Face Amount - Law Dictionary Search Results
Home Dictionary Name: face amount Page: 2Holder in due course
Holder in due course is 'a holder who has taken a bill of exchange [cheque or note], complete and regular on the face of it,' under the following conditions, namely:-(a) That he became the holder of it before it was overdue, and without notice that it had been previously dishonoured, if such was the fact.(b) That he took the bill [cheque or note] in good faith and for value, and that at the time it was negotiated to him he had no notice of any defect in the title of the person who negotiated it, Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 29.A person who in good faith has given value for a negotiable instrument that is complete and regular on its face, is not overdue, and, to the possessor's knowledge has not been dishonoured, Black's Law Dictionary, 7th Edn.In R. E. Jones Ltd. v. Warning and Gillow Ltd., 1926 AC 670, it was held that the original payee of a cheque is not a holder in due course within the meaning of the Bill of Exchange Act, 1882.Means any person who for cons...
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...
discount
discount : a reduction made from the gross amount or value of something: as a : a reduction made from a regular or list price or a proportionate deduction from a debt account usually made for prompt payment or for payment in cash b : a reduction made for interest in advancing money upon or purchasing a note not yet due c : a reduction in the price of a bond see also discount bond at bond d : the sale of securities that are issued below and redeemed at face value compare premium [dis-kant, dis-kant] vt 1 a : to make a deduction from usually for cash or prompt payment b : to sell or offer at a lowered price 2 : to lend money on after deducting a discount [banks negotiable instruments] 3 : to take into account (a future event or prospect) in making present calculations vi : to give or make discounts [dis-kant] adj 1 a : selling goods or services at a discount [a broker] b : offered or sold at a discount [ securities] 2 : reflecting a discount [the price] ...
Silver certificate
A certificate issued by a government that there has been deposited with it silver to a specified amount payable to the bearer on demand In the United States and its possessions it is issued against the deposit of silver coin and is not legal tender but is receivable for customs taxes and all public dues In the United States the redeemability in silver of silver certificates was discontinued in the 1970s they are still 1997 accepted as money at the face dollar value but cannot be redeemed in silver...
Arbitration
Arbitration, the determination of a matter in dispute by the judgment of one or more persons, called arbitrators, who in case of difference usually call in an 'umpire' to decide between them.Means a method of dispute resolution involving one or more neutral third parties who are usually agreed to by the disputing parties and whose decision is binding, Black Law Dictionary 7th Edn., p. 100.Means any arbitration whether or not administered by permanent arbitral institution. [The Arbitration and Conciliation Act, 1996, s. 2(a)]An arbitrator is a disinterested person, to whose judgment and decision matters in dispute are referred, Termes de la Ley.The civilians make a difference between arbiter and arbitrator, though both found their power in the compromise of the parties; the former being obliged to judge according to the customs of the law: whereas the latter is at liberty to use his own discretion, and accommodate the difference in that manner which appears most just and equitable.An ar...
Indorsement
Indorsement [fr. in, Lat., upon, and dorsum, a back], anything written or printed upon the back of a deed or writing. The requisites of a valid indorsement of a bill of exchange, promissory note, or cheque, are laid down by the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 32, the principal requisites being that the indorsement must be written on the bill itself (except in the case of an 'allonge' or 'copy' in a country where 'copies' are recognized) and signed by the indorser, his simple signature, without additional words, being sufficient; that it be an indorsement of the entire bill [though indorsement of a blank form may be valid, Glenie v. Tucker, (1908) 1 KB 263]; and that where there are two or more indorsements, each is deemed to have been made in the order in which it appears on the bill, cheque, or note, until the contrary is proved. As to the recovery of the amount of the cheque by the drawer, after payment obtained by a forged indorsement, see North and S...
Misconduct
Misconduct, is a relative term. It has to be considered with reference to the subject-matter and the context wherein such term occurs. It literally means wrong conduct or improper conduct, R.D. Saxena v. Balram Prasad Sharma, (2000) 7 SCC 264.Misconduct, means 'A transgression of some established and definite rule of action, a forbidden act, a dereliction from duty, unlawful behaviour, wilful in character, improper or wrong behaviour; its synonyms are misdemeanour, misdeed, misbehaviour, delinquency, impropriety, mismanagement, offence, but not negligence or carelessness, (Black's Law Dictionary), N.G. Dastane v. Shrikant S. Shivde, (2001) 6 SCC 135.The word 'misconduct' is not capable of precise definition, but at the same time though incapable of precise definition, the word 'misconduct' on reflection receives its connotation from the context, the delinquency in performance and its effect on the discipline and the nature of duty. The act complained of must bear a forbidden quality or...
Seigniorage
Seigniorage, a royalty or prerogative of the Crown, whereby an allowance of gold and silver, brought in the mass to be exchanged for coin, is claimed.Seigniorage, has two distinct meanings (i) profit made by a Government by issuing currency, the Crown's right to charge a percentage on bullion brought to a mint for coining; and (ii) something claimed by a monarch or feudal lord as a prerogative, Divisional Forest Officer v. Tata Finlay Ltd., AIR 2001 SC 2672. [See Kerala Grants and Leases (Modifications of Rights) Act (16 of 1980), s. 4]Means profit made by a Government by issuing currency; the difference or margin between the face value of coins and their production costs; the crown's right to charge a percentage on bullion brought to a mint for coining; the amount charged, something claimed by a monaonch or feudal lord as a prerogative, Divisional Forest Officer v. Tata Finlay Ltd., (2001) 5 SCC 684....
Volenti non fit injuria
Volenti non fit injuria. Plow. 501.-(Where the sufferer is willing no injury is done.) See this maxim criticized by Lord Esher in Yarmouth v. France, (1887) 19 QBD at p. 653, and by Lord Watson in Smith v. Baker, 1891, AC (355). The question is one for the jury, Dublin, etc., Railway Co. v. Slattery, (1878) 3 App Cas 1155. For a recent application of the maxim, see Herd v. Weardale, etc., Co., 195, AC 67.Consent or 'leave and licence' may be said to be a defence in actions of tort or prosecutions (see Archbold, Cr. Pr.), where the consent is to the specific injury or act, unless the act amounts to the infliction of a serious physical injury or where the rights of the public as well as the individual sustaining harm have intervened. The public are interested in preventing one of their number from grievous bodily harm and from exhibitions which alarm the public conscience, such as prize-fights without gloves, duels, etc., and see LIBEL.The maxim has also been invoked in cases where the p...
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