Liquidity - Law Dictionary Search Results
Home Dictionary Name: liquidity Page: 4Penalty
Penalty, is a liability under the taxing statute, Khemka & Co. v. State of Maharashtra, AIR 1975 SC 1549.Penalty, is legal or official punishment such as a term of imprisonment, N.K. Jain v. C.K. Shah, AIR 1991 SC 1289. [Employees' Provident Fund Act, 1952, s. 14]Means recovery of an amount as a penal measure in civil proceedings, or an exaction which is not compensatory in character, Jagjit Cotton Textile Mills v. Chief Commercial Superintendent, N.R., (1998) 5 SCC 126.1. A sum agreed to be paid on non-performance of the condition of a bond. See BOND.2. A sum agreed to be paid on breach of an agreement or any stipulation of it. See LIQUIDATED DAMAGES, and NOMINE PEN'. The fact that the parties state expressly in their contract that the sum named is 'liquidated damages' will not prevent the Court from deciding that it is a penalty. 'The cases upon the subject of penalty or liquidated damages are very numerous. The result of them seems to be this, that what the Courts look at is the rea...
Oil seeds
Oil seeds, the conclusion that jeera, dhania, panmohuri, methi and postak are 'oilseeds' is correct. The Condensed Chemical Dictionary (7th Edition) edited by Arthur and Elizabeth Rose, from which the following informations regarding the seeds in question were available: Dhania (coriander seed); botanical name coriandrum sativum: Coriander oil is distilled from the coriander sativum a colourless or slightly yellowish liquid having aromatic odour. Jeera (cumin seed); Cumin oil is distilled from the cumin seed and is used for medicine, flavouring and perfumery. It is a colourless or yellowish, limpid liquid having characteristic odour of cumin. Postak (poppy seed); botanical name papover somni-ferum: Poppy oil is a very pale, golden yellow liquid with pleasant taste and odour extracted from the seeds and it is used as food oil, artist's colours, varnishes and lubrication. Methi (Fenugreek); botanical name trigonella Foenum-graecum (vide p. 164, Vol. 9 of the Encyclopedia Britannica). It ...
Liquor
Liquor, The word 'liquor' as understood in India at the time of the Government of India Act, 1935, covered not only those alcoholic liquids which are generally used for beverage purposes and produce intoxication, but also all liquids containing alcohol, the definition of liquor contained in section 2(24) of the Bombay Prohibition Act, 1949 is not therefore ultra vires. State of Bombay v F.N. Balsara, AIR 1951 SC 318: (1951) SCR 682. (Constitution of India, Sch. VII, List II, Entry 8)Liquor includes spirits of wine, methylated spirits, spirits, wine, toddy, beer, and all liquid consisting of or containing alcohol, Southern Pharmaceuticals and Chemicals v. State of Kerala, AIR 1981 SC 1863: (1981) 4 SCC 391: (1982) 1 SCR 519....
Default summons
Default summons, a procedure in the county courts for the summary recovery of a debt or liquidated demand. These summonses are of two kinds: (i.) Ordinary Default Summonses; and (ii.) Special Default Summonses. (i.) an Ordinary Default Summons is only applicable to liquidated demands between 2l. and 10l., and is not available against a working-class defendant, except in the case of a trade debt, where the claim exceeds 5l. The plaintiff can sign judgment after eight days from service if the defendant has failed to give notice of defence stating the facts upon which he relies. (ii.) A Special Default Summons is only applicable to liquidated demands over 10l., and cannot be issued against a working-class defendant, except for a trade debt incurred by him. The plaintiff can sign judgment as in (i.) unless the defendant has filed an affidavit of defence within eight days. A special default summons corresponds to the Order XIV. Procedure of the High Court.See (English) County Court Rules, 1...
damage
damage [Old French, from dam injury, harm, from Latin damnum financial loss, fine] 1 : loss or harm resulting from injury to person, property, or reputation 2 pl : the money awarded to a party in a civil suit as reparation for the loss or injury for which another is liable see also additur, cover, mitigate, remittitur compare declaratory judgment at judgment, injunction specific performance at performance NOTE: The trier of fact determines the amount of damages to be awarded to the prevailing party. More than one type of damages may be awarded for a single injury. actual damages : damages deemed to compensate the injured party for losses sustained as a direct result of the injury suffered called also compensatory damages consequential damages : special damages in this entry direct damages : damages for a loss that is an immediate, natural, and foreseeable result of the wrongful act compare special damages in this entry ex·em·pla·ry damages [ig-zem-plə-r...
Liquation
The act or operation of making or becoming liquid also the capacity of becoming liquid...
Water
Water, the word 'water (jal)' refers to water in tanks or wells and does not refer to the flowing water of the river. Indeed, if a grant of the river including it flowing water is intended to be made, the Sanad would have definitely used the word 'river (nadi)', because it is well-known that when rivers, drains or culverts are intended to be gifted, the Sanads usually use the words 'nadi and nalla.' Therefore, on a plain construction of the relevant words used in the Sanad, there can be no doubt that what is conveyed to the grantee by the Sanad is stationary of static water in the ponds or wells and not the flowing water of the river, S.N. Ranade v. Union of India, AIR 1964 SC 24 (27): (1964) 1 SCR 885.1. The transparent liquid that is a chemical compound of hydrogen and Oxygen (H2O)2. A body of this liquid, as in a stream, river, lake, or ocean, Black's Law Dictionary, 7th Edn., p. 1585....
Spirituous liquor
Spirituous liquor, means any fermented liquor, any wine, or any alcoholic liquid obtained by distilla-tion or the sap of any kind of palm tree, and includes any other liquid containing alcohol which the Central Government may, by notification in the Official Gazette, declare to be a spirituous liquor for the purposes of this Act. [Cantonments Act, 1924 (2 of 1924), s. 2(xxxvi)]...
Shampoo
Shampoo, Shampoo is a kind of liquid soap. It has all the essential ingredients of a soap. It may be that the proportion of the ingredients of the liquid soap differ from those of a soap in the form of a cake but that fact would not alter the basic character of shampoo and take it out of the category of soaps, State of Gujarat v. Prakash Trading Co., AIR 1973 SC 960 (961). [Bombay Sales Tax Act, (51 of 1959) Sch. C, Entry 28]...
Reliqua
Reliqua, means the remainder of a debt after balancing or liquidating an account; money left unpaid, Black's Law Dictionary, 7th Edn., p. 1294.Reliqua, the remainder or debt which a person finds himself debtor in upon the balancing or liquidation of an account. Hence reliquary, the debtor of a reliqua; as also a person who only pays piecemeal....
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