National Trust - Law Dictionary Search Results
Home Dictionary Name: national trust Page: 2 Page 2 of about 32 results (0.004 seconds)Joint-tenancy
Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter of conveyance or claim in solido, and not as merchan-dise, or for purposes of speculation, to two or more persons in the same right, either simply, or by construction or operation of law jointly, with a jus accrescendi, that is, a gradual concentration of property from more to fewer, by the accession of the part of him or them that die to the survivors or survivor, till it passes to a single hand, and the joint-tenancy ceases.Anciently, joint-tenancy was favoured because it did not induce fractions of estates, and returning to early principles the (English) Land Legislation of 1925 has employed the tenure generally as the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that legal estate has been ...
bank
bank : an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds branch bank : a banking facility that is a separate but dependent part of a chartered bank ;esp : a facility that performs some banking functions and is separate from a main office bridge bank : a national bank that is chartered for a limited time to operate an insolvent bank until it is sold central bank : a national bank that establishes monetary and fiscal policy and controls the money supply and interest rate collecting bank : a bank other than the payor bank that is handling for collection a negotiable instrument or a promise or order to pay money commercial bank : a bank organized chiefly to handle the everyday financial transactions of businesses (as through deposit accounts and commercial loans) cooperative bank : an association (as a credit union) owned by and offering banking services for its members ;specif : savings and ...
trust territory
trust territory : a non-self-governing territory placed under an administrative authority by the United Nations ...
Bank
Bank, Commercially it is a place where money is deposited for the purpose of being lent out at interest, returned by exchange, disposed of to profit, or to be drawn out again as the owner shall call for it. Special provisions are contained in the (English) Companies Act, 1929 relating to Banks. By s. 358, no company, association or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of balance sheets, see s. 129 and ANNUAL RETURNS, ss. 108 and 361. See also JOINT STOCK BANKS and LIMITED LABILITY, and consult Grant, Paget, or Walker on Banking, Chitty's Statutes, tit. 'Bank.'Means financial institution engaged in the accepting of deposits of money, granting...
Commercial purpose
Commercial purpose, 'Commercial' denotes 'pertaining to commerce'; it means 'connected with, or engaged in commerce; mercantile; having profit as the main aim' whereas the word 'commerce' means 'financial transactions especially buying and selling of merchandise, on a large scale', Laxmi Engineering Works v. P.S.G. Industrial Institute, (1995) 3 SCC 583: AIR 1995 SC 1428 (1435). [Consumer Protection Act (68 of 1986), s. 2(d)]Means a hydrocarbon mixture consisting predominantly of propane, propylene or any mixture of them, Halsbury's Laws of England, Vol. 20, para 669, p. 535.Observation of the National Commission that commercial purpose would mean 'profit-making activity on a large scale', Kalpavruksha Charitable Trust v. Toshniwal Brothers (Bombay) Pvt. Ltd., (2000) 1 SCC 512....
Denizen
Denizen [fr. donaison, donison, O.Fr., a gift], an alien born who has obtained, ex donatione regis, letters-patent to make him (either permanently or for a time) an English subject. The granting of such letters-patent is a branch of the Royal Prerogative, and is subject to no restrictions whatever. The denizen might hold lands by purchase or devise, which an alien might not, but could not take by inheritance before the (English) Naturalization Act, 1870; for his parent, through whom he must claim, being an alien, had no heritable blood and therefore could convey none to his son. No denizen can be of the Privy Council, or either House of Parliament, or have any office of trust civil or military.By the British Nationality and Status of Aliens Act, 1914, s. 52, nothing in the Act contained affects the grant of letters of denization by His Majesty in the exercise of his prerogative. See further ALIEN and NATURALIZATION....
Charities, or Public Trusts
Charities, or Public Trusts. One of the earliest fruits of the Emperor Constantine's zeal, or pretended zeal, for Christianity, was a permission to his subjects to bequeath their property to the Church. This permission was soon abused to so great a degree as to induce the Emperor Valentinian to enact to Mortmain Act by which it was restrained. But this restraint was gradually relaxed; and in the time of Justinian it became a fixed maxim of civil law that legacies to pious uses (which included all legacies destined to works of charity, whether they related to spiritual or temporal concerns) were entitled to peculiar favour, and to be deemed privileged testaments.Lord Thurlow was clearly of opinion that the doctrine of charities grew up from the civil law; and Lord Eldon, in assenting to that opinion, has judiciously remarked, that at an early period that ordinary had the power to apply a portion of every man's personal estate to charity; and when afterwards the statute compelled a distr...
Charitable purpose
Charitable purpose, includes relief of the poor, education, medical relief and the advancement of any other object of general public utility, but does not include a purpose which relates exclusively to religious teaching or worship. [Charitable Endow-ments Act, 1890 (6 of 1890), s. 2]Means relief of the poor, education, medical relief and the advancement of any other object of general public utility without the additive words 'not involving the carrying on of any activity for profit', Additional Commissioner of Income Tax v. Surat Art Silk Cloth Manufacturers Association, Surat, (1980) 2 SCR 77: (1980) 2 SCC 31: AIR 1980 SC 387.The definition of 'charitable purposes' in the West Bengal Estates Acquisition Act, 1953 follows, though not quite, the well-known definition of charity given by Lord Macnaghten in Commissioners for Special Purposes of Income Tax v. Pemsel, (1891) AC 531 (583), where four principal divisions were said to be comprised-trusts for the relief of poverty; trusts for ...
Education
Education. Mr. Forster's Elementary Education Act, 1870 (English) (33 & 34 Vict. c. 75), is the starting point in the history of the provision by legislation of a general system of education. Before this date education had been dealt with either as a series of individual problems in respect of which provisions were made for the education of special classes of persons, or by executive, as opposed to legislative methods, as, for example, by a system of grants in aid. This Act was followed by a series of Acts, known collectively as the Education Acts, 1870 to 1919, which together established a system of free and compulsory elementary education of a non-denominational character. The initial Act established 'school boards' with powers of building and maintaining elementary schools and of regulating the attendance of school children between the ages of 5 and 13. The El. Ed. Act, 1876, declared 'the duty of the parent of every child to cause such child to receive efficient elementary educatio...
University
University, an association of learners, and of teachers and examiners of the learners, upon whose report the association grants upon whose report the association grants titles called 'degrees' (such as 'Master of Arts,' 'Doctor of Divinity'), showing that the holders have attained some definite proficiency.The English Universities are those of Oxford, Cambridge (incorporated by 13 Eliz. c. 29, by the two names of the Chancellor, Masters and Scholars of the University of Oxford and Cambridge respectively, with the direction that they shall be called and named by none other name for evermore), Durham, London, Victoria of Manchester, Birmingham, Liverpool, Leeds, Sheffield, Bristol, and East Midland University Nottingham, the graduates of which (see University of Liverpool Act, 1904; (English) University of Leeds Act, 1904; and (English) Sheffield University Act, 1914) have equal statutory privileges and exemptions; and Reading University (see 18 & 19 Geo. 5, c. 25). There is also the Uni...
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