Nominated Member - Law Dictionary Search Results
Limited liability
Limited liability. At Common Law every person is liable, upon his contracts, up to the whole amount of his estate, and every partner is so liable upon all the contracts of the partnership. So extensive a liability being apt to prevent persons from engaging in business as partners, the statutes authorizing the construction of railways, etc., have always limited the liability of each shareholder to the amount of the shares held by him. Similar limitations, extending in some cases to double the amount of shares held, have also long been found (though not universally) in the charters of incorporated banks and insurance companies.Companies Acts.--Under the Companies Acts, limited liability means that the members are not liable beyond the unpaid-up part (if any) of the nominal amount of the shares in respect of which they are registered in the books of the company. When a share has been fully paid up, no further liability exists. As to shares which have not been fully paid up, see CONTRIBUTO...
Chairman
Chairman, 'Chairman' according to the Concise Oxford Dictionary means a person chosen to preside over meetings, e.g., one who presides over the meetings of the Board of Directors. In Black's Law Dictionary, 6th Ed., p. 230, the same expression is defined as a name given to a Presiding Officer of an assembly, public meeting, convention, deliberative or legislative body, board of directors, committee, etc. Similar meanings have been attributed to that expression in Ballentine's Law Dictionary, 3rd Ed., pp. 189-190, Webster's New Twentieth Century Dictionary, Unabridged, 2nd Ed., p. 299, and Aiyer's Judicial Dictionary, 11th Ed., p. 238. The function of the Chairman would, therefore, be to preside over meetings, preserve order, conduct the business of the day, ensure that precise decisions are taken and correctly recorded and do all that is necessary for smooth transaction of business. The nature and duties of this office may vary depending on the nature of business to be transacted but b...
Chiltern Hundreds
A tract of crown land in Buckinghamshire and Oxfordshire England to which is attached the nominal office of steward As members of Parliament cannot resign when they wish to go out they accept this stewardship which legally vacates their seats...
Election
Election, the word 'election' means any and every act taken by the competent authority after the publication of the election notification, Manda Jaganath v. K.S. Rathnam, (2004) 7 SCC 492: AIR 2004 SC 3601 (3604).The act of selecting one or more from a greater number for an office.The exercise of his choice by a man left to his own free will to take or to do one thing or another. It is the obligation imposed upon a person to choose between two inconsistent or alternative rights or claims. Thus, in Scarf v. Jardine, (1882) 7 App Cas 345, the House of Lords held that a customer could not sue a new firm after having elected to sue a retiring partner.Electio semel facta et placitum testatum non patitur regressum. Quod semel placuit in electionibus amplius displicere non potest. Co. Litt. 146, 146 a.--(Elections once made and plea witnessed suffers not a recall. What has once pleased a man in elections cannot displease him on further consideration.) See also Re Simms, Ex p. Trustee, 1934 Ch...
Office of profit
Office of profit, a person who was a Pramukh at the time of filing of nomination papers and who was drawing a honorarium was not holding an office of profit, Umrao Singh v. Yeshwant Singh, AIR 1970 Raj 134 (141). [Constitution of India, Art. 102(1)(a)]It need not be in the service of Government. Generally it is understood that an office means a position to which certain duties are attached. An office of profit involves two elements namely that there should be such an office and that it should carry some remunerations. It is not the same as holding a post under the Government and therefore for holding an office of profit under the Government, a person need not be in the service of the Government, Satrucharla Chandrasekhar Raju v. Vyricherla Pradeep Kumar Devi, AIR 1992 SC 1959: (1992) 4 SCC 404.The word 'office' does not, therefore, necessarily imply that it must have an existence apart from the person, who may hold it. Cases are known, in which, in order to make use of the Special know...
Industrial and Provident Societies
Industrial and Provident Societies. The (English) Statutes regulating these societies, 25 & 26Vict. c. 87, 30 & 31 Vict. c. 117, and 34 & 35 Vict. c. 80, were consolidated by the Industrial and Provident Societies Act, 1876 (39 & 40 Vict. c. 45), which by s. 6 provided for the registration of societies 'for carrying on any labour, trade, or handicraft, in-cluding the buying or selling of land, of which no member shall claim an interest in the funds exceeding 200l.'This Act was repealed and re-enacted with amend-ment by the (English) Industrial and Provident Societies Act, 1893 (56 & 57 Vict. c. 39), which pro-vides for the registration as an industrial and provident society of any society for carrying on any 'industries, businesses, trades specified in or authorized by its rules, whether wholesale or retail, and including dealings of every description with land,' but enacts that no member other than a registered society shall have any interest in the shares exceeding 200l. and contains...
Bonded labour system
Bonded labour system, means the system of forced, or partly forced, labour under which a debtor enters, or has, or is presumed to have, entered, into an agreement with the creditor to the effect than,-(i) in consideration of an advance obtained by him or by any of his lineal ascendants or descendants (whether or not such advance is evidenced by any document) and in consideration of the interest, if any, due on such advance, or(ii) in pursuance of any customary or social obligation, or(iii) in pursuance of an obligation devolving on him by succession, or(iv) for any economic consideration received by him or by any of his lineal ascendants or descendants, or(v) by reason of his birth in any particular caste or community,- he would-(1) render, by himself for through any member of his family, or any person dependent on him, labour or service to the creditor, or for the benefit of the creditor, for a specified period or for an unspecified period, either without wages or for nominal wages, o...
Collective responsibility
Collective responsibility, the concept of collective responsibility is essentially a political concept. The country is governed by the party in power on the basis of the policies adopted and laid down by it in the Cabinet meeting. 'Collective responsibility' has two meanings: the first meaning which can legitimately be ascribed to it is that all members of a government are unanimous in support of its policies and would exhibit that unanimity on public occasions although while formulating the polices, they might have expressed a different view in the meeting of the Cabinet. The other meaning is that Ministers, who had an opportunity to speak for or against the polices in the Cabinet are thereby personally and morally responsible for its success and failure, Common Cause, A Registered Society v. Union of India, (1999) 6 SCC 667 (698): AIR 1999 SC 2977. [Constitution of India, Arts. 75(3), 226 and 32]Is the responsibility of a number of individuals acting together, responsibility of a Cab...
governor
governor : one that governs: as a : one that exercises authority esp. over an area or group b : an official elected or appointed to act as ruler, chief executive, or nominal head of a political unit ;specif : the chief executive of a U.S. state c : the managing director and usually the principal officer of an institution or organization d : a member of a group that controls or directs an institution [the Federal Reserve System's Board of Governors] gov·er·nor·ship n ...
Churchwardens
Churchwardens, anciently styled Church Reeves or Ecclesi' Guardiani, the guardians or keepers of the church, and representatives of the body of the parish; but though in some sort ecclesiastical officers, they are always lay persons. They are a quasi corporation for certain purpose, Withnell v. Gartham, (1795) 6 TR 388 (396), and in the City of London they are a corporation for the purpose of holding lands; but beyond that they are only annual officers, Fell v. Official Trustee of Charity Lands, 1898 (2) Ch 59. They are sometimes appointed by the minister, sometimes by the Vestry and Parochial Church Meeting sitting together (see 11 & 12 Geo. 5 No. 1, s. 13), sometimes by the minister and the meeting together, sometimes one by the minister and another by the meeting, as custom directs. Where there is no custom the election must be according to Canon 89 and s. 13 above, under which they must be chosen by the joint consent of the minister and the meeting, and if they cannot agree, then t...
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