Mutual - Law Dictionary Search Results
Home Dictionary Name: mutual Page: 3Commerce
Commerce [fr. commutatio mercium, Lat.], the intercourse of nations in each other's produce and manufactures, in which the superfluities of one are given for those of another, and then re-exchanged with other nations for mutual wants. Commerce relates to our dealings with foreign nations, colonies, etc.; trade, to mutual dealings at home, See McCull. Com. Dict....
Mistake
Mistake, misconception, error.Money paid under a mistake of a material fact, as where a person discounts a forged bill, is recoverable (though a banker paying the forged cheque of a customer cannot charge the customer with the loss), and see Jones & Co. v. aring & Gillow Ltd., 1926 AC 670; but money paid under a mistake of law is ordinarily not recoverable, Holt v. Markham, (1923) 1 KB 504, though there is an exception in the case where an officer of a Court or a trustee in bankruptcy has received the money [Ex P. Simmonds, (1885) 16 QBD 308]. A contract is not voidable because it was caused by a mistake as to any law in force in India; but a mistake as to a law in force in India has the same effect as a mistake of fact. (The Indian Contract Act, 1872, s. 21)It is a common condition of the sale of land that any error or misdescription shall not vitiate the sale, and mayor may not be made the subject of compensation, and this condition applies whether an error complained of was discover...
Marriage
Marriage. Marriage as understood in Christendom is the voluntary union for life of one man and one woman, to the exclusion of all others, Hyde v. Hyde, 1866 LR 1 P&D 130. Where a marriage in a foreign country complies with these requirements it is immaterial that under the local law dissolution can be obtained by mutual consent or at the will of either party with merely formal conditions of official registration, and it constitutes a valid marriage according to English law, Nachimson v. Nachimson, 1930, P. 217. Previous to 1753 the validity of marriage was regulated by ecclesiastical law, not touched by any statutory nullity but modified by the Common law Courts, which sometimes interfered with the Ecclesiastical Courts, by prohibition, sometimes themselves decide on the validity of a marriage, presuming a marriage in fact as opposed to lawful marriage. A religious ceremony by an ordained clergyman was essential to a lawful marriage, at all events for dower and heirship; but if in an i...
Exchange
Exchange, a contract of sale denotes a transfer of property in goods by mutual consent. Such a transfer of ownership must be in relation to transfer from one person to another. The consideration would be a price in the form of money. Only when the consideration for transfer consists of other goods it may be an exchange or barter, Dhampur Sugar Mills Ltd. v. Commissioner of Trade Tax, (2006) 5 SCC 624: (2006) 11 JT 111: (2006) 5 SCALE 595: (2006) 5 Supreme 73: (2006) 4 SLT 189: (2006) 7 SCJ 60: (2006) 6 SCJD 106: (2006) 147 STC 57.Exchange, often contracted into change, a building or other place in considerable trading cities, where merchants, agents, bankers, brokers, and other persons concerned in commerce, meet at certain times to confer and treat together of matters relating to exchanges, remittances, payments, adventures, assurances, freights, and other mercantile negotiations, both by sea and land.Also used to designate that species of mercantile transactions by which the debts of...
Contract
Contract, an agreement between competent parties, to do or to abstain from doing some act. For numerous other definitions, see Chalmers's Sale of Goods Act, App. II., where it is said that the 'disposition of the best modern writers appears to be to define ' contract ' as an agreement enforce-able at law,' but contended that this definition seems rather too narrow.Every contract is founded upon the mutual agree-ment of the parties; the other essentials are legality, capacity (depending on age, mental ability, sex and status) a mutual identity of consent (consensus ad idem), and form. When an agreement is stated either verbally or in writing it is usually called an express contract; when the agreement is matter of inference and deduction, it is called n implied contract. (See IMPLIED CONTRACT.)Contract, which provides that the price includes the cost of the goods, the freight and the insurance premium for the transit, Halsbury's Laws of England, Vol. 3(1), para 253, p. 210.Contracts may...
Giffgaff
Mutual accommodation mutual giving...
Assensio mentium
Assensio mentium [Lat.], The meeting of minds i.e. mutual consent.Mutual assent, which is the meetings of the minds of both parties to a contract, is vital to the existence of a contract...
agreement
agreement 1 a : the act or fact of agreeing [by mutual ] b : unity of opinion, understanding, or intent ;esp : the mutual assent of contracting parties to the same terms [if they reach ] NOTE: Under common law, agreement is a necessary element of a valid contract. Under Uniform Commercial Code section 1-201(3), agreement is the bargain of the contracting parties as represented explicitly by their language or implicitly by other circumstances (as a course of dealings). 2 a : an expression (as a settlement, covenant, or contract) of the intent or willingness of two or more parties to bind at least one to terms usually determined by negotiation [an must be sufficiently definite before a court can enforce it "J. D. Calamari and J. M. Perillo"] b : the language or instrument embodying such an expression [signed the ] ...
mistake
mistake 1 : an unintentional error esp. in legal procedure or form that does not indicate bad faith and that commonly warrants excuse or relief by the court [the court's power to revise a judgment because of fraud, , or irregularity] [a clerical ] 2 : an erroneous belief: as a : a state of mind that is not in accordance with the facts existing at the time a contract is made and that may be a ground for the rescission or reformation of the contract b : a misconception at the time of an offense alleged by a defendant mistake of fact 1 : a mistake regarding a fact or facts esp. that significantly affects the performance of a contract 2 : a criminal defense that attempts to eliminate culpability on the ground that the defendant operated from an unintentional misunderstanding of fact rather than from a criminal purpose mistake of law : a mistake involving the misunderstanding or incorrect application of law in regard to an act, contract, transaction, determination, or state of aff...
dividend
dividend 1 : the part of corporate net earnings distributed usually periodically (as quarterly) to stockholders in the form of cash, additional shares, or property either as a set amount per share or a percentage of par value constructive dividend : a benefit (as unreasonable compensation or use of corporate property) or transfer of funds from a corporation to a shareholder that is interpreted by a taxing authority as a dividend cumulative dividend : a dividend distributed to preferred stockholders that is added to and paid with the next payment or future payments if not paid when due extraordinary dividend : a dividend declared in addition to a regular dividend because of unanticipated profits or a nonrecurring increase of revenue 2 : a share of the surplus earnings of a mutual insurance company paid to policyholders either in the form of cash disbursements or through reduction of premiums 3 : a payment disbursed to investors from the income of a mutual fund ...
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