Prizefighting. Public prizefighting is an affray and an indictable misdemeanour on the part of both combatants and backers (see Rg. v. Coney, (1882) 8 QBD 534, in which it was held that the mere presence of persons at a prizefight was not enough to sustain a conviction for assault), and railway companies providing trains for any prizefights are liable to heavy penalties under the (English) Regulation of Railways Act, 1868, s. 21. If death ensue, the surviving combatant is guilty of manslaughter....
Special Indian law, the term 'special Indian law' means a special Indian Law enacted by the Indian legislature and not a law enacted by the British Parliament specially for India, Bank of India v. Vijay Transport, AIR 1988 SC 151 (154): (1988) Supp SCC 47: (1988) 1 SCR 961. [Bombay Companies Accosia-tion and Transfer of Undertaking Act, (5 of 1970), s. 3]...
Debenture [fr. debeo, Lat., to owe] may be defined generally as a charge in writing [not necessarily sealed, see British India, etc., Co. v. Commissioners of Inland Revenue, (1881) 7 QBD 165] of certain pro-perty with the repayment at a time fixed of money lent by person therein named at a given interest, but the term is a very elastic one. The word 'debenture' is of ancient origin and appears to have been in use five centuries ago (Palmer's Company Precedents, Pt. III., p. 1); and a document which, though it mentions to security and is only a promise to pay, is properly described as a debentures, and as a marketable security will require to be stamped as such, Spenyer v. Inland Revenue Commissioners, (1907)1 KB 246. By the (English) Companies Act, 1929, s. 380, a debenture is defined as including debenture stock, bonds or other securities of a company whether constituting a charge on the assets of the company or not. The charge created by debentures as a rule is fixed on the company's...
Desertion, (1) the criminal offence of abandoning the naval or military service without license. See ss. 12 et seq. of the (English) Army Act, 1881, replacing similar s.s of the (English) annual Mutiny Acts, and Reg. v. Cuming, (1887) 19 QBD 13.Also (2) an abandonment of a wife, a matrimonial offence, for which the remedy is under (English) Judicature Act, 1925, s. 185, by which a sentence of judicial separation may be obtained either by the husband or wife on the ground of desertion, without cause, for two years and upwards; and see (English) Matrimonial Causes Act, 1857 (20 & 21 Vict. c. 85), s. 21, as to orders for the protection of the property of wives deserted by their husbands; and the (English) Summary Jurisdiction (Married Women) Act, 1895 (58 & 59 Vict. c. 39), repealing and re-enacting the (English) Married Women (Maintenance in Case of Desertion) Act, 1886, under which a deserted wife may obtain an order from justices of the peace that the husband pay her such weekly sum, n...
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...
Directors, persons appointed or elected according to law, authorized to manage and direct the affairs of a corporation or company. The whole of the directors collectively form the board of directors. Their powers, if the company be incorporated by Act of Parliament, are derived from its special Acts and ss. 90-100 of the (English) Companies Clauses Act, 1845; if the company be incorporated under the (English) Companies Act, 1929, see ss. 139 et seq., ibid. The company is bound by all acts of the directors within the scope of their authority. They may receive a salary, but may make no personal profit from the company [see, however, Re Dover Coalfield Ltd., (1908) 1 Ch 65], nor can a pension be granted to a retiring managing director, Normandy v. Ind, Coope & Co., (1908) 1 Ch 84; but they were under no personal liability except for fraud, as to the criminal liability for which see Larceny Act, 1861 (24 & 25 Vict. c. 96), ss. 81 et seq., and DECEIT. Public companies registered after Octob...
Winding-up, the process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies.The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other cases the winding-up is usually voluntary and conducted by the company itself either with or without the supervision of the Court. The provisions of the (English) Companies Act, 1929, govern a winding-up in any of these three modes (s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if not of certain value to be...
Caveat viator (let the traveller beware), meaning that he must use reasonable care for his own safety; but a traveller or passer-by on premises on or over which he has a right to be or to pass is entitled to be protected from the negligence of those who are under some duty to passers-by or users of the premises. The degree of duty varies according to whether the victim of the accident has a contract involving care or even absolute assurance or warranty on the part of the defendant in regard to the soundness of the premises or otherwise, or whether the plaintiff was a visitor or licensee. See Indermaur v. Dames, (1866) LR 1 CP 274, Latham v. Johnson, 1913 (1) KB 398, and Norman v. Great Western Railway Company, 1915 (1) KB 584 (2) CP 311. The case of a trespasser is quite different, but even then the owner of the land or person in possession has no right to lay a trap for him or commit any other wilful injury, see Bird v. Holbrook, (1828) 4 Bing 628, with that exception, the owner of th...
Corporation, a co-operative society is a corporation, Daman Singh v. State of Punjab, AIR 1985 SC 973 (978): (1985) 2 SCC 670. [Punjab Co-operative Societies Act (25 of 1961) s. 30]'Corporation' is an artificial being created by law having a legal entity entirely separate and distinct from the individuals who compose it with the capacity of continuous existence and succession, notwithstanding changes in its membership. In addition, it possesses the capacity as such legal entity of taking, holding and conveying property, entering into contracts, suing and being sued, and exercising such other powers and privileges as may be conferred on it by the law of its creation just as natural person may, S.S. Dhanoa v. Municipal Corpn., (1981) 3 SCC 431: AIR 1981 SC 1395 (1398). [Penal Code (45 of 1860), s. 21, Cl. (12)]'Corporation' referred to under s. 20 Expln of CPC mean not only statutory corporation but also a company registered under the Indian Companies Act, Hakam Singh v. Gamnar (India) L...
Joint-stock Banks, joint-stock companies for the purpose of banking. They are regulated, according to the date of their incorporation, by charter, or by 7 Geo. 4, c. 46; 7 & 8 Vict. cc. 32 and 113; 9 & 10 Vict. c. 45 (in Scotland and Ireland); 20 & 21 Vict. cc. 49 & 91; and 27 & 28 Vict. c. 32; or by the Companies Act, 1929, in substitution for previous Acts, which makes registration under it compulsory in the case of a partnership consisting of more than ten persons. It is believed that the liability of the shareholders in chartered banks is in most if not in all cases limited to some amount fixed by the charter, generally twice the amount of their shares. Under the (English) Companies Act, the liability may be either limited or unlimited, and most banks registered under the old Companies Act of 1862 were unlimited until 1880, when many took advantage of the (English) Companies Act, 1879 (42 & 43 Vict. c. 76), to register anew as limited; see now Companies Act, 1929, ss. 321, 322, 359...