Floating Policy - Law Dictionary Search Results

Home Dictionary Name: floating policy

floater 1 from the notion that the policy “floats” with the goods it insures, wherever they might be located : a policy or supplemental attachment to a policy insuring specific items of personal property (as jewelry or art) ;specif : a policy of insurance to protect against loss or damage of goods in transit or goods (as jewels) naturally subject to use in various places called also floating policy 2 : a debt security that yields an indexed variable rate of interest ;esp : floating rate note at note ...

Public policy

Public policy, connotes some matter which concerns public good and the public interest. Expression does not admit of precise definition. Concept of 'public policy' is considered to be vague, susceptible to narrow or wider meaning depending upon the content in which it is used, Oil and Natural Gas Corporation Ltd. v. Saw Pipes Ltd., AIR 2003 SC 2629.Public policy, connotes some matter which concerns the public good and the public interest, Central Inland Water Transport Corporation Ltd. v. Broja Nath Ganguly, AIR 1986 SC 1571; Shri Parsar v. Municipal Board, (1997) 1 WLC 443.Public policy, demands that where fraud might have been contemplated but was not perpetrated, the defendants should not be allowed to perpetrate a new fraud. If the illegality of the transaction is trivial or venial and the plaintiff is not required to rest his case upon that illegality, then public policy demands that the defendant should not be allowed to take advantage of the position, Kedar Nath Motani v. Prahla...

Floating charge

Floating charge. This term is not a legal term, but it is well understood and is used in Acts of Parliament, e.g., the (English) Finance Act, 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 property comprised in it being dealt with in the ordinary course of business, until the undertaking charged ceases to be a going concern, or until the creditor in some way or other intervenes, 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 reconstruction [Crompton & Co., 1914, 1 Ch 954]. Under the (English) Companies Act, 1929, s. 88, all floating charges must be registered in the Register of Charges.The subsidiary shares, rather than circulating in the ordinary course of the claimant's business, are part of...

Public policy, opposed to public policy

Public policy, opposed to public policy, from the very nature of things, the expressions 'public policy', 'opposed to public policy', or 'contrary to public policy' are incapable of precise definition. Public policy, however, is not the policy of a particular government. It cannotes some matter which concern the public good and the public interest. The concept of what is for the public good or in the public interest or what would be injurious or harmful to the public good or the public interest has varied from time to time. As new concepts take the place of old, transactions which were once considered against public policy are now being upheld by the courts and similarly where there has been a well recognized head of public policy, the courts have not shirked from extending it to new transactions and changed circumstances and have at times not even flinched from inventing a new head of public policy. Practices which were considered perfectly normal at one time have today become obnoxio...

Renewal of insurance policy

Renewal of insurance policy, a renewal of an insurance policy means repetition of the original policy. When renewed, the policy is extended and the renewed policy in identical terms from a different date of its expiration comes into force. In common parlance, by renewal, the old policy is revived and it is sort of a substitution of obligations under the old policy unless such policy provides otherwise, Biman Krishna Bose v. United India Insurance Co. Ltd., (2001) 6 SCC 477 (482)....

Policy of insurance

Policy of insurance, a contract between A. and B., that upon A.'s paying a premium equivalent to the hazard run, B. will indemnify or insure him against a particular event. See INSURANCE.The (English) Policies of Assurance Act, 1867, enabled assignees of life policies to sue thereon in their own names. The (English) Policies of Marine Assurance Act, 1868, made a like provision in regard to marine policies. See also CHOSE.It includes:(a) any instrument by which one person, in consideration of a premium, engages to indemnify another against loss, damage or liability arising from an unknown or contingent event.(b) a life-policy, and any policy insuring any person against accident or sickness, and any other per-sonal insurance. [Indian Stamp Act, 1899 (2 of 1899), s. 2 (19); Rajasthan Stamp Act, 1999, s. 2(27)]...

Floating

Buoyed upon or in a fluid a the floating timbers of a wreck floating motes in the air...

Floating assets

Floating assets, where there is a fixed charge over assets, such as the subsidiary shares, the fact that the charger is entitled to enjoy the fruits of the asset, such as the distribution rights, should not lead to the charge as it covers those assets being characterized as floating, Atlantic Computer System Plc (in re:), (1992) Ch 505. See also Arthur D Little Ltd. (in administration) v. Ableco Finance LLC, (2003) LR 217 (Ch): (2002) EWHC 701 (Ch)....

claims made policy

claims made policy : an insurance policy providing coverage only for claims that are filed during the policy period called also discovery policy compare occurrence policy ...

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