Fair Price - Law Dictionary Search Results
Home Dictionary Name: fair price Page: 2value
value 1 a : a fair return or equivalent in goods, services, or money for something exchanged [received good for the price] b : valuable consideration at consideration 2 : monetary worth ;esp : market value val·ue·less adj vt val·ued valu·ing : to estimate or determine the monetary value of ...
Fair market value
Fair market value.--(i) in relation to any immovable property transferred by way of sale or exchange, being immovable property of the nature referred to in sub-clause (i) of clause (e), means the price that the immovable property would ordinarily fetch on sale in the open market on the date of execution of the instrument of transfer of such property;(ii) in relation to any immovable property transferred by way of lease, being immovable property of the nature referred to in sub-clause (i) of clause (e), means the premium that such transfer would ordinarily fetch in the open market on the date of execution of the instrument of transfer of such property, if the consideration for such transfer had been by way of premium only;(iii) in relation to any immovable property transferred, being immovable property of the nature referred to in sub-clause (ii) of clause (e), means the consideration in the form of money that such transfer would ordinarily fetch in the open market on the date of the tr...
Cattle
Cattle [derived by Skinner, Menage, and Spelman fr. Capitalia, quac aspr copr ad caput pertinent, personal goods; in which sense Chttels is yet used. Mandeville uses Catele for price], beasts of pasture, either wild or domestic.The term, though often limited to horned domestic animals, may include (see Wright v. Pearson, LR 4 QB 582) horses and sheep; and also pigs and asses, R. v. Chapple, Russ & Ry. 77; R. v. Whitney, 1 Mood. 3.Means bulls, cows, steers, heifers and calves, Halsbury's Laws of England, Vol. 2, para 483, p. 246 [Animal Health Act, 1981, s. 89(1) (UK)]As to injury to cattle by a dog, see Dogs Act, 1906, in which, by s. 7, 'cattle' includes 'horses, mules, asses, goats and swine.' See Dog.As to larceny of cattle, see Larceny Act, 1916, s. 3, and as to killing cattle, etc., with intent to steal the carcase, skin, or any part of the animal killed, see s. 4.As to the malicious wounding of cattle, see (English) Malicious Damage Act, 1861, ss. 40 and 41.As to the prevention o...
Loan, gratuitous
Loan, gratuitous, a class of bailment called commodatum in the Roman Law, and denominated by Sir William Jones a loan for use (pret a usage), to distinguish it from mutuum, a loan for consumption.The borrower has the right to use the thing during the time and for the purpose agreed upon by the parties. the loan is to be considered as strictly personal, unless from other circumstances a different intention may fairly be presumed. The borrower must take proper care of the thing borrowed, use it according to the lender's intention, and restore it at the proper time, and in a proper condition.The lender must suffer the borrower to use and enjoy the thing lent during the time of the loan, according to the original intention, without any molestation or impediment, under the peril of damages. He must reimburse the borrower the extraordinary expenses to which he has been put for the preservation of the thing lent. He is bound to give notice to the borrower of the defects of the thing lent; and...
Low visibility rules
Low visibility rules, these are rules of law which are made inaccessible to the public. Generally these are obscure laws, with far reaching powers and which infringe fundamental rights and those which the state does not wish to publicize. 'Fundamental rights cease to be viable if laws calculated to constrict their sweep are withheld from public access; and the freedoms under Art. 19(1) cannot be restricted by hidden or 'low visibility rules' beyond discovery by fair search. ' [Sunil Batra v. Delhi Administration, AIR 1978 SC 1675 (1721), para 93] - here reference is made to the Punjab Jail Manual which was not made available to prisoners and was priced so high that few could buy. (Justice V.R. Krishna Iyer)...
Shop
Shop, a place where thins are kept for sale, usually in small quantities, to the actual consumers. By (English) Shops Act, 1912, s. 19, 'shop' includes any premises where any 'retail trade or business' is carried on; 'retail trade or business' includes the business of a barber or hairdresser, but not the sale of programmes, etc., at places of amusement.A business establishment or place of employment; a factory, office, or other place of business, Black's Law Dictionary, 7th Edn., p. 1384.The (English) Shops Act, 1934, deals with the employment of persons under eighteen years, repealing s. 2 of the (English) Shops Act, 1912; but the other provisions are unaffected. The 1934 Act, s. 1, provides that no young person (under eighteen) shall be employed for more than the normal maximum working hours, that is, forty-eight hours in any week; it makes restrictions on right employment, has special provisions as to the catering trade, the sale of accessories for Aircraft, motor vehicles and cycle...
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