Paid Up - Law Dictionary Search Results
Home Dictionary Name: paid up Page: 2 Page 2 of about 60 results (0.004 seconds)Preferential payments
Preferential payments, in bankruptcy, administra-tion of estates of persons dying insolvent, and winding up of a company:-One year's rates and taxes, four months' salaries of clerks up to fifty pounds, and two months' wages of labourers or workmen, up to twenty-five pounds (labourers in husbandry paid partly in a lump sum at the end of the year of hiring to have the whole or proportionate part of that sum). Also sums due under the Workmen's Compensation Acts, the National Insurance Acts (Health and Unemployment and Contributory Pensions). These debts rank equally between them unless the assets are insufficient, in which case they are to abate in equal proportions. By the (English) Bankruptcy Act, 1914 (see s. 34), the preference was extended to apprentices. See the (English) Bankruptcy Act, 1914, s. 33, and the (English) Companies Act, 1929, s. 264, by which these debts are directed to be paid in priority to all others; and by s. 264 (4) (b) of the Companies Act, 1929, these debts are ...
discount point
discount point normally paid at closing and generally calculated to be equivalent to 1% of the total loan amount, discount points are paid to reduce the interest rate on a loan. In an ARM with an initial rate discount, the lender gives up a number of percentage points in interest to give you a lower rate and lower payments for part of the mortgage term (usually for one year or less). After the discount period, the ARM rate will probably go up depending on the index rate. Source: U.S. Department of Housing and Urban Development ...
fund
fund 1 : a sum of money or other resources whose principal or interest is set aside for a specific objective cli·ent security fund : a fund established by each state to compensate clients for losses suffered due to their attorneys' misappropriation of funds common trust fund : an in-house trust fund established by a bank trust department to pool the assets of many small trusts for greater diversification in investing executor fund : a fund established in estate planning to provide for the payment of final expenses by an executor joint wel·fare fund : a fund that is established by collective bargaining to provide health and welfare benefits to employees and that is jointly administered by representatives of labor and management paid-in fund : a reserve cash fund in lieu of a capital stock account set up by mutual insurance companies to cover unforeseen losses sink·ing fund : a fund set up and accumulated by regular deposits for paying off the principal on a debt...
Clearing
Clearing, a among London bankers a method adopted by them for exchanging the drafts of each other's houses, and settling the difference. At fixed hours, each day, a clerk from each banker attends at the clearing-house, bringing all the drafts on the other bankers which have been paid into his house during the day, and delivers to each of the other clerks the obligations he has against his house, receiving from each the obligations due from his own. Balances are struck at the end of the day, the clerk to the Clearing House making up the accounts between each bank. The balances are not paid to or received from the other bankers as formerly, but are settled with the Clearing House, which keeps an account itself at the Bank of England. There is also a Country Clearing House. Consult McLeod on Banking; Grant's Law of Banking, 6th Edn. P. 66.Maritime law. The departure of a ship from port after complying with customs, health laws and other local regulations, Black's Law Dictionary,7th Edn., ...
Contribution
Contribution, to any fund shall not include any sums in repayment of loan. [Income-tax Act, 1961 (43 of 1961), s. 80C(8)(ii)]Means the sum of money payable to the corporation by the principal employer in respect of an employee and includes any amount payable by or on behalf of the employee in accordance with the provisions of this Act. [Employees' State Insurance Act, 1948 (34 of 1948), s. 2(4)]The word 'contribution' used in the proviso must also be given its due meaning. It cannot be understood as donations. If that be so, a voluntary contribution cannot amount to a compulsive donation. If the donor, in order to gain an advantage or benefit, if he apprehends that but the contribution some adverse consequence would follow, makes a donation certainly it ceases to be voluntary, Municipal Corpn. of Delhi v. Children Book Trust, AIR 1992 SC 1456 (1472): (1992) 3 SCC 390. [Delhi Municipal Corporation Act, 1957, (66 of 1957), s. 115(4)(a), Proviso]The performance by each of two or more pers...
Calendar
Calendar [fr. Calendarium, Lat.; fr. Calend', the first day in the month in Roman reckoning], the order and series of months, together with the festivals and fasts, which make up the year. There are two modes of computing time-by the annual course of the sun, and by the periodical revolutions of the moon. The solar year consists of 365 days, 5 hours, 48', 45', 30'; the lunar year of 354 days, 3 hours, 48', 38', 12'. The Mohammedans adopt the lunar year. The solar year, calculated by the ancient Egyptians, has undergone various corrections and denominations.The chief of the calendars now in use are the three following: (1) The Julian, so called because Julius C'sar introduced into the Roman Empire the solar or Egyptian year, instead of the lunar year. The Russians and Greeks are the only nations that now use the Julian year. The common Julian year consists of 365 days, and the bissextile or leap-year (see that title), which returns every four years, of 366 days. This computation is faul...
Tariff
Tariff [Span.], a cartel of commerce, a book of rates, a table or catalogue, drawn up usually in alphabetical order, containing the names of several kinds of merchandise, with the duties or customs to be paid for the same, as settled by authority or agreed on between the several States that hold commerce together.The Customs Tariff Act, 1876, consolidated the then Customs Duties, and some of the duties imposed by that Act are still in force.In 1932 there was a change in the fiscal policy of this country. By the Import Duties Act, 1932 (22 Geo. 5, c. 8), a general ad valorem customs duty of 10 per cent. was imposed on all imports with additional duties on special classes or descriptions of goods. But imports from Dominions were subject to special agreements and the Ottawa Agreements. The 1932 Act set up an Advisory Committee to make recommendations to the Treasury as to additional customs duties. Since this Act several further duties have been imposed. See CUSTOMS.The word 'tariff' has ...
basis
basis pl: ba·ses [-sēz] 1 : something (as a principle or reason) on which something else is established [the court could not imagine any conceivable for the statute] see also rational basis 2 : a basic principle or method ;esp : the principle or method by which taxable income is calculated NOTE: The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer. ac·cru·al basis : a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made called also accrual method cash basis : a method of accounting in which income and expenses are recorded in the period when payment is received or made called also cash method 3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for inc...
Ballastage
A toll paid for the privilege of taking up ballast in a port or harbor...
Dribblet
A small piece or part a small sum a small quantity of money in making up a sum as the money was paid in dribblets...
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