Joint - Law Dictionary Search Results
Home Dictionary Name: jointJoint-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, or for purposes of speculation, to two or more persons in the same right, either simply, or by construction or operation of law jointly, with a jus accrescendi, that is, a gradual concentration of property from more to fewer, by the accession of the part of him or them that die to the survivors or survivor, till it passes to a single hand, and the joint-tenancy ceases.Anciently, joint-tenancy was favoured because it did not induce fractions of estates, and returning to early principles the (English) Land Legislation of 1925 has employed the tenure generally as the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that legal estate has been ...
Hindu joint family and coparcenary
Hindu joint family and coparcenary, a hindu joint family consists of all persons lineally descended from a common ancestor, and includes their wives an unmarried daughters. A Hindu coparcenary is a much narrower body than the joint family: it includes only those person who acquire by birth an interest in the joint or coparcenary property, these being the sons, grandsons, and great-grandsons of the holder of the joint property for the time being. Therefore there may be a joint Hindu family consisting of a single male member and widows of deceased coparceners, Gowli Buddanna v. CIT, AIR 1966 SC 1523 (1525): (1966) 3 SCR 224. [Income-tax Act, 1922 (11 of 1922), s. 3]...
joint and several
joint and several : relating or belonging to two or more parties together and separately [joint and several duties of the partners] see also joint and several liability at liability compare in solido, joint, jointly joint·ly and sev·er·al·ly adv ...
joint tenancy (with rights of survivorship)
joint tenancy (with rights of survivorship) two or more owners share equal ownership and rights to the property. If a joint owner dies, his or her share of the property passes to the other owners, without probate. In joint tenancy, ownership of the property cannot be willed to someone who is not a joint owner. Source: U.S. Department of Housing and Urban Development ...
Joint sitting
Joint sitting, is a joint sitting of both Houses of a bicameral legislature for setting a disagreement, Office of the Speaker in the Parliaments of Commonwealth, Wilding and Philip Laundry, p. 412.In U.K., there is no provision for joint session of the House of Commons and the House of Lords. In Australia, a joint meeting of both Houses of Parliament is held for the purpose of settling a disagreement between them or where it is necessary that a majority of both Houses sitting together should be obtained before changes can be made to the Constitution or certain types of legislation passed, Office of the Speaker in the Parliaments of Commonwealth, Wilding and Philip Laundry, p. 412....
Joint Director
Joint Director, 'Joint Director' means a person appointed to be a Joint Director of Income Tax or an Additional Director of Income Tax under sub-s. (1) of s. 117. [Income-tax Act, 1961 (43 of 1961), s. 2(28D)]...
To be distributed in joint equal proportion
To be distributed in joint equal proportion, means when such an expression appears in a Will with reference to legatees, it creates only tenancy-in-common between them and the word 'joint' is not to be considered as giving a joint interest, but the same as if the testator had said 'to my children altogether of it', Ettrike v. Ettrike, 27 ER 426....
Joint venture
Joint venture, The expression 'joint venture' is more frequently used in the United States. It con-notes a legal entity in the nature of a partnership engaged in the joint undertaking of a particular transaction for mutual profit or an association of persons or companies jointly undertaking some commercial enterprise wherein all contribute assets and share risks. It requires a community of interest in the performance of the subject-matter, a right to direct and govern the policy in connection therewith, and duty, which may be altered by agreement, to share both in profit and losses, New Horizons Ltd. v. Union of India, (1995) 1 SCC 478....
Joint-stock Banks
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...
Joint debt
Joint debt, that the words 'joint debt' in sub-s. (5) of s. 9 include debts which are both joint and several, Har Charan Lal v. Sukha Nand, AIR 1942 Oudh 248....
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