Ordinary Loss - Law Dictionary Search Results
Home Dictionary Name: ordinary loss Page: 2Salvage
Salvage, allowance or compensation made by maritime law to those by whose exertions ships or goods have been saved from the dangers of the seas, fire, pirates, or enemies.This was allowed by the laws of Rhodes, Oleron, and Wisby, and is also allowed by all modern maritime states; the person who saves goods from loss or imminent peril has a lien upon them, and may retain them till payment of salvage. In this, however, the maritime law differs from the Common Law. No doctrine similar to 'salvage' applies to things lost upon land, nor to anything except ships or goods in peril at sea, Falcke v. Scottish Imperial Insurance Co., (1886) 34 Ch D 248, per Bowen, L.J.If the salvage be performed at sea, or on land (Judic. Act, 1925, s. 22), the Court of Admiralty has jurisdiction, and fixes the sum to be paid, adjusts the proportions, and takes care of the property pending the suit; or, if necessary, directs a sale and divides the proceeds between the salvors and the proprietors. In fixing the r...
Abatement
Abatement, a making less:-(1) Abatement of Freehold.-The title of a real action which has been abolished. This takes place where a person dies seised of an inheritance, and before the heir or devisee enters, a stranger, having no right, makes a wrongful entry and gets possession of it. Such an entry is technically called an abatement, and the stranger an abater. It is, in fact, a figurative expression, denoting that the rightful possession or freehold of the heir or devisee is overthrown by the unlawful intervention of a stranger. Abatement differs from intrusion, in that it is always to the prejudice of the heir or immediate devisee, whereas the latter is to the prejudice of the reversioner or remainder man: and disseisin differs from them both, for to disseise is to put forcibly or fraudulently a person seised of the freehold out of possession, Co. Litt. 277a.(2) Abatement of Nuisances.-A remedy allowed by law to a person injured by a nuisance to remove or put an end to it by his own...
Maritime lien
Maritime lien, is well defined to mean a claim or privilege upon a thing to be carried into effect by legal process, that process to be a proceeding in rem ...... This claim or privilege travels with the thing into whosoever possession it may come. It is inchoate from the moment the claim or privilege attaches, and when carried into effect by legal process by a proceeding in rem, relates back to the period when it first attached, Bold Buccbugh, The (1852) 7 Moo PCC 267: (1843-60) All ER Rep 125.A maritime lien is a claim which attaches to the res i.e., the ship, freight, or cargo. It may arise ex delicto, e.g., compensation for damage by collision, or ex contractu, for services rendered to the res; but it is strictly confined to services such as salvage, supply of necessaries to the ship, and seamen's wages, and the courts show no tendency to extend the privilege (see The Ripon City, 1897, P. 226). Thus for ordinary work done upon a ship, such as repairs, there will be no maritime lien...
life insurance
life insurance : insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance ordinary life insurance : whole life insurance in this entry straight life insurance : whole life insurance in this entry term life insurance : life insurance that provides coverage for a set term and does not accumulate cash surrender value universal life insurance : life insurance characterized by flexible premiums, benefits, and payment schedules, by the indexing of cash value to money market interest rates, and by the periodic reporting of current value and company costs charged to the account universal variable life insurance : variable universal life insurance in this entry variable life insurance : life insurance in which all or part of the cash value of the policy is located in a tax-deferred investment portfolio with risk assumed by the insured for investment losses compare variable annuity at annuity variable univer...
malpractice
malpractice : negligence, misconduct, lack of ordinary skill, or a breach of duty in the performance of a professional service (as in medicine) resulting in injury or loss ...
Agricultural Holdings Act, 1923
Agricultural Holdings Act, 1923 (English) (13 & 14 Geo. 5, cc. 9 and 25). By a series of statutes commencing with the Agricultural Holdings Act, 1875, statutory compensation has been provided for an outgoing agricultural tenant in respect of the improvements effected by him during his tenancy. The operation of this Act could be and frequently was excluded by agreement, but now the tenant cannot deprive himself by contract of the right to claim compensation which is conferred on him by the Act, although he may within limits substitute other benefits by agreement. The Act of 1923 (as amended by the Agricultural Holdings Amendment Act, 1923) repeals and consolidates all the earlier statutes dealing with the subject, and confers on outgoing tenants of 'holdings' the rights and benefits briefly outlined below. The term 'holding' means any parcel of land held by a tenant which is wholly agricultural or wholly pastoral, or in whole or in part cultivated as a market garden, and which is not le...
Assumpsit
Assumpsit [he undertook] (to pay or perform) as set forth of the defendant by the plaintiff in the ancient pleading. The action of assumpsit (which, as a technical name, fell into desuetude with the passing of the Judicature Acts, 1873 and 1875, and is now generally superseded by the term 'action for breach of contract') was an action on the case, grounded originally on damages for breach of a promise; it lies for the recovery of damages for loss or injuries sustained by reason of the breach or non-performance of a promise, either express or implied, not under seal, but founded on a proper consideration. See PLEADING.The ordinary division of this action was into (1) common or indebitatus assumpsit, brought for the most part on an implied promise; and (2) special assumpsit, founded on an express promise, Steph. Plead., 7th ed., 11, 13....
Larceny
Larceny [fr. larcin, Fr.; latrocinium, Lat.], contracted from latrociny, the unlawful taking and carrying away of things personal, with intent to deprive the rightful owner of the same. Larceny is a felony, and is either simple or accompanied with circumstances of aggravation:(1) Simple larceny at Common Law, or plain theft. To constitute the offence there must be an unlawful taking, which implies that the goods must pass from the possession of a true owner (including one who has a qualified property only in the goods, as a bailee), and without his consent; where there is, then, no change of possession, or a change of it by consent, or a change from the possession of a person without title to that of the true owner, there cannot be a larceny. As to the difference between property parted with by the owner of his own free will, however fradulently influenced, in other words, between property 'entrusted' and 'possession by a trick,' see Oppenheimer v. Frazer, (1907) 2 KB 50, and Lake v. S...
Perils of the sea
Perils of the sea, means perils, dangers and accidents of the sea or other navigable waters is an expression meaning perils, or accidents peculiar to sea or navigable waters, which could not have been reasonably foreseen and guarded against by ordinary skill and prudence by carrier or his agents or servants, Collis Line Pvt. Ltd. v. New India Assurance Co. Ltd., AIR 1982 Ker 127.They are strictly the natural accidents peculiar to the water, but the law has extended this phrase to comprehend events not attributable to natural causes, as captures by pirates, and losses by collision, where no blame is attachable to either ship, or at all events to the injured ship. It was held by the House of Lords in Hamilton, Fraser & Co. v. Pandorf & Co., (1887) 12 App Cas 518, that, where (under a charter-party or bills of lading which excepted dangers and accidents of the seas'), rats gnawed a hole in a pipe on board ship, whereby sea-water escaped and damaged a cargo of rice, without neglect or defa...
Reserve
Reserve, the term 'reserve' is not defined in the Act. The dictionary meaning of the word 'Reserve' is: To keep for future use or enjoyment; to store up for some time or occasion; to refrain from using or enjoying at once. To keep back or hold over to a later time or place or for further treatment. To set apart for some purpose or with some end in view; to keep for some use. To retain or preserve for certain purposes.' (Oxford Dictionary). In Webster's New International Dictionary, Second Edition, page 2118, 'Reserve' is defined as follows:To keep in store for future or special use; to keep in reserve; to retain, to keep, as for oneself. To keep back; to retain or hold over to a future time or place. To preserve, Commissioner of Income Tax v. Century Spinning and Manufacturing Co., AIR 1953 SC 501: (1954) SCR 203.(ii) As to what the word 'Reserves' as used in the Business Profits Tax Act connotes, was considered by this Court in Commissioner of Income-tax v. Century Spinning & Manufact...
- << Prev.
- Next >>