Payment On Delivery - Law Dictionary Search Results
Home Dictionary Name: payment on delivery Page: 2Hire-purchase price
Hire-purchase price, means the total sum payable by the hirer under hire-purchase agreement in order to complete the purchase of, or the acquisition of property in, the goods to which the agreement relates; and includes any sum so payable by the hirer under the hire-purchase agreement by way of a deposit or other initial payment, or credited or to be credited to him under such agreement on account of any such deposit or payment, whether that sum is to be or has been paid to the owner or to any other person or is to be or has been discharged by payment of money or by transfer or delivery of goods or by any other means; but does not include any sum payable as a penalty or as compensation or damages for a breach of the agreement. [Hire-Purchase Act, 1972 (2 of 1972), s. 2 (d)]...
Day of acceptance
Day of acceptance, means (a) the day of the actual delivery of goods or the rendering of services; or (b) where any objection is made in writing by the buyer regarding acceptance of goods or services within thirty days from the day of the delivery of goods or the rending of services, the day on which such objection is removed by the supplier [Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 (32 of 1993), s. 2(b) Expl. (i)]...
Day of deemed acceptance
Day of deemed acceptance, means, where no objec-tion is made in writing by the buyer regarding acceptance of goods or services within thirty days from the day of the delivery of goods or the rendering of services, the day of actual delivery of goods or the rendering of services. [Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 (32 of 1993), s. 2(b) Expl. (ii)]...
Impossibility
Impossibility. If a man contract to do a thing which is absolutely impossible by its nature, such contract will not bind him--lex non cogit ad impossibilia, e.g., where the subject-matter has perished before date of contract, or never existed [see (English) Sale of Goods Act, 1893, s. 6; and Conturier v. Hastie, (1852) 8 Ex 43 & HLC 673]; but where the contract operating as a transfer of real property, e.g., as a demise, is to do a thing which is possible in itself, but which becomes impossible, he will be liable for the breach; thus, where a lessee covenants to repair and to leave in repair the demised premises he is not discharged from his liability because they happen to be destroyed [see Bullock v. Dommitt, (1796) 6 TR 650]; or requisitioned by the military, Whitehall Court Ltd. v. Etlinger, (1920) 1 KB 680.The non-performance of a contract which arises from an act of the law having rendered performance impossible is excused, see Baily v. De Crespigny, (1869) LR 4 QB 180; Re Shipto...
Uses
Uses (History). A use is the intention or purpose, express or implied, upon which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery of seisin, which was performed openly and in the presence of the people of the locality.It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people.Hence ingenuity was sharpened to hit upon a device which should set at nought the rigidity of existing law and formalities.A system was found by the monastic jurists upon a model furnished by the Civil Law, which, by a nice adaptation, evaded, without overturning, the Common Law. Two methods of transferring realty began to co-exist in this country-the ancient Common Law system, and the later invention, which is denomi...
Gift, 'transfer of property
Gift, 'transfer of property', the definition of 'gift' makes it clear that there has to be a transfer by one person to another of movable or immovable property; such transfer has to be voluntary and without consideration in money or money's worth. What is, therefore, absolutely essential for the purposes of a gift is a transfer of property. 'Transfer of property' is defined for the purposes of the Gift-tax Act as any disposition or conveyance, or assignment or settlement or delivery or payment or other alienation of property, C.G.T. v. T.M. Louiz, (2000) 7 SCC 486: AIR 2000 SC 3136 (3138). [Gift-tax Act, 1958, ss. 2(xii) & (xxiv), 3 and 4]...
Revendication
Revendication. Upon the sale of goods on credit, by the law of some commercial countries, a right is reserved to the vendor to retake them, or he has a lien upon them for the price, if unpaid: and in other countries he possesses a right of stoppage in transitu (q.v.) only in cases of insolvency of the vendee. The Roman law did not generally consider the transfer of property to be complete by sale and delivery alone without payment or security given for the price, unless the vendor agreed to give a general credit to the purchaser; but it allowed the vendor to reclaim the goods out of the possession of the purchaser, as being still his own property. Quod vendidi (say the Pandects), nobis aliter fit accipienlis, quam si aut pretium nobis solutum sit, aut satis to non datum, vel etiam fidem habuerimus emptori sine ulla satisfactione. The present code of France gives a privilege or right of revendication against the purchaser for the price of goods sold, so long as they remain in possession...
The contract contains any other stipulation by penalty
The contract contains any other stipulation by penalty, the expression 'the contract contains any other stipulation by way of penalty' comprehen-sively applies to every covenant involving a penalty whether it is for payment on breach of contract of money or delivery of property in future, or for forfeiture of right to money or other property already delivered, Fateh Chand v. Balkishan Das, AIR 1963 SC 1405 (1411): (1964) 1 SCR 515...
Scrip
Scrip, a certificate or schedule; also evidence of the right to obtain shares or debentures in a limited company, sometimes called 'scrip-certificate,' generally part paid and exchangeable for the certificate of share or the debenture upon payment in full. Scrip to bearer appears to be negotiable and to pass by delivery, see Goodwin v. Robarts, (1875) LR 10 Ex 337; 1 App Cas 476; Rumball v. Metropolitan Bank, (1877) 2 QBD 194.1. A document that entitles the holder to receive something of value 2. Paper money issued for temporary use, Black's Law dictionary, 7th Edn., p. 1349....
Conditions of sale
Conditions of sale. The terms set forth in writing upon which an estate of interest is to be sold by auction, tender, or private treaty. Together with the particulars (q.v.) the conditions constitute the offer for sale. Conditions of sale will be construed so as to collect the meaning of the parties without incumbering them with the technical meaning of words; for, as Lord Hardwicke declared, 'there is no magic in words.' But the conditions should be accurate, for they cannot be contradicted by parol at the sale; 'the babble of the auction room,' as Lord Eldon termed it, being inadmissible as evidence, and this although the purchaser by the written agreement bind himself to abide by the conditions and declarations made at the sale. If the conditions require alteration, they should be so altered in writing before the sale. See AUCTION; CONTR-ACT OF SALE. In sales of land, conditions of sale usually refer to the following matters:-Bidding at the auction, payment of deposit, date of compl...
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