Last In First Out - Law Dictionary Search Results
Home Dictionary Name: last in first outlast in, first out
last in, first out : being or relating to a method of valuing inventories by which items from the last lot received are assumed to be sold first and all requisitions are priced at the cost per item of the lot last stocked compare first in, first out ...
Last in, first out
Last in, first out, means an accounting method that assumes that the most recent purchases are sold or used first. Matching current costs against current revenues, Black's Law Dictionary, 7th Edn., p. 887....
first in, first out
first in, first out : being or relating to a method of valuing inventories by which items in the lot first received are assumed to be issued or sold first and requisitions are priced at the cost per item of the oldest lot on hand compare last in, first out ...
LIFO
LIFO last in, first out ...
Last day of term
Last day of term. On the last day of each of the four terms the junior barrister present in every Court of law was entitled to make his motion the first, and so on, in order of juniority, to the senior outer-barrister; afterwards, among the Queen's Counsel and serjeants, the senior began. For the purposes of the administration of justice the division of the legal year into terms has been abolished (Jud. Act, 1873, s. 26). See SITTINGS....
First point leavy
First point leavy, The words 'first point levy' is no doubt a single-point levy. Even a last point levy in the same series of sales is a single-point levy which is distinguishable from a multi-point levy, Ashok Service Centre v. State of Orissa, AIR 1983 SC 394: (1983) 2 SCC 82: (1983) 2 SCR 363....
Payment, out of
Payment, out of, the words 'payment out of' in its first meaning connotes actual payment, e.g., by taking the money out of the drawer or drawing a cheque on of bank. When used in connection with the word 'fund' in its second meaning they connote that, for the purposes of the account in which the fund finds place, the payment is debits to that fund, an operation which, of course, has no relation to the actual method of payment or the particular cash resources out of which the payment is made, R.K. Dalmia v. Delhi Administration, AIR 1962 SC 1821 (1834): (1963) 1 SCR 253....
Hysterology
A figure by which the ordinary course of thought is inverted in expression and the last put first called also hysteron proteron...
Last resided
Last resided, the cognate expression 'last resided' takes colour from the word 'resides' used earlier in the sub-section. The same meaning should be given to the word 'resides' and the word 'resided', that is to say, if the word 'resides' includes temporary residence, the expression 'last resided' means the place where the person had his last temporary residence, Jagir Kaur v. Jaswant Singh, (1964) 2 SCR 73: AIR 1963 SC 1521 (1524). [Criminal Procedure Code, 1898, s. 488 (8)]...
Where he last resided with his wife
Where he last resided with his wife, the cognate expression 'last resided' takes colour from the word 'resides' used earlier in the sub-s.. The same meaning should be given to the word 'resides' and the word 'resided', that is to say, if the word 'resides' includes temporary residence, the expression 'last resided' means the place where the person had his last temporary residence, Jagir Kaur v. Jaswant Singh, AIR 1963 SC 1521 (1524): (1964) 2 SCR 73....
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