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Annuity

Act, 1957, s. 2(e)(iv)] An annuity is a fixed sum payable annually either in perpetuity or for any less period. When

note

bank note : a promissory note issued by a bank payable to bearer on demand but without interest and circulating as

Capacity payment

of gas won from an oil field which (1) is payable by the buyer at specified times or in respect of

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Commission, the promoter's

prize in the competitions; (2) the aggregate pool betting duty payable in respect of the competitions; and (3) the expenses of

Contingent legacy

first case as in a bequest to be paid or payable to A. when he shall attain twenty one years, the

Corporation Tax

any tax on income, so far as that tax is payable by companies and is a tax in the case of

Interest

apply in relation to any debt upon which interest is payable as of right whether by virtue of any agreement or

Passive debt

without agreement between the debtor and creditor, no interest is payable, as distinguished from active debt, i.e., a debt upon which

Land holder

interest in land means a person to whom rent is payable, and by legal fiction it shall include his predecessor-in-interest as

Legacy

legacy be bequeathed to a person to be paid or payable at the age of twenty-one, or any other age or

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