Financing Statement - Law Dictionary Search Results
Home Dictionary Name: financing statementfinancing statement
financing statement : a statement that contains information about a security interest in collateral used to secure a debt and that is filed to provide notice to other creditors of the security interest see also perfect Uniform Commercial Code in the Important Laws section compare financial statement NOTE: Under Article 9 of the Uniform Commercial Code, a financing statement must 1) give the names of the debtor and the secured party, 2) be signed by the debtor, 3) give the address of the secured party, 4) give the address of the debtor, and 5) indicate the items of collateral. ...
financial statement
financial statement : a statement of one's status with regard to money or wealth compare financing statement ...
adopt
adopt 1 : to take voluntarily (a child of other parents) as one's own child esp. in compliance with formal legal procedures see also equitable adoption 2 : to take or accept as if one's own [[the company] ed the signature on the financing statement "Barber-Greene Co. v. Nat'l City Bank of Minneapolis, 816 F.2d 1267 (1987)"] 3 : to accept formally and put into effect [ a constitutional amendment] adopt·able [ə-dÄ p-tə-bəl] adj adopt·abil·i·ty [ə-dÄ p-tə-bi-lə-tē] adv adop·tion [ə-dÄ p-shən] n ...
file
file filed fil·ing vt 1 a : to submit (a legal document) to the proper office (as the office of a clerk of court) for keeping on file among the records esp. as a procedural step in a legal transaction or proceeding [filed a tax return] [a financing statement filed with the Secretary of State] [filing a notice of appeal] ;also : record [filed a mortgage in the Registry of Deeds] NOTE: In nearly all cases, a document is deemed to be filed when it is actually received by the office to which it is directed. A few cases, however, have held that a document is filed upon the mailing of it. b : to place (as a document) on file among the records of an office esp. by formally receiving and endorsing [a complaint filed by the clerk despite the absence of the filing fee] 2 : to return (the documentation in a case) to the records of a clerk of court without any determination of the case ;broadly : to conclude (a case) without a determination on its merits 3 : to initiate (a judicial...
perfect
perfect : entirely without fault or defect: as a : satisfying all requirements [failed to make tender] b : free from any valid legal objection : valid and effective at law [having title to the property] compare imperfect [pər-fekt] vt : to complete or put in final conformity with the law: as a : to make (an appeal) ready for transfer to an appeals court by satisfying procedural requirements b : to put (one's security interest) in a position or status having priority over subsequently perfected security interests or unperfected security interests by taking statutorily prescribed steps to give notice esp. by filing a financing statement or taking possession of the collateral [was the first creditor to its security interest in the debtor's collateral, and, thus, was the first in priority for the collateral "Commercial Bank v. Pride Furniture, Inc., 877 P.2d 1222 (1994)"] compare attach vi : to make something (as a security interest) complete, in conformity with the law, or...
Perfect
Perfect, means to complete or put in final conformity with the law; as (a) to make (an appeal) ready for transfer to an appeals court by satisfying procedural requirements, (b) to put (one's security) in a position or status having priority over subsequently perfected security interests or unperfected security interests by taking statutorily prescribed steps to give notice exp. by filing a financing statement or taking possession of the collateral, Commercial Bank v. Pride Furniture, Inc., 877 P. 2d 1232 (1994)....
Finance Acts
Finance Acts. In and after 1894 the Annual Taxing Acts, which had for a long time borne the short titles of 'Customs and Inland Revenue Acts,' have borne the short titles of 'Finance Acts.' The Finance Act incorporates the Budget which is the Chancellor of the Exchequer's annual statement or report of the financial results of the past year, estimated expenditure and income of the coming year and proposals in regard to taxation. These proposals are passed into law by the Finance Act but are enforced as soon as a resolution of the Committee of Ways and Means agrees to them in order to prevent forestalling and anticipation in commodities. See Halsb. L.E., title 'Parliament (Ways and Means).'...
Annual Financial Statement
Annual Financial Statement, means a statement made by the Minister-incharge of Finance in the legislature containing the probable income and expenditure of the Government for any year; familiarly known as Budget. Parliamentary Practice, Erskin May, 22nd Edn., p. 788.In U.K., this statement is made by the Chancellor of the Exchequer in the House of Commons when he has completed his estimate of the probable income and expenditure for the financial year, Parliamentary Practice, Erskine May, 22nd Edn., p. 788.It contains his view of the resources of the country; it declares whether the burdens upon the people are to be increased or diminished, Parliamentary Practice, Erskine May, 22nd Edn., p. 788.The Annual Financial Statement or the Statement or the Statement of the Estimated Receipts and Expenditure of the Government of India in respect of each financial year, known as the 'Budget', is presented to Lok Sabha on such day as the President may direct, Rules of Procedure and Conduct of (Raj...
Succession duties
Succession duties. The (English) Succession Duty Act, 1853, amended by 22 & 23 Vict. c. 21, ss. 12-15, and by the Customs and Inland Revenue Acts, 1881, 1888, and 1889, imposed a new set of duties, varying in amount from 1 per cent. in the case of a child succeeding a parent to 10 per cent. in the case of succession to a stranger in blood, upon real or personal property to which any person succeeds on the death of another. The duty is calculated on the capitalized value for the life of the successor of the property succeeded to, in accordance with a table schedule to the Act of 1853; e.g., if a person aged fifty succeed to property worth 100l. a year, he pays succession duty upon 1242l. 19s. 6d.Succession duties are payable as a rule at the same rate as legacy duty in respect of all property liable to be administered by any Court in Great Britain and Northern Ireland--unlike legacy duty, it falls on property passing by death (succession), under disposition by deed or other instrument (...
Contract 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...
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