Liabilities - Law Dictionary Search Results
Time Charter-party
Time Charter-party, a time charter, is 'one in which the ownership and also possession of the ship remain in the original owner whose remuneration or hire is generally calculated at a monthly rate on the tonnage of the ship, while a voyage charter is a contract to carry specified goods on a defined voyage on a remuneration or freight usually calculated according to the quantity of cargo carried'. In Carver's Carriage by Sea, it is stated that 'all charter-parties are not contracts of carriage. Sometimes the ship itself, and the control over her working and navigation, are transferred for the time being to the persons who use her. In such cases the contract is really one of letting the ship, and, subject to the express terms of the charter-party, the liabilities of the ship owner and the charterers to one another are to be determined by the law which relates to the hiring of chattels, and not by reference to the liabilities of carriers and shippers'. According to Scrutton on Charter-par...
Property
Property, an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252.Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected privy purse, See M.M. Pathak v. Union of India, AIR 1978 SC 802.Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201.Every movable property is included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70.In commercial law this may carry its ordinary meaning of the subject-matter of ownership. But elsewhere, as in the sale of goods it may be used as a synonym for ownership and lesser rights in goods, Dictionary of Commercial Law by A.H. Hudson, (1983, Edn.).In Entry 42, List III (Constitution of India) includes the power to legislate for acquisition of an un...
Material alteration
Material alteration, A material alteration is one which varies the rights, liabilities, or legal position of the parties as ascertained by the deed in its original state, or otherwise varies the legal effect of the instrument as originally expressed, or reduces to certainty some provision which was originally unascertained and as such void, or which may otherwise prejudice the party bound by the deed as originally executed, Loonkaran Sethia v. Mr. Ivan E. John, AIR 1977 SC 336 (347): (1977) 1 SCC 379: (1977) 1 SCR 853.The material alterations contemplate change of substantial nature affecting the form and character of the building. Many a time tenants make minor constructions and alterations for the convenient use of the tenanted accommodation. The legislature does not provide for their eviction; instead, the construction so made would furnish ground for eviction only when they bring about substantial change in the front and structure of the building. The essential element which needs ...
Consideration
Consideration. Any act of the promisee (the person claiming the benefit of an obligation) from which the promisor (the person burdened with the obligation) or a stranger derives a benefit or advantage, or any labour detriment or inconvenience sustained or suffered by the promisee at the request, express or implied, of the promisor. See Laythoarp v. Bryant, 3 Scott 250; 2 Wms. Saund 137 h; Currie v. Misa, (1875) LR 10 Exch 153.Consideration is one of the facts which the courts require as evidence of intention, (a) that a person intends his promise to be binding on him, or (b) that he intends to divest himself of a beneficial interest in property. In its widest sense consideration is the price, motive or inducement for a promise or for a transfer of property from one person to another. The nature or quality of the consideration which will be sufficient for these purposes varies with the nature of the transaction and in the absence of consideration the Courts will, except in the case of s...
Carriage by Air Act (English)
Carriage by Air Act (English), 1932 (22 & 23 Geo. 5, Convention for the Unification of Certain Rules relating to International Carriage by Air. The rules constitute a code of the law of carriage of passengers, luggage and goods consigned, and the liabilities of the carrier and rights and liabilities of passengers and consignors. The Act is to come into force by Order in Council....
class action
class action : an action in which a representative plaintiff sues or a representative defendant is sued on behalf of a class of plaintiffs or defendants who have the same interests in the litigation as their representative and whose rights or liabilities can be more efficiently determined as a group than in a series of individual suits called also class action suit class suit see also certification compare consolidate, joinder test case at case NOTE: Rule 23 of the Federal Rules of Civil Procedure sets out the prerequisites for having an action certified as a class action in federal court. Section (a) permits a class action if “(1) the class is so numerous that joinder of all members is impracticable, (2) there are questions of law or fact common to the class, (3) the claims or defenses of the representative parties are typical of the claims or defenses of the class, and (4) the representative parties will fairly and adequately protect the interests of the class.” If th...
asset
asset [back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez enough] 1 : the entire property of a person, business organization, or estate that is subject to the payment of debts used in pl. compare equity 2 : an item of property owned admitted asset : an asset allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry appointive asset : an asset in an estate that is to be distributed under a power of appointment capital asset : a tangible or intangible long-term asset esp. that is not regularly bought or sold as part of the owner's business ;specif : any asset classified as a capital asset by law (as section 1221 of the Internal Revenue Code) cur·rent asset : a short-term asset (as inventory, an account receivable, or a note) that can be quickly converted into cash equitable asset : an asset esp. in an estate that is sub...
exoneration
exoneration 1 : the act of disburdening or discharging (as from a charge, liability, obligation, duty, or responsibility) ;also : the state of being so freed 2 a : the right of a person who has paid a debt for which he or she is only secondarily liable to be reimbursed by the person primarily liable b : the right of a surety to require a person or estate that is subject to a liability for which the surety is secondarily liable to discharge the liability thus relieving the surety ;also : the equitable remedy by which the surety compels discharge of the liability ...
Risk Note
Risk Note, the name sometimes given to the special contract, sanctioned by s. 7 of the Railway and Canal Traffic Act, 1854 (17 & 18 Vict. c. 31), but not binding on the consignor unless signed by him and also just and reasonable, exempting a railway or canal company from liability for loss of or injury by their negligence or that of their servants to goods or animals carried by them. Both before and after the decision of the House of Lords in Peek v. North Staffordshire Ry. Co., (1868) LR 10 HL 473, in which it was held, after summoning the judges, that the contracts must be both reasonable and signed, these risk notes have occasioned much litigation; see especially Great Western Ry. Co. v. McCarthy, (1887) 12 App Cas 218, to the effect that by offering alternative rates-a higher rate with the ordinary carrier's liability, and a lower rate with exemption from liability-a company may exempt themselves from all liability except for wilful is conduct, Sutcliffe v. G.W.Ry., (1910) 1 KB 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...
- ‹ Prev
- 2
- 3
- 4
- 5
- 6
- 8
- 9
- 10
- 11
- 12
- Next ›
- Last »