Fixed Liability - Law Dictionary Search Results
Plant
on his business, not his stock-in-trade which he buys or makes for sale, but all goods and chattels, fixed or movable, live or dead, which he keeps for permanent employment in his business, C.I.T. v. Taj Mahal … Plant, the fixtures, tools, machinery, and apparatus necessary to carry on a trade or business. See the Employers Liability Act, 1880, and Yarmouth v. France (1887) 19 QBD 647, where a horse was held to be 'plant'
asset
esp. in an estate that is subject to the payment of debts only in a court of equity fixed asset : a tangible asset (as a piece of equipment) that is of a permanent or long-term nature … assets are generally subject to equitable distribution on divorce. net assets 1 : the excess of assets over liabilities called also net worth 2 : admitted assets considered as a whole net quick assets : the excess
Deed
is examined with the draft by the solicitors of the parties before an appointment for its execution is fixed. (7) The attestation is not essential, unless it be required by a particular statute, or by the express … a trust, or any authority by a letter of attorney, or if he executes the deed, undertake any liability therein expressed to be undertaken by him, Halsbury, L. of Eng 'Deeds.' Under a deed-poll any person sufficiently
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Constructive notice
investigaged the title, or made enquiries in regard to matters prior to the period of commencement of title fixed by that Act, or any other statute or by any rule of law he might have had notice, … solicitor or other agent. (2) Paragraph (ii) of the last sub-s. shall not exempt a purchaser from any liability under or any obligation to perform or observe any covenant, condition, provision, or restriction contained in any instrument
Insurance
classes of life insurance companies. The first class consists of corporations or joint-stock companies, who under-take to pay fixed sums upon the death of indi-viduals insuring with them; the profits made by such companies being wholly divided … losses by burglary or by default of clerks, and, in fact, almost all kinds of risk, chance and liability, are now commonly insured against. Insurances are effected sometimes by companies or societies, and sometimes by individuals, the
underwrite
insurance policy) 2 : to agree to purchase (all or part of a security issue) usually on a fixed date at a fixed price with the purpose or plan to resell by means of a public offering … underwrite -wrote [-rōt, -rōt] -writ·ten [-rit-n, -rit-n] -writ·ing 1 a : to assume liability for (a risk) as an insurer [the insurer s individuals, not the group, in franchise health insurance] b
Sale price
by auditing the tax in question to the price of the goods sold. In that event the price fixed for the goods including the tax payable becomes the valuable consideration given by the purchasers for the goods … (1971) 2 SCC 532. (ii) Under s. 4 of the Madhya Pradesh General Sales Tax Act, 1958 the liability to pay tax is that of the dealer. The purchaser has no liability to pay tax. There is
Ship
supported craft, submersibles, or any other floating craft. [Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002, s. 2(h)] … rivers below the bridges where the tide ebbs and flows, R. v. Anderson, LR 1 CCR 161. The liability of shipowners (who are liable at common law, if carriers, as insurers of goods) is limited by s.
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., … 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 been duly posted, is
partnership
non-commercial partnership compare trading partnership in this entry partnership at will : a partnership whose duration is not fixed by contract and that is terminable at will by any partner partnership by estoppel : a partnership created … full regardless of the amount of the individual partner's capital contribution compare limited partnership in this entry limited liability partnership : a partnership formed under applicable state statute in which the partnership is liable as an entity
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