Joint Liability - Law Dictionary Search Results
partner
partner : one of two or more persons associated as joint principals in carrying on a business for the purpose of enjoying a joint profit : a member of … in a law firm dormant partner : silent partner in this entry general partner : a partner whose liability for partnership debts and obligations is unlimited compare limited partner in this entry lim·it·ed partner : a partner
company
is represented by shares owned by stockholders each of whom is personally liable for the company's debts limited liability company : an unincorporated company formed under applicable state statute whose members cannot be held liable for the … income solely or primarily by holding and investing in securities issued by other companies or by government agencies joint-stock company : a business organization whose capital is represented by shares owned by stockholders each of whom is
partnership
a business for profit as co-owners see also Uniform Partnership Act in the Important Laws section compare corporation, joint venture, sole proprietorship NOTE: Except in civil law as practiced in Louisiana, where a partnership, like a corporation, … full regardless of the amount of the individual partner's capital contribution compare limited partnership in this entry limited liability partnership : a partnership formed under applicable state statute in which the partnership is liable as an entity
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Commandite, Partnerships en
are these: There is a managing partner, who manages the affairs of the partnership and is under unlimited liability to creditors, and there is a sleeping partner, who contributes, or agrees to contribute, capital of specified amount … France which are limited, where the contract is between one or more persons, who are general partners, and jointly and severally responsible, and one or more other persons, who merely furnish a particular fund or capital stock,
Turnover
account or on account of others whether for cash or for deferred payment or for other valuable consideration, Joint Commercial Tax Officer v. Young Men's Association (Regd.), AIR 1970 SC 1212 (1215): (1970) 1 SCC 462: (1970) … out therein is to be taken into account. Excise duty though paid by the purchaser to meet the liability of the appellant, is a part of the consideration for the sale and is includible in the turnover
Husband and wife
s. 39, ibid., and the 6th sched. To that Act, Part III, tenancies by entireties was converted to joint tenancies upon trust for sale, and by s. 184, ibid., in cases where the survival of either husband … INSURANCE. Sect. 3 of the (English) Law Reform (Married Women and Tortfeasors) Act, 1935, has abolished the husband's liability for his wife's torts and ante-nuptial contracts, debts and obligations. Previously to this enactment, by the Common Law,
Company
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 … all the functions of an incorporated company, and having perpetual succession and a common seal, but with such liability of the members to contribute to the assets of the company in the event of its being wound
Insurance
underwriters. The underwriters meet in a subscription room at Lloyd's, at the back of the Royal Exchange. The joint affairs of the subscribers to these rooms are managed by a committee chosen by the sub-scribers. Agents (who … losses by burglary or by default of clerks, and, in fact, almost all kinds of risk, chance and liability, are now commonly insured against. Insurances are effected sometimes by companies or societies, and sometimes by individuals, the
Ship
than sixty four persons may own a ship as part owners, and not more than five may be joint owners of a ship or shares therein, but a corporation may be registered as owner (s. 5). A … rivers below the bridges where the tide ebbs and flows, R. v. Anderson, LR 1 CCR 161. The liability of shipowners (who are liable at common law, if carriers, as insurers of goods) is limited by s.
Adoption
or consent or marriage, and the child assumes the same relation to the adopter, e.g., in regard to liability for the latter's maintenance, and natural parents are deprived permanently of their parental rights, and are required to … resident and domiciled in England or Wales, but a single adopter, only, will be authorized unless two spouses jointly apply. A male may not adopt a female infant unless the court finds special reasons. The consents of
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