Going Concern Value - Law Dictionary Search Results
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going concern value : the value of the assets of an enterprise or of the enterprise itself considered as an operating business and therefore based on earning power and prospects rather than on the value of the same assets or the same business in the event of liquidation ...
Property
Property, an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252.Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected privy purse, See M.M. Pathak v. Union of India, AIR 1978 SC 802.Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201.Every movable property is included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70.In commercial law this may carry its ordinary meaning of the subject-matter of ownership. But elsewhere, as in the sale of goods it may be used as a synonym for ownership and lesser rights in goods, Dictionary of Commercial Law by A.H. Hudson, (1983, Edn.).In Entry 42, List III (Constitution of India) includes the power to legislate for acquisition of an un...
Market value
Market value, The term 'market value' has ac-quired a definite connotation by judicial decisions. Any addition to the value of the land to the owner whose land is compulsorily acquired which addition is the result of such factors as are unrelated to the open market cannot be regarded as a part of the market value, Union of India v. Shri Ram Mehar, AIR 1973 SC 305: (1973) 2 SCR 720: (1973) 1 SCC 109.Market value means the price that a willing purchaser would pay to a willing seller for the property having due regard to its existing condition with all its existing advantages and its potential possibilities when laid out in the most advantageous manner excluding any advantages due to the carrying out of the scheme for which the property is compulsory acquired, Thakur Kanta Prasad Singh v. State of Bihar, AIR 1976 SC 2219: (1976) 3 SCC 772: (1976) 3 SCR 585; Prithvi Raj Taneja v. State of Madhya Pradesh, AIR 1977 SC 1560: (1977) 1 SCC 684: (1977) 2 SCR 633. (Land Acquisition Act, 1894, s. ...
Goodwill
Goodwill, may be the whole advantage belonging to the firm, its reputation as also connection thereof. It, thus, means that every affirmative advantage as contrasted with negative advantage that has been acquired in carrying on the business whether connected with the premises of business or its name or style, everything connected with or carrying the benefit of the business, Ramnik Vallabhdas Madhwani v. Taraben Pravinlal Madhwani, (2004) 1 SCC 407: AIR 2004 SC 1084 (Partnership Act, 1932, s. 55).A business's reputation, patronage, and other intan-gible assets that are considered when apprising the business, esp. for purchase; The ability to earn income in excess of the an come that would be expected from the business veined as a mere collec-tion of assets, Black's Law Dictionary, 7th Edn., p. 703.The advantage or benefit which is acquired by a business, beyond the mere value of the capital, stock, funds, or property employed therein, incon-sequence of the general public patronage and ...
Magna Carta
Magna Carta, [Latin 'great charter'] The English charter that King John granted to the barons in 1215 and Henry III and Edward I later confirmed. It is generally regarded as one of the great common-law documents and as the foundation of constitution liberties. The other three great charters of English Liberty are the Petition of Right (3 Car. (1628)), the Habeas Corpus Act (31 Car. 2 (1679)), and the Bill of Rights (1 Will. SM. (1689)). Also spelled Magna charta, Black's Law Dictionary, 7th Edn., p. 963.This Great Charter is based substantially upon the Saxon Common Law, which flourished in this kingdom until the Normaninvasion consolidated the system of feudality, still the great characteristic of the principles of real property. The barons assembled at St.Edmund's Bury, in Suffolk, in the later part of the year 1214, and there solemnly swore upon the high alter to withdraw their allegiance from the Crown, and openly rebel, unless King John confirmed by a formal charter the ancient li...
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