Preferred Stock - Law Dictionary Search Results
Home Dictionary Name: preferred stock Page: 2 Page 2 of about 19 results ( seconds)redeemable
redeemable : capable of being redeemed ;specif : subject to redemption before maturity or after a specified time and usually with payment of an added premium [a bond] [ preferred stock] ...
Inheritance
Inheritance, or hereditary succession, is the title whereby a man, on the death of his ancestor, acquires his estate by right of representation as his heir t law.The 'canons of inheritance' are the rules directing the descent of real property throughout the lineal and collateral consanguinity of the owner dying intestate.These rules have been abolished in the case of deaths after January 1st, 1926, with a few exceptions (see HEIR), by the (English) Administration of Estates Act, 1925, s. 51, but they still affect the devolution before 1926 of all titles to estates of inheritance.Inheritance Act.--The Inheritance Act, 1833 (3 & 4 Wm. 4, c. 106), materially altered the old canons of real property descent, but because the Act does not extend to any descent which took place on the death of any person who died before the 1st of January, 1834, it is deemed expedient to give both old and new:-Old Canons.--The old Canons, which obtain in cases of ancestors dying before the 1st of January, 1834...
Alteration of share capital
Alteration of share capital. Under the (English) Companies Act, 1929, the share capital of a company may be altered by increase (s. 53), consolidation or division, conversion of shares into stock and reconversion or cancellation of unissued capital (s. 50), or redemption of redeemable preference shares (s. 46). The alteration must be authorized by the Articles, and the memorandum modified. A company cannot make an original issue of stock (Home & Foreign Investment and Agency Co., (1912) 1 Ch 72, and subject to confirmation by the Court a company may reduce its capital by special resolution for reducing share capital and consequential alteration of the memorandum. The words 'and reduced' need not be added to the name of the company unless the Court so orders (ss. 55-60). As a rule in all these cases the alteration must be notified to the Registrar of Joint Stock Companies (s. 5), and, in the case of reduction, registered by him (s. 58)....
convert
convert 1 a : to change from one form or use to another b : to exchange (property) for another esp. of a different kind [if property…is compulsorily or involuntarily ed "Internal Revenue Code"] ;esp : to exercise the right of conversion by exchanging (preferred shares or bonds) for common stock 2 : to appropriate (another's property) by conversion [the bailee ed the goods to his own use] see also embezzle con·vert·er n con·ver·ti·ble [kən-vər-tə-bəl] adj ...
Charities, or Public Trusts
Charities, or Public Trusts. One of the earliest fruits of the Emperor Constantine's zeal, or pretended zeal, for Christianity, was a permission to his subjects to bequeath their property to the Church. This permission was soon abused to so great a degree as to induce the Emperor Valentinian to enact to Mortmain Act by which it was restrained. But this restraint was gradually relaxed; and in the time of Justinian it became a fixed maxim of civil law that legacies to pious uses (which included all legacies destined to works of charity, whether they related to spiritual or temporal concerns) were entitled to peculiar favour, and to be deemed privileged testaments.Lord Thurlow was clearly of opinion that the doctrine of charities grew up from the civil law; and Lord Eldon, in assenting to that opinion, has judiciously remarked, that at an early period that ordinary had the power to apply a portion of every man's personal estate to charity; and when afterwards the statute compelled a distr...
Emblements
Emblements [fr. emblavance de bled, O. Fr. corn sprung or put above ground], the growing crops of those vegetable productions of the soil which are annually produced by the labour of the cultivator. They are deemed personal property, and pass as such to the executor or administrator of the occu-pier, whether he were the owner in fee, or for life, or for years, if he die before he has actually cut, reaped, or gathered the same; and this, although being affixed to the soil, they might for some purposes be considered, whilst growing, as part of the realty.The growing crop annually produced by labour, as opposed to a crop naturally, Black Law Dictionary, 7th Edn., p. 540.If a tenant for life or pur autre vie die, his executor or administrator is entitled to emblements', for the estate was determined by the act of God; and it is a maxim in the law that actus Dei nemini facit injuriam. The advantages of emblements are extended to parochial clergy by 28 Hen. 8, c. 11, but a person who resigns...
Joint-tenancy
Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter of conveyance or claim in solido, and not as merchan-dise, or for purposes of speculation, to two or more persons in the same right, either simply, or by construction or operation of law jointly, with a jus accrescendi, that is, a gradual concentration of property from more to fewer, by the accession of the part of him or them that die to the survivors or survivor, till it passes to a single hand, and the joint-tenancy ceases.Anciently, joint-tenancy was favoured because it did not induce fractions of estates, and returning to early principles the (English) Land Legislation of 1925 has employed the tenure generally as the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that legal estate has been ...
Preferential payments
Preferential payments, in bankruptcy, administra-tion of estates of persons dying insolvent, and winding up of a company:-One year's rates and taxes, four months' salaries of clerks up to fifty pounds, and two months' wages of labourers or workmen, up to twenty-five pounds (labourers in husbandry paid partly in a lump sum at the end of the year of hiring to have the whole or proportionate part of that sum). Also sums due under the Workmen's Compensation Acts, the National Insurance Acts (Health and Unemployment and Contributory Pensions). These debts rank equally between them unless the assets are insufficient, in which case they are to abate in equal proportions. By the (English) Bankruptcy Act, 1914 (see s. 34), the preference was extended to apprentices. See the (English) Bankruptcy Act, 1914, s. 33, and the (English) Companies Act, 1929, s. 264, by which these debts are directed to be paid in priority to all others; and by s. 264 (4) (b) of the Companies Act, 1929, these debts are ...
Winding-up
Winding-up, the process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies.The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly, among its members according to their respective rights with a view to its dissolution. If the assets are not sufficient to meet the liabilities, a company is usually wound up by the Court. In other cases the winding-up is usually voluntary and conducted by the company itself either with or without the supervision of the Court. The provisions of the (English) Companies Act, 1929, govern a winding-up in any of these three modes (s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if not of certain value to be...
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