Open Contract - Law Dictionary Search Results
Home Dictionary Name: open contract Page 1 of about 1,090 results (0.005 seconds)Open contract
Open contract, a complete contract of which the meaning admits the implications of law without special conditions, or except so far as such conditions may modify these implications, as a contract to sell land without mentioning the day for completion of the purchase, or without stipulations as to title or otherwise. See Vendor and Purchaser Act, 1874, ss. 1, 2; Conveyancing Act, 1881, s. 3, reproduced with amendments by ss. 44 and 45, Law of Property Act, 1925. See CONTRACT FOR SALE OF LAND....
Measure of damage
Measure of damage, the test which determines the amount of damages to the given. The general rule in English law is that in contract the measure of damage is the actual loss to the plaintiff, and in tort the compensation to the plaintiff for the loss or damage which it may be supposed be has suffered directly as a natural consequence of the act complained of. The exception is those ases where vindictive or exemplary damages can be given, e.g., libel, slander, violence, malice, cruelty, or breach of promise of marriage. The actual loss cannot always be recovered, as the whole or a portion of the loss may be too remote to be the natural and probable consequence of that which constitutes the cause of action, and this will most frequently occur in actions of tort. Though unable to prove actual loss, a plaintiff may sometimes be entitled to nominal damages, e.g., breach of an agreement to lend money. In actions of contract, the market-price of the subject-matter at the date the contract is ...
Contract for sale of land
Contract for sale of land. The incidents of a contract for sale of land re regulated partly by statute and partly by the practice of conveyancers. A contract for sale of land must be in writing, (English) L.P. Act, 1925, s. 40. See FRAUDS, STATUTE OF. If the contract is a simple, unconditional, or open contract for sale of land, it is implied that the vendor is to make a good title to the land for an estate in fee simple free from incumbrances, Hughes v. Parker, 8 M & W 344. He is under an obligation to show a good title (in ordinary circumstances for the thirty years preceding the date of contract, see ABSTRACT), and to prove that title by sufficient evidence. the expenses of showing the title, i.e., the abstract, falls on the vendor and so also the expenses of production of material documents in his possession or in that of his trustees an mortgagees. The expenses of production for verification of those which are not in such possession are to be borne by the purchaser, (English) L.P....
Rescission
Rescission, annulment or destruction. A general term for the repudiation and annulment of any contract or transaction: see (English) Sale of Goods Act, 1893. A contract for the sale of real estate very commonly contains a power for the vendor to rescind the contract if the purchaser makes or insists upon any objection or requisition which the vendor is unable or unwilling to comply with; but see ss. 42 and 45 of the Law of Property Act, 1925, precluding the vendor from rescinding in certain cases, and this facility will not assist the vendor in case of a serious defect in title or substantial mis-representation, see Re Hardick Co. v. Lipski, (1901) 2 Ch 666. Where a purchaser rescinds under a power in the contract he has a lien for his deposit, Whitbread & Co. v. Watt, (1902) 1 Ch 835, but before 1926 the purchaser in the absence of mis-representation was precluded from recovering his deposit if he chose to rescind upon an objection which he was precluded by statute from taking under a...
Contract of option
Contract of option, is one whereby the grantor of the option offers to enter into what may be called a 'major' contract with a second person and makes a separate contract to keep his offer open, Varty v. British South Africa Co., (1965) 1 Ch 508 (522)....
fail
fail 1 : to be or become inadequate or unsuccessful esp. in fulfilling certain formal requirements [even though one or more terms are left open a contract for sale does not for indefiniteness "Uniform Commercial Code"] 2 : to become bankrupt or insolvent vt : to leave undone or neglect to do [ to appear in court] [ to read a contract] ...
derivative
derivative : a contract or security that derives its value from that of an underlying asset (as another security) or from the value of a rate (as of interest or currency exchange) or index of asset value (as a stock index) NOTE: Derivatives often take the form of customized contracts transacted outside of security exchanges, while other contracts, such as standard index options and futures, are openly traded on such exchanges. Derivatives often involve a forward contract. adj 1 : arising out of or dependent on the existence of something else compare direct 2 : of, relating to, or being a derivative [a transaction] de·riv·a·tive·ly adv ...
open
open 1 : exposed to general view or knowledge : free from concealment [an , notorious, continuous, and adverse use of the property] [an and obvious danger] NOTE: When a defect, hazard, or condition is open such that a reasonable person under the circumstances should have recognized the danger posed by it, a defendant is usually relieved of liability for failure to warn. 2 : not restricted to a particular group or category of participants ;specif : enterable by a registered voter regardless of political affiliation [an primary] 3 a : being in effect or operation [an mine] [a bench warrant still ] b : available for use [an toll road] c : not finally determined, decided, or settled : subject to further consideration [an question] d : remaining effective or available for use until canceled [an insurance contract] 4 : not repressed or regulated by legal controls [a state with gambling] vb opened open·ing vt 1 : to begin the process of [ the succession] 2 a : to make the...
open perils
open perils : of, relating to, or being an insurance contract that covers all perils unless specifically excluded ...
Upto
Upto, a particular date, means that the particular date is the one up to which the state of account has been ascertained, income-tax assessed up to a particular date is not confined to the tax actually assessed before that date, but includes all assessed tax up to that date, whether the assessment was made before or after the date, Gowers v. Walker, (1930) 1 Ch 262.Upto, may include the last day or may not, and if it is in consonance with justice to interpret it in one of the ways permissible, there can be no complaint on the other side, Musharraf Hussain v. Agha Munawar Ali Khan, 186 IC 881: AIR 1940 Lah 7: 186 IC 881.Upto, Wednesday in a contract means that the offer remains open until midnight of Wednesday, Metropolitan Engineering Works v. Debramer, 45 Cal 481....
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