Forwarding Merchant - Law Dictionary Search Results
Home Dictionary Name: forwarding merchantForwarding merchant
Forwarding merchant, one who receives and forwards goods, taking upon himself the expenses of transportation, for which he receives a compensation from the owners, having no concern in the vessels or waggons by which they are transported, and no interest in the freight, and not being deemed a common carrier, but a mere warehouseman and agent, Story on Bailments, 509....
Hire
Hire [locatio, conductio, Lat.], a bailment for a reward or compensation. It is divisible into four sorts:-(1) The hiring of a thing for use (locatio rei). (2) The hiring of work and labour (locatio operis faciendi). (3) The hiring of care and services to be performed or bestowed on the thing delivered (locatio custodi'). (4) The hiring of the carriage of goods (locatio operis mercium vehendarum) from one place to another. The three last are but sub-divisions of the general head of hire of labour and services.The rights, duties, and obligations of the parties resulting from the contract of bailment for hire may be thus stated:-(I.) Hire of things. The letting to hire implies an obligation to deliver the thing to the hirer; to refrain from every obstruction to the use of it by the hirer during the period of the bailment; to do no act that shall deprive the hirer of the thing; to warrant the title and right of possession to the hirer, in order to enable him to use the thing, or to perfor...
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
Bill of Lading
Bill of Lading, a memorandum signed by masters of ships, in their capacity of carriers, acknowledging the receipt of merchants' goods, of which there are usually three parts-one kept by the consignor, one sent to the consignee, and one preserved by the master. It is the evidence of the title to the goods shipped; and by its endorsement and delivery, the transfer of the property in the goods specified therein is generally effected. By the Bills of Lading Act, 1855, the rights of suit under a bill of lading vest in the consignee or endorsee (as if the contract contained in the bill of lading had been made with himself) without prejudice to any right of stoppage in transitu or to freight. See (English) Carriage of Goods by Sea Act, 1924 (14 & 15 Geo. 5, c. 22), and Carver on Carriage by Sea.A bill of lading is 'a writing, signed on behalf of the owner of the ship in which goods are embarked, acknowledging the receipt of the goods, and undertaking to deliver them at the end of the voyage s...
Jury
Jury [fr. jurata, Lat.; jure, Fr.], a number of persons sworn to deliver a verdict upon evidence delivered to them touching the issue.Trial by jury may be traced to the earliest Anglo-Saxon times. One of the judicial customs of the Saxons was that a man might be cleared of an accusation of certain crimes, if an appointed number of persons (juratores, or more properly compurgatores) came forward and swore to a veredictum, that they believed him innocent. It is remarkable that for accusations of any consequence among the Saxons on the continent, twelve juratores was the number required for an acquittal. Similar customs may be observed in the laws of Athens and Rome, where dikaotai and judices answer to jurors, an of the continental Angli and Frisiones, though the number of jurors varied.See, as to the introduction and growth of trial by jury in England, Forsyth's History of Trial by Jury; and for comments on and proposed amendments of the law, see Erle's Jury Laws and their Amendment, pu...
Lloyd's
Lloyd's. in the second half of the seventeenth century a number of merchants, ship-owners, and insurance brokers were accustomed to meet in Lloyd's Coffee House in the City of London. From these meetings arose the present association of underwriters, which is famous throughout the world as a centre of marine insurance. Shipping intelligence of all kinds is collected by Lloyd's agents all over the world and forwarded to London. Signal stations have been established under the provisions of (English) Lloyd's Signal Station Act, 1888 (51 & 52 Vict. c. 29). Derelict ships have to be reported to Lloyd's (Derelict Vessels (Report) Act,1896 (59 & 60 Vict. c. 12)). 'Lloyd's List' thus forms a record of shipping news of great importance to the commercial community. Lloyd's Act, 1871 (34 & 35 Vict. c. xxi.), incorporates and regulates Lloyd's. Besides marine insurance, almost any risk can be covered there, and by the Assurance Companies Act,1909 (9 Edw. 7, c. 49), ss. 28 and 33, members of Lloyd'...
Wharfinger
Wharfinger, is defined as 'the occupier of a wharf' or 'a person who owns a wharf', Ramanatha Aiyar's The Law Lexicon; Board of Trustees of the Port of Bombay v. Sriyanesh Knitters, (1999) 7 SCC 359.It is defined as the occupier of wharf and it is further stated that as a rule, wharfingers have a general lien for the balance of their account, Jowitt's Dictionary of English Law; Board of Trustees of the Port of Bombay v. Sriyanesh Knitters, (1999) 7 SCC 359.This term is defined in s. 49 of the Port of London Act, 1908, as follows:The expression 'wharfinger' means the occupier of a wharf, quay warehouse, or granary adjoining the Port of London mainly used for warehousing the goods, imported into the Port of London, of persons other than the occupier of such premises.See also Merchant Shipping Act, 1894, s. 492.Wharfingers, who transport goods of their customers by lighter from importing ships, do not come under liability as common carriers, Consolidated Tea, etc., Co. v. Oliver's Wharf, ...
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