Payment Out Of - Law Dictionary Search Results
Home Dictionary Name: payment out ofPayment, out of
Payment, out of, the words 'payment out of' in its first meaning connotes actual payment, e.g., by taking the money out of the drawer or drawing a cheque on of bank. When used in connection with the word 'fund' in its second meaning they connote that, for the purposes of the account in which the fund finds place, the payment is debits to that fund, an operation which, of course, has no relation to the actual method of payment or the particular cash resources out of which the payment is made, R.K. Dalmia v. Delhi Administration, AIR 1962 SC 1821 (1834): (1963) 1 SCR 253....
cash out
cash out 1 : to prematurely redeem the securities of (a holder) often as part of a merger [the merging company will cash out the minority shareholders] 2 a : to accept payment for (a security) in full often unwillingly [the shareholders were required to cash out their shares] b : to dispose of (one's goods or assets) by sale [cashed out his investment] cash-out n ...
tender
tender 1 a : an act or instance of tendering b : an unconditional offer of payment or performance (as in discharge of an obligation) that is coupled with a manifestation of willingness and ability to follow through (as by producing a check) c : tender of delivery [sufficient ] 2 : something offered in payment or performance ;specif : money [the proper amount of required] see also legal tender vb [Anglo-French tendre to offer, propose for acceptance, literally, to stretch, hold out, from Old French, from Latin tendere] vt 1 a : to make a tender of [ goods] [ delivery] [ payment] [ performance] b : to offer as an amount in settlement of a claim by an injured party against an insured NOTE: An insurance company might be obligated to tender the limits of a policy to an injured party when a higher amount is likely to be awarded at trial. 2 : to extend for acceptance or consideration (as in proof of something) esp. in a proceeding [ a plea to the court] [ an issue] 3 : to offer...
invade
invade in·vad·ed in·vad·ing 1 : to encroach upon : infringe [invading a constitutional right] 2 : to make payments out of (a fund from which payments are not ordinarily made) [authorized the trustee to the principal for educational expenses] ...
Forgery
Forgery [fr. forger, Fr.; or fingo, Lat.], the crimen falsi, or the false making or alteration of an instrument, which purports on the face of it to be good and valid for the purposes for which it was created, with a design to defraud. The forged instrument must be false in itself. The mere subscribing a note, given as the party's own, by a fictitious name, was held not to be forgery, Reg. v. Martin, (1879) 5 QBD 34.The act of fraudulently making a false document or altering a real one to be used as if genuine, Black's Law Dictionary, 7th Edn., p. 661.Forgery at Common Law was a misdemeanour but most forgeries have been made felony by statute. Many of these statutes were consolidated by 11 Geo. 4 & 1 Wm. 4, c. 66, repealed and replaced by the Forgery Act, 1861 (24 & 25 Vict. c. 98), but the law now principally depends on the Forgery Act, 1913 (3 & 4 Geo. 5, c. 27, 'an Act to consolidate, simplify and amend the law relating to forgery and kindred offences.' It repeals such portions of s...
Documents (aircraft)
Documents (aircraft), means any certificate of registration, maintenance or airworthiness, log books and any similar document, Civil Aviation Act, 1982, s. 88(10) (UK) Halsbury's Laws of England (2) , para 1183, p. 576.Includes information recorded in any form and, in relation to information recorded otherwise than in legible form, reference to its production include references to producing a copy of the information in legible form, Banking Act, 1987, s. 106(1) (UK) Halsbury's Laws of England (2), para 35, p. 31.Given by way of charge is a document which only gives a right to payment out of a particular fund or property, and does not absolutely transfer the fund or property, Tancred v. Delagoa Bay and East Africa Rly. Co., (1889) 23 QBD 239 DC...
Reprises
Reprises, deduction and payments out of a manor or lands, as rent-charges, annuities....
Rent
Rent [fr. reditus Lat.], a certain profit issuing yearly out of lands and tenements corporeal; it may be regarded as of a two fold nature--first, as some-thing issuing out of the land, as a compensation for the possession during the term; and secondly, as an acknowledgment made by the tenant to the lord of his fealty or tenure. It must always be a profit, yet there is no necessity that it should be, as it usually is, a sum of money; for spurs, capons, horses, corn, and other matters, may be, and occasionally are, rendered by way of rent; it may also consist in services or manual operations, as to plough so many acres of ground and the like; which services, in the eye of the law, are profits. The profit must be certain, or that which may be reduced to a certainty by either party; it must issue yearly, though it may be reserved every second, third, or fourth year; it must issue out of the thing granted, and not be part of the land or the thing itself.Consideration paid, usu. periodically...
National insurance
National insurance. The (English) National Insur-ance Act, 1911 (1 & 2 Geo. 5, c. 55), introduced by Mr. Lloyd George, established a wide system of compulsory state insurance covering both ill-health and unemployment, which is based upon premiums contributed in part by the employer, in part by the employee, and in part by the State. The Act consisted of three parts, the first dealing with National Health Insurance, the second with Unemployment Insurance, and the third contained miscellaneous provisions. This Act remained the basis of National Health Insurance, although the subject of very extensive amendment, until the National Health Insurance Act, 1924, consolidated the law. The law has been consolidated again by the (English) National Health Insurance Act, 1936 (26 Geo. 5, and 1 Edw. 8, c. 32), amends and repeals the whole of the Acts passed in 1920, 1922, 1924 and 1928. The arrangement is as follows:-Part I. Insured Persons and Contributions.Part II. Benefits.Part III. Approved Soc...
Annuity
Annuity, in order to constitute an annuity, the payment to be made periodically should be a fixed or predetermined one, and it should not be liable to any variation depending upon or on any ground relating to the general income of the fund or estate which is charged for such payment, CWT v. P. K. Banerjee, (1981) 1 SCC 63 (75): AIR 1981 SC 401. [Wealth-Tax Act, 1957, s. 2(e)(1)(iv)]It is a right to receive a specified sum and not an aliquot share in the income arising from any fund or property. Ordinarily an annuity is a money payment of a fixed sum annually made and is a charge personally on the grantor, CWT v. Arundhati Balkrishna, (1970) 1 SCC 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, exclusively of purely personal estate, it is strictly a rent charge; see (English) Real Property Limitation Act, 1833 (3 & 4 Will. 4, c....
- << Prev.
- Next >>