National Trust - Law Dictionary Search Results
will
will 1 : the desire, inclination, or choice of a person or group 2 : the faculty of wishing, choosing, desiring, or intending 3 : a legal declaration of a person's wishes regarding the disposal of his or her property after death ;esp : a formally executed written instrument by which a person makes disposition of his or her estate to take effect after death see also codicil, living will, testament antenuptial will : a will that was executed by a person prior to that person's marriage and is usually revocable by the court if no provision was made for the person's spouse unless an intention not to make such a provision is manifest conditional will : a will intended to take effect upon a certain contingency and usually construed as having absolute force when the language pertaining to the condition suggests a general purpose to make a will counter will : mutual will in this entry holographic will : a will written out in the hand of the testator and accepted as valid in many sta...
Business
Business, 'business' is a word of wide import. It has no definite meaning. Its perceptions differ from private to public sector or from institutional financing to commercial banking, Mahesh Chandra v. Regional Manager Uttar Pradesh Financial Corpn., AIR 1993 SC 935 (939): (1993) 2 SCC 279. [State Financial Corporation Act, (63 of 1951), s. 24]--Business would undoubtedly be property, unless there is something to the contrary in the enactment, J.K. Trust Bombay v. CIT, (1958) SCR 65: 1957 SCJ 845: AIR 1957 SC 846.Business includes the activities carried on by any public body, Halsbury's Laws of England, Vol. 20, 4th Edn., Para 546, p. 357. The term 'business' includes every trade, occupation and profession. The word 'business' has no technical meaning, but is to be read with reference to the subject and intent of the Act in which it occurs. The term 'business' means an affair requiring attention and labour as the chief concern; mercantile pursuits, that one does for livelihood, occupati...
Stock certificates
Stock certificates. By the National Debt Act, 1870, it is provided that a holder of British Government Stock may obtain a stock certificate; that is to say, a certificate of title to his stock or any part thereof, with coupons annexed, entitle in the bearer of the coupons to the dividends on the stock (s. 26); that a certificate shall not be issued in respect of any sum of stock not being 50l., or a multiple of 50l., or exceeding 1000l. (s. 28); that a trustee of stock shall not apply for or hold a stock certificate, unless authorized to do so by the terms of his trust (s. 29); that no notice of any trust in respect of any certificate or coupon shall be receivable (s. 30); that where a stock certificate is outstanding the stock represented thereby shall cease to be transferable in the Bank books (s. 31); that a tock certificate, unless a name is inscribed thereon, shall entitle the bearer to the stock therein described, and shall be transferable by delivery (s. 32). The Act also contai...
stipulate
stipulate -lat·ed -lat·ing [Latin stipulatus, past participle of stipulari to exact (as from a prospective debtor) a formal guarantee when making an oral contract] vi 1 : to make an agreement or covenant about something (as damages) 2 : to demand a particular promise in an agreement used with for [may…assume or for obligations of all kinds "Louisiana Civil Code"] 3 : to agree respecting an aspect of legal proceedings used with to [stipulated to a dismissal of the claim with prejudice "National Law Journal"] [pleaded guilty to the charge of battery and stipulated to the underlying facts "Luna v. Meinke, 844 F. Supp. 1284 (1994)"] vt 1 : to specify esp. as a condition or requirement of an agreement [parties may not the invalidity of statutes or ordinances "West v. Bank of Commerce & Trusts, 167 F.2d 664 (1948)"] [the contract stipulated that the lessor was responsible for maintenance] [within a stipulated period of time] 2 : to establish (procedure or evidence...
Entrustment
Entrustment, means 'the transfer of possession of goods to a merchant who deals in goods of that type and who may in turn transfer the goods and all rights to them to a purchaser in the ordinary course of business' (Black's Law Dictionary), see also National Insurance Co. Ltd. v. Ishar Das Madan Lal, (2007) 4 SCC 105.The expression 'entrustment' carries with it the implication that the person handing over any property or on whose behalf that property is handed over to another, continues to be its owner. Entrustment is not necessarily a term of law. It may have different implications in different contexts. In its most general significance, all its imports is handing over the possession for some purpose which may not imply the conferment of any propriety right therein. The ownership or beneficial interest in the property in respect of which criminal breach of trust is alleged to have been committed, must be in some person other than the accused and the latter must hold it on account of s...
board
board often cap 1 a : a group of individuals having managerial, supervisory, investigatory, or advisory powers over a public or private business, trust, or other organization or institution [Board of Regents] [Board of Bar Overseers] b : board of directors 2 a : a group of citizens elected to administer the business of or an aspect of the business of a political unit (as a town or county) [a of selectmen] b : a federal, state, or local government agency see also National Labor Relations Board in the Important Agencies section 3 : a securities or commodities exchange see also board of trade ...
confidential
confidential 1 : known or conveyed only to a limited number of people [a disclosure] 2 : marked by or indicative of intimacy, mutual trust, or willingness to confide esp. between parties one of whom is in a position of superiority [the relationship of doctor and patient] 3 : containing information whose unauthorized disclosure could be prejudicial to the national interest con·fi·den·ti·al·i·ty [kÄ n-fi-den-chē-a-lə-tē] n con·fi·den·tial·ly adv ...
Curtesy of England
Curtesy of England [jus curialitatis Angli', Lat.], an estate which by favour of the law of England arises by act of law, and is that interest which a husband has for his life in his wife's fee-simple or fee-tail estates, generalor special, aftr her death.Tenancy by the curtesy has been abolished by the (English) A.E. Act, 1925, s. 45, with regard to the inheritance of every person dying after 1925, but undr s. 130, (English) L.P. Act, 1925, curtesy will arise as an equitable interest in any property realor personal as an incident to an equitable intrest in-tail and in default of a disentailing assurance or the exercise of the testamentary power conferred by that Act, see sub-s. 4 ibid., and see the 12th Schedule to the (English) L.P. Act, 1922, in regrd to enfranchised copyholds.There are six circumstances necessary to the existence of this estate (which appears to be unaffected by the (English) Married Women's Property Act, 1882):--(1) A canonicalor legal marriage.(2) Seisin of the w...
Double insurance
Double insurance takes place when the assured makes two or more insurances on the same subject, the same risk, and the same interest. The assured may recover the amount of his actual loss against any of the insurers, but nothing beyond this, and if he obtains full satisfaction from one of the assurers, the latter is entitled to contribution from the others. Excess of indemnity received by the assured is held by him in trust for the assurers. Double insurance is therefore entirely different from re-insurance, which is effected by the underwriter to secure himself from a loss. Double insurances are not prohibited by the law maritime unless fradulently made; see Arnould on Marine Insurance, 8th Edn. P. 430; the Marine Insurance Act, 1906, ss. 32, 80; Newby v. Reid, (1763) 1 W Bl 416.Double insurance is prohibited under the (English) National Health Insurance, Old Age, and Widows, etc., (English) Contributory Pensions Act, 1936....
High public or political office
High public or political office, the term 'high public or political office' used in the Special Courts Act, 1979 contemplates only a special class of officers or politicians who may be categorised as follows:(1) officials wielding extraordinary powers entitling them to take major policy decisions and holding positions of trust and answerable and accountable for their wrongs;(2) persons responsible for giving to the state a clean, stable and honest administration;(3) persons occupying a very elevated status in whose hands lies the destiny of the nation, State (Delhi Administration) v. V.C. Shukla, AIR 1980 SC 1382 (1411): (1980) Supp SCC 249: (1980) 3 SCR 500. (Special Courts Act, 1979, Preamble)...
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