Net Sales - Law Dictionary Search Results
Home Dictionary Name: net salesnet sales
net sales Total sales of a business minus discounts, returns and pricing adjustments ...
net profit before taxes
net profit before taxes Net sales or total receipts of a business minus all expenses except taxes ...
gross profit
gross profit Net sales minus the cost of goods sold ...
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 ...
Statutory trusts
Statutory trusts. for the purposes of the (English) Law of Property Act, 1925, land held upon 'statutory trusts' shall be held upon trust for sale and to stand possessed of the net proceeds of sale after payment of costs and net rents and profits until sale subject to rates, taxes, and cost of insurance, repairs, and other outgoings, upon trust for the persons entitled under the settlement, including incumbrancers of former undivided shares, or not secured by a legal mortgage, and where an undivided share was subject to a settlement and the settlement remains subsisting in respect of other property and the trustees of the settlement are not the same persons as the trustees for sale the settled portion of the proceeds of sale is to be handed over to the settlement trustees as capital money under the (English) Settled Land Act, 1925 (s. 35 of the Law of Property Act, 1925). By s. 25, (English) L.P. Act, 1925, the trustees have power to postpone the sale unless a contrary direction appear...
Undivided shares in land
Undivided shares in land. Before 1926 a legal estate in undivided shares in land was held by joint tenants, tenants in common, coparceners, and by husband and wife as tenants by entireties (see those titles), but now by the Law of Property Act, 1925, s. 1 (6), a legal estate is not capable of subsisting or of being created in an undivided share inland, and by the same s. 1 (3) and ss. 34 (4), 205, and 1st Sch., Part IV., and cf. TRUST FOR SALE, such shares are to take effect as equitable interests only in the net proceeds of sale and of the rents and profits of the entirety of the land until sale, while the legal estate must be held by trustees for sale of the entire undivided property. It should be noticed that shares only are affected by these provisions. The legal estate in the joint tenancy in the entirety of the trustees for sale persists ex necessitate rei, and this is given effect to by s. 36, as amended, prohibiting severance of the legal estate in joint tenancy and providing f...
Main Pot
Main Pot : a step in calculating tax liability under Internal Revenue Code section 1231 in which all qualified transactions are netted to determine if the result is a loss or gain called also Big Pot Hodge Podge hotchpot; compare casualty pot NOTE: The transactions netted in the Main Pot are as follows: casualties in the Casualty Pot if they have netted a gain; sales, exchanges, or condemnations of depreciable or real property used in a business for more than one year; and condemnations of capital assets held for more than one year in connection with a trade or business or transaction entered into for profit. If the net result is a gain, then the transactions are treated as long-term capital gains and losses. ...
Partition
Partition, is mitakshara 'partition' may be only severance of the joint status of the members of the coparcenary, that it to say, what was once a joint title has become a divided title though there has been no division of any properties by metes and bounds, Nani Bali v. Gita Bai Kom Rama Gunge, AIR 1958 SC 706. See also Jalaja Shethi v. Lakshmi Jalaja Shethi, AIR 1973 SC 2658.Includes both division of states as well as division of meats and bounds, Sundara v. Girija, AIR 1962 Mys 72.Is the determination of shares of the coparceners in the joint family. Actual division of the property by metes and bounds is not necessary to constitute partition, Girija Nandi Devi v. Bijendra Narain Chowdhary, AIR 1967 SC 1124: (1967) 4 SCD 501.Partition, signifies a surrender of a portion of the joint rights in exchange for a similar right from the co-sharer, Rasa v. Arunachala, AIR 1932 Mad 577.Partition, the act of dividing.Before 1926 all co-owners of land might make partition, and coparceners were c...
listing
listing 1 : an arrangement, agreement, or contract for the marketing of real property through one or more real estate agents usually for a specific period called also listing agreement exclusive agency listing : a listing under which only one agent may sell the property but without the right to a commission if the owner sells it directly NOTE: An agent is usually still entitled to a commission if the owner sells directly to a buyer who was introduced into the process by the agent, even if the sale occurs after the agreement expires. exclusive right to sell listing : a listing under which only one agent may sell the property and is entitled to a commission if the owner sells it directly to any party multiple listing : an agreement or arrangement under which real property is marketed through a service or association composed of several agents with a commission from the sale of a property shared between the selling agent and the agent that initiates the listing of it net listing ...
Uses
Uses (History). A use is the intention or purpose, express or implied, upon which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery of seisin, which was performed openly and in the presence of the people of the locality.It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people.Hence ingenuity was sharpened to hit upon a device which should set at nought the rigidity of existing law and formalities.A system was found by the monastic jurists upon a model furnished by the Civil Law, which, by a nice adaptation, evaded, without overturning, the Common Law. Two methods of transferring realty began to co-exist in this country-the ancient Common Law system, and the later invention, which is denomi...
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