a lease in which the lessor acquires g...
necessaries
necessaries 1 : goods, services, or expenses that are considered necessary: as a : such goods, services, or expenses as are essential to the maintenance and support of a present or former spouse or of the child of divorced parents and for which one spouse or parent may seek reimbursement or contribution from the other b : essential goods or services furnished to a vessel whose supplier may be entitled to a maritime lien 2 : goods or services delivered to a minor that are considered by reference to his or her circumstances to warrant holding the minor to a contract for them despite an attempt to disaffirm it ...
Pawn or Pledge
Pawn or Pledge [fr. pignus, Lat.], a bailment of goods by a debtor to his creditor, to be kept till the debt is discharged.A mortgage of goods is in the Common Law distinguishable from a mere pledge or pawn. By a mortgage the whole legal title passes conditionally to the mortgagee; and if the goods be not redeemed at the stipulated time, the title becomes absolute at law although equity allows a redemption. But in a pledge, a special property only passes to the pledgee, the general property remaining in the pledgor. Also, in the case of a pledge, the right of a pledgee is not consummated, except by possession; and, ordinarily, when that possession is relinquished, the right of the pledgee is extinguished or waived. But, in the case of a mortgage of personal property the right of property passes by the conveyance to the mortgagee, and the possession is not or may not be essential to create or support the title.As to things which may be the subject of pawn: These are, ordinarily, goods a...
Deduction
Deduction, for expenses incurred on account of special packing, turnover tax, octroi and bought-out items was admissible for the period. September 1988 to March 1991, subject to the assessee submitting proof of incurring actual expenses in respect of the above items before the Commissioner (Appeals), CCE v. Akay Cosmetics (P) Ltd., (2005) 3 SCC 764....
Other
Other, in a charter-party, it was provided that the owners were liable to pay for 'port charges, pilotages, and other expenses at those ports'. The expression 'other expenses' must be construed ejusdem generis; so that the owners did not have to pay for coals which the charters by a previous clause have undertaken to provide and pay for, The Durham City, 58 LT 46.Other, must mean 'some other person' than the trustee deceased or going abroad or retiring or refusing or becoming incapable to act and also other than a trustee making appointment, that is to say, other than the appointer himself because the general practice of the conveyances, the understanding of lawyers and the purposes of deeds like this are against the notion of executor or administrator of the last acting trustee of appointing himself, Skeats v. Evans, (1889) 42 Ch D 522....
Net income
Net income, in matrimonial jurisprudence the expression would normally mean total income derived less the cost of collection and other compulsory payments such as Income-tax etc. It does not mean net income after giving deduction for all the expenses incurred by the husband. Expenses which are to be deducted must have some relation or connection with the source of income, D. Thankaraj v. M.C. Pushpa Rose, AIR 1986 Ker 23....
Measure of damage
Measure of damage, the test which determines the amount of damages to the given. The general rule in English law is that in contract the measure of damage is the actual loss to the plaintiff, and in tort the compensation to the plaintiff for the loss or damage which it may be supposed be has suffered directly as a natural consequence of the act complained of. The exception is those ases where vindictive or exemplary damages can be given, e.g., libel, slander, violence, malice, cruelty, or breach of promise of marriage. The actual loss cannot always be recovered, as the whole or a portion of the loss may be too remote to be the natural and probable consequence of that which constitutes the cause of action, and this will most frequently occur in actions of tort. Though unable to prove actual loss, a plaintiff may sometimes be entitled to nominal damages, e.g., breach of an agreement to lend money. In actions of contract, the market-price of the subject-matter at the date the contract is ...
Luxury
Luxury, as an entirely relative term; a free indulgence in costly food, dress, furniture or anything expensive which gratifies the appetites or tastees; also a mode of life characterized by material abundance and gratification of expensive tastes, (Corpus Juris Secundum, Vol. IV, p. 887).Luxury, could among other meanings be defined as (1) abundance, sumptuous enjoyment; (2) the habitual use of, or indulgence in, what is choice or costly; (3) refined and intense enjoyment; means of luxurious enjoyment; (4) in a particularized sense; something which conduces to enjoyment or comfort in addition to what are accounted the necessaries. Hence, in recent use, something which is desirable but not indispensable; and (5) as an attribute as luxury coach, cruise duty, edition, flat, liner, shop, tax, trade, Oxford English Dictionary, 2nd Edn., Vol. IX.Means something which conduces enjoyment over and above the necessaries of life. It denotes something which is superfluous and not indispensable and...
Law Reform (UK)
Law Reform (UK). By the Law Reform (Miscellaneous Provisions) Act, 1934 (24 & 25 Geo. 5, c. 41), all causes of action shall with certain exceptions survive on the death (after the 24th July, 1934) of any person against or for the benefit of his estate. See actio personalis, and by s. 1(2) it is enacted:Where a cause of action survives as aforesaid for the benefit of the estate of a deceased person the damages recoverable for the benefit of the estate of that person:-(a) shall not include any exemplary damages;(b) in the case of a breach of promise to marry shall be limited to such damage, if any, to the estate of that person as flows from the breach of promise to marry;(c) where the death of that person has been caused by the act of omission which gives rise to the cause of action, shall be calculated without reference to any loss or gain to his estate consequent on his death, except that a sum in respect of funeral expenses may be included.See Rose v. Ford, (1937) 53 TLR 873.The right...
Income or net income
Income or net income, Income is money or other benefit periodically received. It is profit or revenue and not capital. It is gain derived from capital or labour or both. Net income is income obtained after deducting all expenses incurred for the purpose of earning the income. It is income minus operating expenses, D.C.M. v. S. Paramjit Singh, AIR 1990 SC 2286 (2288). [J&K Houses and Shops Rent Control Act, 1966, s. 1(3)(iii)]...
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