Express Agency - Law Dictionary Search Results
Home Dictionary Name: express agency Page: 3Contract note
Contract note, a short statement of the effect of a contract. The expression is defined ins. 77(3) of the Finance (1909-10) Act, 1910, as follows:--For the purposes of this Part of this Act, the expression contract note' means the note sent by a broker or agent to his principal, or by any person who by way of business deals, or holds himself out as dealing, as a principal in any stock or market-able securities, advising the principal or the vendor or purchaser, as the case may be, of the sale or purchase of any stock or marketable security, but does not include a note sent by a broker or agent to his principal where the principal is himself acting as broker or agent for a principal, and is himself either a member of a stock exchange in the United Kingdom or a person who bona fide carries on the business of a stockbroker in the United Kingdom, and is registered as such in the list of stockbrokers kept by the Commissioners.The same s. imposes stamp duties on contract notes varying with t...
Power
Power, in respect of court the word 'power' means an authority expressly or impliedly conferred on the court by law to do that which without that sanction it could not have done, consent cannot give jurisdiction, K.E. v. Vithu, (1899) 1 Bom LR 157.Power, is an authority reserved by, or limited to, a person to dispone, either wholly or partially, of movable or immovable property, either for his own benefit or for that of others. The word is used as a technical term and is distinct from the dominion which a man has over his own estate by virtue of ownership, Stroud's Judicial Dictionary.Power, is not synonymous with jurisdiction, K.E. v. Vithu, (1899) 1 Bom LR 157.Power, may be general or implied. The general powers are such as the donee can exercise in favour of such person or persons as he pleases, including himself, Mahadeo Ramchandra v. Damodar Vishwanath, AIR 1957 Bom 218.Means any form of energy which is not generated by human or animal agency. [The Gujarat Lifts and Escalators Act...
Ratification
Ratification, confirmation. 'A contract of agency may also be created by ratification. Where A. purports to act as agent for B., either having no authority at all or having no authority to do that particular act, the subsequent adoption by B. of A.'s act has the same legal consequences as if B. had originallyauthorised the act. But there can be no ratification unless A purported to act as agent, and to act for B.; and in such a case B alone can ratify. Nor can there be any binding ratification of any agreement which was originally void' (Odgers on the Common Law), or where the principal was not in existence at the time of the act, either in fact or in the contemplation of law as in the case of persons such as trustees in bankruptcy or personal repre-sentatives who acquire title by relation, Kelner v. Baxter, LR 2 CP 174; and see also NOTICE TO QUIT. Omnis ratihabitio retrotrahitur et mandato 'quiparatur (Co. Litt. 207 a). As to the ratification of contracts by infants, see the Infants ...
loan
loan 1 a : money lent at interest b : something lent usually for the borrower's temporary use 2 : a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usually with interest ;broadly : the furnishing of something to another party for temporary use with the agreement that it or its equivalent will be returned [the leasing of the vehicle was termed a subject to usury statutes] bridge loan : a short-term loan used as a means of financing a purchase or enterprise prior to obtaining other funds [used a bridge loan to purchase a new home prior to the sale of their previous one] con·ven·tion·al loan [kən-ven-chə-nəl-] : a loan for the purchase of real property that is secured by a first mortgage on the property rather than by any federal agency demand loan : a loan that is subject to repayment upon demand of the lender home equity loan : a loan or line o...
Act of God
Act of God, a direct, violent, sudden, and irresistible act of nature, which could not, by any reasonable care, have been foreseen or resisted, see Nugent v. Smith, (1876) 1 CPD 423. The general rule is that where the law creates a duty and the party is disabled from performing it, without any default of his own, by the act of God or the King's enemies, the law will excuse him; but when a party by his own contract creates a duty he is bound to make it good, notwithstanding any accident by inevitable necessity, Nichols v. Marsland, (1876) 2 Ex D 4. See also Common Carrier, tit. CARRIER.Accidental fire is not an act of God which can be traced to natural causes, Patel Roadways Ltd. v. Birla Yamaha Ltd., (2000) 4 SCC 91.Means an overwhelming, unpreventable event caused exclusively by forces of nature, such as an earthquake, flood, or tornado. The definition has been statutorily broadened to include all natural phenomena that are exceptional, inevitable, and irresistible, the effects of whi...
Domestics
Domestics, menial servants (so called from being intra m'nia domus, within the walls of a house). The contract between them and their masters arises upon the hiring. In this country it is usual to engage domestic servants at a fixed amount of wages per annum. But there is generally no express stipulation as to the time that the service is to last; and when the terms are not otherwise defined the contract is thus understood that either party may determine the service at pleasure, upon a month's warning or upon payment of a month's wages. As to the persons entitled under a bequest to 'domestic servants,' see Re Lawson, (1914) 1 Ch 682; Re Jackson, 39 TLR 400. See MASTER AND SERVANT.For the purposes of Unemployment Insurance, employment in domestic service, except where the employed in any trade or business carried on for the purpose of gain, is an excepted employment under the (English) Unemployment Insurance Acts, 1935 and 1936 (25 & 26 Geo. 5, c. 8) and (26 Geo. 5 & 1 Edw. 8, c. 13). H...
Quasi judicial
Quasi judicial, the expression 'quasi judicial' is not always used with clarity and accurately. Custo-dian, though not a court in the ordinary sense, is an authority which exercises judicial functions or functions analogous to the judicial, and thus he is described as a 'quasi judicial' authority, Parduman Singh v. State of Punjab, AIR 1958 Punj 63.It is a term that is ............ not easily definable. In the United States, the phrase often covers judicial decisions taken by an administrative agency -- the test is the nature of the tribunal rather than what it is doing. In England quasi-judicial belongs to the administrative category and is used to cover situations where the administrator is bound by the law to observe certain forms and possibly hold a public hearing but where he is a free agent in reaching the final decision. If the rules are broken, the determination may be set aside, but it is not sufficient to show that the administration is biasedin favour of a certain policy, or...
Rate applicable to the total income of the company
Rate applicable to the total income of the company, the expression 'rate applicable to the total income of the company' meant the rate actually applied. The clause referred to the specific or definite rate which was determined to be applicable to the taxable income of the company for that specific year and not to the rate prescribed by the Act for the relevant year generally in reference to incomes of companies, Rajputana Agencies Ltd. v. Commissioner of Income Tax, AIR 1959 SC 265: (1959) Supp 1 SCR 142....
Registered dealer
Registered dealer, means a dealer registered under the provisions of this Act, who holds a certificate of registration deemed to have been granted under this Act. [Gujarat Value Added Tax Act, 2003, s. 2(20)]Means a dealer registered under this Act. [Maharashtra Value Added Tax Act, 2002, s. 2(21)]Means a dealer who is registered under s. 7. [Central Sales Tax Act, 1956, s. 2(f)]The words Registered dealer means a dealer validity registered under the Act, Nowranglal Agarwala v. State of Orissa, AIR 1965 Ori 44 (46). [Orissa Sales Tax Act, s. 2(6)]The expression 'registered dealer' is used in s. 8(ii) in its definitional sense to mean a dealer registered under s. 22 of the Bombay Act and it does not include a dealer registered under the Central Sales Tax Act, Commissioner of Sales Tax v. Union Medical Agency, AIR 1981 SC 1 (3): (1981) 1 SCC 51: (1981) 1 SCR 870. [Bomaby Sales Tax Act, 1959, s. 8(ii)]...
Through
Through, connotes 'medium', 'agency' or 'instrument'. But the use of the word by itself cannot clearly create a relationship of a principal and an agent. The word is also used to express 'direction' or to indicate an emphasis intervening or intermediate stage, Rajnath v. Public Service Commission, 1955 MB 56....
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