Pair Or Set Clause - Law Dictionary Search Results
Home Dictionary Name: pair or set clausepair-or-set clause
pair-or-set clause : a provision in an insurance policy giving the insurer the option in the case of loss of fewer than all items in a set to restore the set to its value before the loss or pay the difference between the value before and after the loss ...
penalty clause
penalty clause 1 : a clause (as in a contract) that calls for a penalty to be paid or suffered by a party under specified terms (as in the event of a breach) and that is usually unenforceable NOTE: A penalty clause differs from a liquidated damages clause by not being tied to an estimate of possible actual damages. 2 : a clause in a statute or judgment that sets forth a penalty for a specific act or omission (as failure to make a support payment on time) ...
Set up
Set up, means a unit cannot be said to have been set up, unless it is ready to discharge the function for which it is being set up. It is only when the unit has been put into such a shape that it can start functioning as a business or a manufacturing organization that it can be said that the unit has been set up. The word 'set up' in the principal clause is equivalent to the word established, CWT Madras v. RS Cotton Mills, AIR 1967 SC 509: (1967) 1 SCJ 123: (1967) 1 ITJ 1: (1967) 1 Andh WR (SC) 25: (1967) 1 Mad LJ (SC) 25: (1967) 63 ITR 478....
Set up and established
Set up and established, the word 'set up' in clause (xxi) of s. 5(1) of the Wealth Tax Act, 1957, is equivalent to the word 'established', but operations for establishment cannot be equated with the establishment of the unit itself or its setting up, Commissioner of Wealth Tax v. Rama Raju Surgical Cotton Mills Ltd., AIR 1967 SC 509 (511): (1967) 1 SCR 761....
attestation clause
attestation clause : a clause at the end of a will in which the witnesses state that the will was signed and witnessed with all the formalities required by law and which often sets forth those requirements ...
conversion clause
conversion clause a provision in some ARMs allowing it to change to a fixed-rate loan at some point during the term. Usually conversions are allowed at the end of the first adjustment period. At the time of the conversion, the new fixed rate is generally set at one of the rates then prevailing for fixed rate mortgages. There may be additional cost for this clause. Source: U.S. Department of Housing and Urban Development ...
incontestability clause
incontestability clause : a clause in an insurance policy that forbids the insurer from disputing the policy (as on the ground that the insured made false statements) after a set period of time ...
insuring clause
insuring clause : a clause in an insurance policy that sets out the risk assumed by the insurer or defines the scope of the coverage afforded ...
memorandum clause
memorandum clause : a clause in a marine insurance policy setting forth exclusions or special terms for loss or damage to particular cargo ...
base pair
a unit of double stranded DNA or RNA consisting of two complementary bases on opposing strands of the double stranded polynucleotide bound together by hydrogen bonds and other non covalent chemical forces The bases comprising the base pairs are adenine thymine cytidine and guanine In normal DNA the base adenine on one strand of DNA pairs with thymine on the opposite strand and cytosine on one strand pairs with guanine on the opposite strand The term base pair usually includes the sugar ribose or deoxyribose and the phosphate bound to each base to form a nucleotide unit One base pair is sometimes used as a unit of length or size for DNA and in this usage is abbreviated bp as a 100 bp fragment of DNA A length of 1000 base pairs is a kilobase pair or kbp...
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