Fixed Asset - Law Dictionary Search Results
Net wealth tax
National Taxes, is whether or not there is an actual, enforceable legal obligation the amount of which is fixed or computable as on December 31, of the tax year.' According to Harvard Law School World Tax Series … has been defined at page 625 as follows: 'Taxable wealth consists of the capital value of the tax-payer's assets, as those are defined in the law, to the extent that this value exceeds the capital value of
Floating charge
See Government Stock, etc., Co. v. Manila Ry. Co., 1897 AC 86, per Lord Macnaghten. The charge becomes fixed and enforceable by the charges as soon as the company goes into liquidation, even for the purpose of … 1915, s. 27, and may be said to denote a security which is an equitable charge on the assets for the time being of a going concern. It allows of the business being carried on and the
Joint-stock Banks
of the shareholders in chartered banks is in most if not in all cases limited to some amount fixed by the charter, generally twice the amount of their shares. Under the (English) Companies Act, the liability may … the debts of the bank to the extent of the amount paid to note-holders out of the general assets. The sale and purchase of shares in joint-stock banking companies is regulated by the Banking Companies (Shares) Act,
Keep your definitions linked to case research
Executor
their claims to a named person within the time (not being as a rule less than two months) fixed by the notice and he may at the expiration of the time distribute the estate, having regard to … received. (5) It is the duty of the executor to collect and speedily reduce into money the personal assets, when not otherwise directed, especially if they be of a perishable nature. (6) As an executor cannot sue
Annuity
Annuity, in order to constitute an annuity, the payment to be made periodically should be a fixed or predetermined one, and it should not be liable to any variation depending upon or on any ground … A created annuity is a general legacy, and will abate with the other legacies upon a deficiency of assets. It commences, as a rule, from the death of the testator [Re Robbins, (1907) 2 Ch 13], but
liability
may not be owed depending on the outcome of a contingency (as a cosigner's default on a loan) fixed liability : a liability (as a bond or mortgage) that does not mature for at least one year … one is liable: as a : a financial obligation : debt [tax ] [the bonds are liabilities] compare asset contingent liability : an amount that may or may not be owed depending on the outcome of a
Dividend
chit. [Chit Funds Act, (40 of 1982), s. 2(h)] Dividend, is a share of profits, whether at a fixed rate or otherwise, allocated to the holders of shares in a company, Henry v. Great Northern Rly. Co., … Act, 1845); a distributive share of a bankrupt's estate or on the winding-up of the company, of its assets. As to the liability upon a company in respect of a dividend when the warrant for it, having
security
from particular requirements of the Securities and Exchange Commission (as those relating to registration on a security exchange) fixed-income security : a security (as a bond) that provides a fixed rate of return on an investment (as … who acquire control over the funds invested [a involves some form of investment contract] see also due diligence asset-backed security : a security (as a bond) that represents ownership in or is secured by a pool of
fund
debt that is payable either at a distant date or at no definite date and that bears a fixed interest … funds common trust fund : an in-house trust fund established by a bank trust department to pool the assets of many small trusts for greater diversification in investing executor fund : a fund established in estate planning
- ‹ Prev
- 1
- 2
- Next ›
Try the research workspace - 7 days free