Marginal Cost - Law Dictionary Search Results
Home Dictionary Name: marginal costmarginal cost
The increase in total cost of production as a result of producing one more unit of output since certain ovrhead costs are fixed the marginal cost is almost aways less than the total per unit cost of production averaged over all units produced...
margin
margin 1 : the difference between net sales and the cost of the merchandise sold from which expenses are usually met or profits derived 2 : the amount by which the market value of collateral is greater than the face value of a loan 3 a : cash or collateral deposited in a regulated amount by a client with a broker who is financing the purchase of securities see also regulation t b : a deposit made with a broker by a client who is trading in futures ...
Marginal note
Marginal note, an abstract of a reported case, a summary of the facts, or brief statement of the principle decided, which is prefixed to the report of the case, usually in the earlier reports placed in the margin, and corresponding to the head-notes of later times and the present day 'marginal notes are often conveniently appended to documents of any kind.The marginal notes which appear in the statute-books as printed by the King's Printers have not the authority of the legislature, and cannot alter the interpretation of the text. See Claydon v. Green, (1868) LR 3 CP 5, per Willes, J.; Sutton v. Sutton, (1882) 22 Ch D 5, per Jessel, M.R. In the Revised Statutes they have been revised throughout to make them in accordance with the text; and in Chitty's Statutes of Practical Utility they have been much added to, abridged, or altered.In some private Acts of Parliament the marginal notes may form part of the Act, Re Working, etc., Act, 1911 (1914) 1 Ch 300, per Phillimore, LJ....
Costs
Costs, expenses incurred in litigation or professional transactions, consisting of money paid for stamps, etc., to the officers of the Court, or to the counsel and solicitors, for their fees, etc.Costs in actions are either between solicitor and client, being what are payable in every case to the solicitor by his client, whether he ultimately succeed or not; or between party and party, being those only which are allowed in some particular cases to the party succeeding against his adversary, and these are either interlocutory, given on various motions and proceedings in the course of the suit or action, or final, allowed when the matter is determined.Neither party was entitled to costs at Common Law, but the Statute of Gloucester (6 Edw. 1, c. 4), gave cots to a successful plaintiff, and 2 & 3 Hen. 8, c. 6, and 4 Jac. 1, c. 3, to a victorious defendant; see Garnett v. Bradley, (1878) 3 App Cas 944.In proceedings between the Crown and a subject the general rule is that the Crown neither ...
Double or treble costs
Double or treble costs have been frequently granted by statute, e.g., to successful defendants in actions for irregular distress, by the (English) Distress for Rent Act, 1737 (11 Geo. 2, c. 19), s. 20. The true mode of estimating the amount of double costs was first to allow the successful party the single costs, including the expenses of witnesses, counsel's fees, etc., and then allow him one-half of the amount of the single costs, without deducting counsel's fees, etc. Treble costs consisted of the single costs, half the single costs, and half of that half. But the public statutes prior to 1842 which gave these costs were repealed by the (English) Limitations of Actions and Costs Act, 1842 (5 & 6 Vict. c. 97), popularly called 'Pollock's Act,' which enacted that the successful party should be entitled only to full and reasonable costs, to be taxed by the proper officer-an enactment repealed in its turn by the (English) Public Authorities Protection Act, 1893 (see that title)....
Security for costs
Security for costs. In certain cases a plaintiff, before proceeding with his action, may be required to give security for the costs of it. The principal cases in which security may be required are the following: (1) Where the plaintiff is resident abroad, but if he resides in Scotland or Northern Ireland security will not be required: aliter, in the Irish Free State, Wakely v. Triumph Cycle Co., 40 TLR 15 (CA); (2) where he mis-describes his residence, or is keeping out of the way; (3) where he is only a nominal plaintiff and is insolvent; (4) where he is a privileged person, e.g., an ambassador's servant; (5) where the plaintiff is a limited company ((English) Companies Act, 1929, s. 371). But security cannot be required from a plaintiff on the mre ground of poverty or insolvency; or from a defendant, unless by reason of a counterclaim he is really in the position of a plaintiff; or from a person compelled to litigate. Security for costs may extend as well to past as future costs.The ...
axation of costs
axation of costs. The mode by which certain officers of the various courts allow or disallow the sums claimed by solicitors from their clients, or by the one party in an action from the other. In the High Court taxation is carried out by Taxing Masters who are Masters of the Supreme Court (R.S.C. Ord. LXI., r. 1B), and in county courts by the registrars.As between party and party a taxation of costs is always had, and the costs disallowed cannot be recovered by the successful from the unsuccessful party, but must be paid by such successful party to his solicitor unless they be disallowed as between solicitor and client.Costs as between solicitor and client can be re-covered by a public authority from an unsuccessful defendant by virtue of s. 1 of the Public Authorities Protection Act, 1893; and also in an action for the infringement of a patent by the plaintiff, if in a prior action he has obtained a certificate of the validity of his patent, under s. 35 (as amended) of the Patents and...
Taxation of costs
Taxation of costs. The mode by which certain officers of the various courts allow or disallow the sums claimed by solicitors from their clients, or by the one party in an action from the other. In the High Court taxation is carried out by Taxing Masters who are Masters of the Supreme Court (R.S.C. Ord. LXI., r. 1B), and in county courts by the registrars.As between party and party a taxation of costs is always had, and the costs disallowed cannot be recovered by the successful from the unsuccessful party, but must be paid by such successful party to his solicitor unless they be disallowed as between solicitor and client.Costs as between solicitor and client can be re-covered by a public authority from an unsuccessful defendant by virtue of s. 1 of the Public Authorities Protection Act, 1893; and also in an action for the infringement of a patent by the plaintiff, if in a prior action he has obtained a certificate of the validity of his patent, under s. 35 (as amended) of the Patents an...
At his own Cost, 'at its Cost'
At his own Cost, 'at its Cost', the words 'at his own cost' refer to the licensee, whereas in the case of his nominee being either an institution or a person, as the case may be, the words 'at its cost' have been used. The expression 'at his own cost' and 'at its cost' must be held to have separate and distinct meaning. They are not meant to aim at the same person, DLF Qutab Enclave Complex Educational Charitable Trust v. State of Haryana, (2003) 5 SCC 622 (636). [Haryana Development and Regulations of Urban Areas, 1975 (8 of 1975)]...
Cost-book mining companies
Cost-book mining companies. The statutory regulations relating to these Companies are contained in the Stannaries Acts, 1869 (32 & 33 Vict. c. 19) and 1887 (50 & 51 Vict. c. 43), and the Companies Act, 1929. The Latter Act (s. 357) has preserved the then existing provisions of the earlier Acts. Subject to the statutory provisions, it maybe said that these companies are formed thus:-A number of adventures, who have obtained permission from the landowner to work a lode, assemble; they decide on the number of shares into which their capitalis to be divided, and the number to be allotted to each; they appoint an agent, commonly called a purser, for the purpose of managing the affairs of the mine, and enter in a book, called the cost book, the minutes of their proceedings, which are signed by all present. A license to try for ores, for twelve months, or some short period, is then obtained; followed, if the search be promising, by a set, that is, a lease of the minerals, or a license to ding...
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