Fixed Amount Option - Law Dictionary Search Results
Home Dictionary Name: fixed amount optionfixed amount option
fixed amount option : installments-for-a-fixed-amount option at option ...
installments-for-a-fixed-amount option
installments-for-a-fixed-amount option see option ...
fixed period option
fixed period option : installments-for-a-fixed-period option at option ...
installments-for-a-fixed-period option
installments-for-a-fixed-period option see option ...
Option of purchase in a lease
Option of purchase in a lease. A clause giving the lessee the option of purchasing the reversion for a fixed sum within a limited number of years, or at anytime during the term, is sometimes inserted in leases. A clause giving an option of purchase at any time during a ninety-nine years' lease offends against the law of perpetuities (see that title) and cannot be specifically enforced, Woodall v. Clifton, (1905) 2 Ch 257; Worthing Corporation v. Heather, (1906) 2 Ch 532. For statement of opinion that the clause 'to be completely valid must be so expressed that the option must necessarily be exercised (if at all) within the limits of the time allowed by the rule against perpetuities,' so that probably not more than twenty one years could be allowed in a lease independent of life, see article by Mr. T. Cyprian Williams in the Solicitors' Journal for July 9, 1898; and for cases on option of purchase generally, see Woodfall, L. & T....
lease purchase (lease option)
lease purchase (lease option) assists low to moderate income homebuyers in purchasing a home by allowing them to lease a home with an option to buy; the rent payment is made up of the monthly rental payment plus an additional amount that is credited to an account for use as a down payment. Source: U.S. Department of Housing and Urban Development ...
Designated fixed 'capital account
Designated fixed 'capital account', in relation to a partnership, means an account (1) which is prepared and designated as such under the terms of the partnership agreement; (2) which shows capital contributed by the partners; (3) from which, under the terms of the agreement, an amount representing capital may only be withdrawn by a partner if (a) he ceases to be a partner and an equal amount is transferred to a designated fixed capital account by his former partners or any person replacing him as their partner; or (b) the partnership is otherwise dissolved or wound up, Banking Act, 1987, s. 67(4) (UK) Halsbury's Laws of England 3(1), para 123, p. 106....
Land-tax
Land-tax, means a tax laid upon land and houses, which in 1689 (1 Will. & Mary, c. 3) superseded all the former methods of taxing either property or persons in respect of their property, whether by tenth or fifteenths, subsidies on land, hydages, scutages, or talliages. Although generally a charge upon a landlord, yet it is a tax neither on landlord nor tenant, but on the beneficial proprietor, as distinguished from the mere tenant at rack-rent; and if a tenant have to any extent a beneficial interest, he becomes liable to the tax pro tanto, and can only charge the residue on his landlord. Houses and buildings appropriated to public purposes are not liable to land-tax. As to its origin and inequality, see 3 Hall. Cons. Hist. 135; Miller on the Land-tax; Bourdin on Land-tax.The more agricultural counties, upon which the burden of the tax has fallen most heavily by reason of the depreciation in value of agricultural land, were greatly relieved by s. 31 of the (English) Finance Act, 1896,...
Option agreement
Option agreement, means a share transfer restric-tion that commits the shareholder to sell, but not the corporation or other shareholders to buy, the shareholder's shares at a fixed price when a specified event occurs, Black's Law Dictionary, 7th Edn., p. 1122....
Optional
Involving an option depending on the exercise of an option left to ones discretion or choice allowed but not compulsory as optional studies it is optional with you to go or stay...
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