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Joint-tenancy
Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter of conveyance or claim in solido, and not as merchan-dise,...
Vest
Vest, (1) Either to place in possession; to make possessor of; or, to give an absolute interest in property when a named period or event occurs. (2) (of a right or interest) Its coming into the...
Tail
Tail [fr. tailler, Fr., to prune]. An estate-tail was formerly a freehold of inheritance and is now an equitable interest which may be created after 1925 in respect of personalty as well as realty by way...
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Maintenance
maintenance of infants and persons until they attain a vested interest if they are entitled to the intermediate income or otherwise as provided under settlements created after 1925, see Trustee Act, 1925, s. 31, reproducing and extending
trust
Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted in
Information
micro fiche. [Information Technology Act, 2000, s. 2 (1) (v)] The word 'information' in s. 34(1)(b) of the Income Tax Act, 1922 includes information as to the true and correct state of the law and so would
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)....
Corporation or body politic
Corporation or body politic, an artificial person es-tablished for preserving in perpetual succession certain rights, which being conferred on natural persons only would fail in process of time. It is either aggegate, consisting of many members,...
Common
Common, a profit which a man has in the land of another; it derives its name from the community of interest which thence arises between the claimant and the owner of the soil, or between the...
Business
systematically by a person by the application of his labour or skill with a view to earning an income. In the context in which the expression 'business connection' is used in s. 9(1) of the Act, there
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