Guarantee - Law Dictionary Search Results
Home Dictionary Name: guarantee Page: 2zone of interest
zone of interest :the range or category of interests that a statute or constitutional guarantee is intended to protect called also zone of interests NOTE: The interest of a party seeking to enforce a law or guarantee in a challenge to an action by the government (as by an administrative agency) must fall within the zone of interest protected by the law or guarantee in question, and the party must have suffered an injury in fact to that interest. ...
Company
Company [fr. compagnia, Ital., which word is still printed on Bank of England notes as 'compa'], a body of persons associated for purposes of busi-ness, sometimes, but not now so frequently as some years ago, styled a Joint Stock Company.A company has its origin either (1) in a charter, as the Bank of England and many insurance companies; or (2) in a special Act of Parliament, with which, as authorizing an undertaking of a public nature such as a railway, the Companies Clauses Consolidation Act, 1845 (8 & 9 Vict. c. 16), is necessarily incorporated; or (3) in registration under the Companies Acts, 1862 and subsequent Acts, now consolidated into the (English) Companies Act, 1925 (19 & 20 Geo. 5, c. 23).By s. 13 of the Act of 1925 (1) on the registration of the memorandum of a company the registrar shall certify under his hand that the company is incorporated and, in the case of a limited company, that the company is limited. (2) From the date of incorporation mentioned in the certificat...
Fidelity, fidelity insurance gurantee
Fidelity, fidelity insurance gurantee, 'Fidelity' according to dictionary means faithfulness, loyalty. In insurance terminology it is understood as assurance to indemnify against loss consequent upon the dishonesty or default. Usually the assured and the person whose fidelity is assured stand to each other in relation of employer and employee. As the use of the word 'fidelity' indicates, 'it is a policy intended to protect the assured against the contingency of breach of fidelity on part of a person in whom confidence has been placed'. It is a contract whereby, for a consideration, one agrees to indemnify another against loss arising from the want of honesty, integrity or fidelity of an employee or other person holding a position of trust. Fidelity Guarantee is thus different from contingency guarantee. The insurance under it is for honesty, against negligence or for being faithful and loyal. The protection afforded is different than normal insurance policies. Its consequences and enfo...
Indemnity
Indemnity, a contract, express or implied, to keep a person harmless from loss which that person may incur by reason of some act, omission or event. It differs from a guarantee which requires a writing under s. 4 of the Statute of Frauds in that the latter guarantee contemplates the primary liability of a third person. as pointed out by Anson on Contracts, a form of indemnity may be illustrated by 'If you will supply goods to A. I will see you paid.' A guarantee, if 'A. does not pay you, I will.' There is, as a rule, a right of subrogation to all the remedies available to the person indemnified under an indemnity available to a person indemnifying-a guarantor has the right of subrogation as well as a right of recourse against the person guaranteed unless otherwise agreed. A great number of indem-nities are implied at Common Law or statute, and the contract extends to all the loss suffered and is not limited in amount as a contract to pay a sum of money is limited. As to implied indemni...
contract
contract [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com- with, together + trahere to draw] 1 : an agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other's duty or a remedy for the breach of the other's duty ;also : a document embodying such an agreement see also accept, bargain, breach, cause, consent, consideration, duty, meeting of the minds, obligation, offer, performance, promise, rescind, social contract, subcontract Uniform Commercial Code in the Important Laws section NOTE: Contracts must be made by parties with the necessary capacity (as age or mental soundness) and must have a lawful, not criminal, object. Except in Louisiana, a valid contract also requires consideration, mutuality of obligations, and a meeting of the minds. In Louisiana, a valid contract requires the consent of the parties and a cause for the contract in addition to c...
Equality
Equality, Equality under art. 16 could not have a different content from equality under art. 14. Equality of opportunity for unequals can only mean aggravation of inequality. Equality of opportunity admits discrimination with reason and prohibits discrimination without reason, State of Kerala v. N.M. Thomas, (1976) 2 SCC 310: AIR 1976 SC 490: (1976) 1 SCR 906.The quality or state being equal; esp. likeness in power or political status, Black's Law Dictionary, 7th Edn., p. 597.Indian Constitution guarantees equality of opportunity to all citizens in the matter of employment or appointment to any office under the State, no citizen will be denied employment on the ground of religion, race, caste, sex and place of birth etc. However, the State can make special provision for reservation of posts for backward class citizens, Constitution of India, Art. 16(1), (2) & 4.The equality before law does not mean absolute equality of men, it only means equal subjection of all individuals to the ordin...
Commission del credere
Commission del credere, where an agent of a seller undertakes to guarantee to his principal the payment of the debt due by the buyer. The phrase del credere is borrowed from the Italian language, in which its signification is equivalent to our word guarantee or warranty, Story's Agency, 28....
Debt
Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed to be due to him; and it was generally founded on some contract alleged to have taken place between the parties, or on some matter of fact from which the law would imply a contract between them. This was debt in the debet, which was the principal and only common form. There is another species mentioned in the books, called debt in the detinet, which lay for the specific recovery of goods, under a contract to deliver them. An action of debt as a technical term is now obsolete. See PLEADINGS. The order of the payment of debts and expenses out of legal assets in an ordinary administration action in the Chancery Division of the High Court is as follows:-1. Funeral expenses, which in the case of an insolvent estate must be strictly reasonable and necessary only, the executor or administrator being personally liabl...
Deposit
Deposit, money paid to a person as an earnest or security for the performance of some contract, especially a contract for the sale of real estate. Also a naked bailment of goods to be kept for the bailor without recompense, and to be returned when the bailor shall require it. The appellation and the definition are both derived from the civil law. Depositum est quod custodiendum alicui datum est. It is, in the civil law, divisible into two kinds: (1) necessary, made upon some sudden emergency, and from some pressing necessity; as, for instance, in case of a fire, a shipwreck, or other overwhelming calamity, when property is confided to any person whom the depositor may meet without proper opportunity for reflection or choice, and thence it is called miserabile depositum; (2) voluntary, which arises from the mere consent and agreement of the parties. the Common Law has made no such division. There is another class of deposits, called involuntary, which may be without the assent or even k...
Mercantile Law Amendment Act, 1856 (English)
Mercantile Law Amendment Act, 1856 (English) (19 & 20 Vict. c. 97). Its principal enactments are: (1) that a writ of execution shall not effect a title bona fide acquired before seizure; (2) that in an action for breach of contract to deliver goods sold, a writ for the delivery of the goods may be obtained (these two ss. are repealed by the Sale of Goods Act, 1893, and reproduced by ss. 26 and 52 of that Act); (3) that the consideration for a guarantee need not appear in writing; (4) that a guarantee to or for a firm ceases upon a change in the firm (this s. is repealed by the Partnership Act, 1890, and reproduced by s. 18 of that Act); (5) that a surety who discharges a liability is to be entitled to an assignment of all securities held by the creditor; (Ss. 6 and 7) that an acceptance of a bill of exchange must be in writing, and that 'inland bill of exchange' bears a certain definition-these two sections are repealed by the Bills of Exchange Act, 1882, and reproduced by ss. 7 and 17...
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