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note

debt ;specif : promissory note in this entry bank note : a promissory note issued by a bank payable to bearer on demand but without interest and circulating as money cog·no·vit note [kÄ g-nō-vit-, kōg-] : a

Due

debt is said to be due the instant that it has existence as a debt; it may be payable at a future time. Due, normally refers to an amount which the creditor has a right to recover,

Costs

and solicitors, for their fees, etc. Costs in actions are either between solicitor and client, being what are payable in every case to the solicitor by his client, whether he ultimately succeed or not; or between party

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Corporation Tax

Corporation Tax, 'corporation tax' means any tax on income, so far as that tax is payable by companies and is a tax in the case of which the following conditions are fulfilled: (a) that

Contingent legacy

position or existence of the beneficiary; in the first case as in a bequest to be paid or payable to A. when he shall attain twenty one years, the legacy is vested and not contingent and although

Commission, the promoter's

competitions exceeds the sum of (1) the aggregate prize in the competitions; (2) the aggregate pool betting duty payable in respect of the competitions; and (3) the expenses of the promoter actually incurred by him in the

Capacity payment

a contract for the sale of oil consisting of gas won from an oil field which (1) is payable by the buyer at specified times or in respect of specified periods, and (2) is payable whether or

By the reason of termination of employment

on the termination of employment' which is used in sub-clause (6). In other words, gratuity which may be payable to an employee by reason of the termination of his employment would fall under sub-clause (d), provided it

Average

In Kent it is called gratten, and in other parts roughings. (5) means the average of the wages payable to a workman--(i) in the case of monthly paid workman, in the three complete calendar months, (ii) in

Annuity

561 (565): AIR 1971 SC 915. [Wealth Tax Act, 1957, s. 2(e)(iv)] An annuity is a fixed sum payable annually either in perpetuity or for any less period. When charged upon land either freehold or leasehold both,

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