Pilot Value - Law Dictionary Search Results
Home Dictionary Name: pilot valuePilot
Pilot, a person taken on board at any particular place for the purpose of conducting a ship through a river, road, or channel, or from or into a port, defined in s. 742 of the (English) Merchant Shipping Act, 1894, as meaning 'any person not belonging to a ship who has the conduct thereof.' Pilots are established in various parts of the country, by ancient charters of incorporation or by particular statutes. The most important of these in-corporations are those of the Trinity House, Deptford Stroned; the fellowship of the Pilots of Dover, Deal, and the Isle of Thanet, commonly called the Cinque Port Pilots; and the Trinity Houses of Hull and New castle. For the general law on the subject of pilots and pilotage, see the Pilotage Acts, 1913 (2 & 3 Geo. 5, c. 31) and amending Acts and the Pilotage Authorities (Limitation of Liability) Act, 1936 (26 Geo. 5 & 1 Edw. 8, c. 36). Consult Digby and Cole on Pilots.Compulsory Pilots.--By the Act of 1913, s. 15 (reversing the Common Law rule), own...
Compulsory Pilot
Compulsory Pilot. See PILOT....
Branch pilot
A pilot who has a branch or commission as from Trinity House England for special navigation...
Pilot flag
The flag hoisted at the fore by a vessel desiring a pilot in the United States the union jack in Great Britain the British union jack with a white border...
Pilotism
Pilotage skill in the duties of a pilot...
Sky pilot
A person licensed as a pilot...
Value
Value, a relative term. The value of a thing may refer to a certain standard with which the thing can be measured or compared. The factors of comparison should be capable of precise definition.The word 'value,' when used without adjunct, always means in political economy, value in exchange; or, as it has been called by Adam Smith and his successors, exchangeable value, a phrase which no amount of authority that can be quoted for it can make other than bad English. Mr. De Quincey substitutes the term 'exchange value,' which is unexceptionable, 1 Mill's Pol. Econ. 528, 578.The word 'value,' it is to be observed, has more than one meaning, and sometimes expresses the utility of some particular object, and sometimes the power of purchasing other goods which the possession of that object conveys. The one may be called 'value in use,' the other 'value in exchange.' The things which have the greatest value in use have frequently little or no value in exchange; and, on the contrary, those whic...
Market value
Market value, The term 'market value' has ac-quired a definite connotation by judicial decisions. Any addition to the value of the land to the owner whose land is compulsorily acquired which addition is the result of such factors as are unrelated to the open market cannot be regarded as a part of the market value, Union of India v. Shri Ram Mehar, AIR 1973 SC 305: (1973) 2 SCR 720: (1973) 1 SCC 109.Market value means the price that a willing purchaser would pay to a willing seller for the property having due regard to its existing condition with all its existing advantages and its potential possibilities when laid out in the most advantageous manner excluding any advantages due to the carrying out of the scheme for which the property is compulsory acquired, Thakur Kanta Prasad Singh v. State of Bihar, AIR 1976 SC 2219: (1976) 3 SCC 772: (1976) 3 SCR 585; Prithvi Raj Taneja v. State of Madhya Pradesh, AIR 1977 SC 1560: (1977) 1 SCC 684: (1977) 2 SCR 633. (Land Acquisition Act, 1894, s. ...
stated value
stated value : the value assigned in a corporation's books to stock and esp. to no-par value stock NOTE: Stated value is sometimes based on the actual amount received when stock is issued, but it can also be an arbitrarily low value. It has no relation to the market value of the stock. ...
Purchase value
Purchase value, means the value of the specified goods as ascertained from the original invoice and includes insurance, excise, duties, counter-vailing duties, sales tax, transport fee, octroi, freight charges and all other charges incidentally levied on the purchase of the specified goods and in the case of the specified goods mentioned at serial number 1 of the schedule also the value of accessories fitted therein:Provided that where purchase value of the specified goods is not ascertainable on account of non-availability or non-production of the original invoice, or when the invoice produced is proved to be false, or if the specified goods are acquired or obtained otherwise they by way of purchase, than the purchase value shall be the value or price at which the specified goods of the like kind or quality are sold or are capable of being sold, in open market in the local area. [The Gujarat Tax on entry of Specified Goods into Local Area Act, 2001, s. 2(i)]...
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