Mineral Lease - Law Dictionary Search Results
Home Dictionary Name: mineral leasemineral lease
mineral lease see lease ...
lease
lease [Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner ;also : the act of such conveyance or the term for which it is made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of goods for a term in return for consideration.” build·ing lease : ground lease in this entry consumer lease : a lease made by a lessor regularly engaged in the selling or leasing of a product to a lessee who is leasing the product primarily for his or her personal or household use finance lease : a lease in which the lessor acquires g...
mining lease
mining lease : mineral lease at lease ...
Mining lease
Mining lease, means for the purposes of the (English) Law of Property Act, 1925, a lease for mining purposes, that is, the searching for, winning, working, getting, making merchantable, carrying away, or disposing of mines and minerals, or purposes connected therewith, and includes a grant or licence for mining purposes [s. 205 (1) (xiv.), ibid.].'Mining lease', according to s. 3(d) of 1948 Act, means a lease granted for the purpose of searching for, winning, working, getting, making merchantable, carrying away or disposing of minerals or for the purposes connected therewith and includes an exploring or a prospecting license. 'Mining lease', according to Rule 3(i) of 1949 Rules means a lease to mine, quarry, bore, dig and search for, win, work and carry away any mineral specified therein. s. 3(c) of 1957 Act defines 'mining lease' to mean a lease granted for the purpose of undertaking mining operations and includes a sub-lease granted for mining operations, Gujarat Pottery Works v. B.P...
Royalty
Royalty, a payment reserved by the grantor of a patent, lease of a mine or similar right, and payable proportionately to the use made of the right by the grantee. It is usually a payment of money, but may be a payment in kind, that is, of part of the produce of the exercise of the right, Jowitt's Dictionary of English Law, 2nd End., p. 1595.In the legal world, is known as the equivalent or translation of jura 'regalia' or 'jura regia'. Royal rights and prerogatives of a sovereign are covered thereunder. In its secondary sense, the word 'royalty' would signify, as in mining leases, that part of the reddendum, variable thought, payable in cash or kind, for rights and privileges obtained, Inderjeet Singh Sial v. Karam Chand Thapar, (1995) 6 SCC 166.Royalty, is not a tax. Simply because the royalty is levied by reference to the quantity of the minerals produced and the impugned cess too is quantified by taking into consideration the same quantity of the mineral produced, the latter does no...
Lease
Lease [either from locatio, Lat., the letting of property, or laisser, Fr., to let, or leapum, or leasum, Sax., to enter lawfully], sometimes also called demise (demissio), is a grant of property for life, or years, or from year to year or at will, by one who has greater interest in the property. The person granting is called the lessor, who is possessed of the reversion (as to a reversion being essential to a lease, see 1 Platt on Lease, pp. 9 et seq.); he to whom the property is granted, the lessee. The consideration is usually the payment of a rent or other annual recompense. The ancient operative words were 'demise, lease, and to farm let,' or 'demise and lease.'The (English) Law of Property Act,1925, makes a distinction between leases for years which become legal estates if they consist of terms of years absolute and leases for life which have been converted into merely equitable interests if created under a settlement, but by s. 149 of the Act leases for life at a rent or in cons...
Renewal of lease
Renewal of lease, a re-grant of an expiring lease for a further term. Where a lease contains a covenant by the lessor for renewal, this convenant is commonly subject to the condition that the covenants in the lease shall have been performed by the lessee, and this condition is strongly enforced by the Court, Finch v. Underwood, (1876) 2 Ch D 310.Leases may be surrendered in order to be renewed, without a surrender of under-leases, by virtue of the (English) Landlord and Tenant Act, 1730 (4 Geo. 2, c. 28), s. 6, before which Act a surrender of each under-lease was necessary.As to covenants for perpetual renewal, see Wynn v. Conway Corporation, (1914) 2 Ch 705, and cases there referred to.By the (English) Law of Property Act, 1922, s. 145, and 15th Sch., perpetually renewable leases have, from the 1st January, 1926, been converted into terms of 2,000 years from the date of the commen-cement of the existing term. The conversion is without prejudice to the covenants and conditions of the l...
Minerals
Minerals, means all substances which can be obtained from the earth by mining, digging, drilling, dredging, hydraulicking, quarrying or by any other operation and includes mineral oils. [Mines Act, 1952, s. 2(jj)]This term may include all substances of commercial value which can be got from beneath the earth, either by mining or quarrying, except common clay [Glasgow v. Farie, (1888) 13 App Cas 657], or sandstone (N.B. Ry. v. Budhill Coal and Sandstone Co., 1910 AC 116); but china clay is a mineral (G.W. Ry. v. Carpalla China Clay Co., 1910 AC 83). See also Waring v. Foden, (1932) 1 Ch 276.By the (English) Law of Property Act, 1925, s. 205 (1) (ix.), mines and minerals include any strata or seam of minerals or substances in or under any land and the powers of working and getting the same, but not an undivided share thereof.Minerals would include minor minerals unless minor minerals are expressly excluded or the context otherwise requires, D.K. Trivedi & Sons v. State of Gujarat, AIR 19...
Under-lease
Under-lease, a grant by a lessee to another, called under-lessee, or under-tenant, or sub-lessee, or sub-tenant, of a part of his whole interest under the original lease, reserving to himself a reversion; it differs from an assignment, which conveys the lessee's whole interest, and passes to the assignee the right and liability to sue and be sued upon the covenants in the original lease.An under-lease for the whole term of the original lease amounts to an assignment, Beardman v. Wilson, (1868) LR 4 CP 57.Between the original lessor and an under-tenant there is neither privity of estate nor privity of contract, so that these parties cannot take advantage, the one against the other, of the covenants, either in law or in deed, which exist between the original lessor and lessee [Holford v. Hatch (1779) 1 Dougl 183; Johnson v. Wild, (1890) 44 Ch D 146]; but the lessor can distrain on the sub-lessee or take advantage of a condition of forfeiture, G.W. Ry. v. Smith, (1876) 2 Ch D 253. By s. 4...
encumber
encumber also in·cum·ber [in-kəm-bər] vt -bered -ber·ing : to burden with a claim (as a mortgage or lien) [ed the land with a mineral lease] ...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial