Outstanding Term - Law Dictionary Search Results
Home Dictionary Name: outstanding termOutstanding term
Outstanding term, a term in gross at law, which, in equity, may be made attendant upon the inheritance, either by express declaration or by implication. See the (English) Satisfied Terms Act, 1845, extended by the (English) Law of Property Act, 1925, s. 5, and 1st Sched., Part II., par. (1), to outstanding terms out of leaseholds and vesting the outstanding terms in the immediate reversion; for the law before 1926, see Re Moore and Helm, (1912) 2 Ch 105, and for conditions of sale. [see Law of Property Act, 1925, s. 42 (3)]...
Term in gross
Term in gross. A term which would have been attendant on the inheritance if it had been assigned by a purchaser of settled land to a trustee for himself, and while outstanding and not merged it was kept in existence upon an implied trust for the parties entitled according to their estates and interests, Halsb. L.E., title 'Real Property,' etc. See ATTENDANT TERM; OUTSTANDING TERM....
Satisfied Terms Act
Satisfied Terms Act (English) (8 & 9 Vict. c. 112). See OUTSTANDING TERMS....
Attendant term
Attendant term. Terms for years in real property are created for many purposes, e.g., to furnish money for the payment of debts, to secure rent charges or jointures, to raise portions for younger children, daughters, etc. Now, although the purpose for which the term was originally created has been satisfied or has failed, yet, not being surrendered, it continued to exit, the legal interest remaining in the trustees, to whom it was at its creation limited, or, if deceased, in their personal representatives; but the person entitled to the inheritance then became, according to equitable principle, entitled to the beneficial interest in such term, and the term or was held to be such person's trustee. This beneficial interest was subordinate to and merely attendant upon the higher estate possessed by the owner of the inheritance, and yet completely consolidated with it, following the inheritance in all the various modifications and changes to which it might be subjected by act of law or arr...
Outstanding amount
Outstanding amount, the expression 'outstanding' in s. 2(m)(iii)(a) and (b) will have to be construed in the background of the phrase 'amount of tax..........payable in consequence of an order' and in that context it must mean remaining unpaid after the obligation to pay is incurred, CWT v. J. K. Cotton Manufacturing Ltd., AIR 1984 SC 946 (952): (1984) 3 SCC 393. [Wealth Tax Act, 1957 s. 2(m)(iii)(a) & (b)]...
outstanding
outstanding 1 : not paid [had several debts] 2 : publicly issued and sold [a million shares ] ...
Outstanding
That stands out undischarged uncollected not paid as outstanding obligations...
Terms
Terms, the periods during which the superior courts at Westminster were open.The legal year consists of four terms: Michaelmas, Hilary, Easter, and Trinity (which see), the year beginning with Michaelmas Term.The commencement and duration of the terms were fixed by 11 Geo. 4 & 1 Wm. 4, c. 70, s. 6, and 1 Wm. 4, c. 3, s. 3. By the first of these enactments Hilary Term began on the 11th and ended on the 31st of January; Easter Term began on the 15th of April and ended on the 8th of May; Trinity Term began on the 22nd of May and ended on the 12th of June; and Michaelmas Term began on the 2nd and ended on the 25th of November. Vacations in the Equity Courts were regulated also by Cons. Ord. V.By the (English) Judicature Act, 1873, s. 26, now repealed, it was provided that the division of the legal year into terms should be abolished so far as relates to the administration of justice. But in all other cases in which, under the law previously existing, the terms into which the legal year is ...
Term loan
Term loan, means loan advanced for commercial loans, State Bank of Patiala v. Harbans Singh, (1994) 3 SCC 495.The expression 'term loan' is well understood in banking parlance. The expression implies the grant of loan for a fixed term. It has no relevance with the purpose for which loan is granted. Where the terms for repayment is long, the loan is called 'long term loan' and where the term exceeds one year but not five to seven years, it is commonly known as 'medium term loan, Canara Bank v. P.N.R. Upadhyaya, AIR 1998 SC 3000: (1998) 6 SCC 526....
Term of years absolute
Term of years absolute, defined for the purposes of the (English) Law of Property Act, 1925, s. 205 (1) (xxvii.), as a term of years in possession or reversion whether or not at a rent with or without impeachment for waste, subject or not to another legal estate and either certain or liable to deter-mination by notice, re-entry, operation of law, or by a provision for cesser of redemption or in any other event (other than the dropping of a life or the determination of a determinable life interest, but does not include any term of years determinable with life or lives or with the cesser of a determinable life interest, nor if created after 1925 a term of years which is not expressed to take effect in possession within twenty-one years where required by the Act to take effect within that period (i.e., leases at a rent or in considation of a fine and not being leases of a reversion on a term, see s. 149 of the Act); and in that definition, term of years includes terms for less than years ...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial