Prices Current - Law Dictionary Search Results
Home Dictionary Name: prices currentPrices, current
Prices, current, a list or enumeration of various Articles of merchandise, with their prices, the duties (if any) payable thereon, when imported or exported, with the drawbacks occasionally allowed upon their exportation, etc....
market price
market price 1 : the price at which a security is currently selling on the market 2 : market value ...
Price
The sum or amount of money at which a thing is valued or the value which a seller sets on his goods in market that for which something is bought or sold or offered for sale equivalent in money or other means of exchange current value or rate paid or demanded in market or in barter cost...
Sale price
Sale price, 'Sale Price' means the amount payable to a dealer as consideration for the sale of any goods, less any sum allowed as cash discount according to the practice normally prevailing in the trade, but inclusive of any sum charged for anything done by the dealer in respect of the goods at the time of or before the delivery thereof other than the cost of freight or delivery of the cost of installation in case where such cost is separately charged and the expression 'purchase price' shall be construed accordingly, Shree Gopal Industries Ltd. v. State of Rajasthan, AIR 1971 SC 2054: (1971) 2 SCC 532.(ii) Under s. 4 of the Madhya Pradesh General Sales Tax Act, 1958 the liability to pay tax is that of the dealer. The purchaser has no liability to pay tax. There is no provision in the Act from which it can be gathered that the Act imposes any liability on the purchaser to pay the tax imposed on the dealer. If the dealer passes on his tax burden to his purchasers he can only do it by au...
Upset price and value
Upset price and value, in the case of A.U. Natarajan (Dr.) v. Indian Bank, AIR 1981 Mad 141, it has been held that the expressions 'value of a property' and 'upset price' are not synonymous but have different meanings. That the term 'upset price' means lowest selling price or reserve price. That unfortunately in many cases the word 'value' has been used with reference to upset price. That the sale has to commence at the higher price and in the absence of bidders, the price will have to be progressively brought down till it reaches the upset price. That the upset price is fixed to facilitate the conduct of the sale. the fixation of upset price does not preclude the claimant from adducing proof that the land is sold for a low price, Anil Kumar Srivastava v. State of Uttar Pradesh, (2004) 8 SCC 671 (679): AIR 2004 SC 4299. [Contract Act 1872, ss. 2(a), 2(b), 4 and 7]...
electric current
the movement of electrically charged particles atoms or ions through solids liquids gases or free space the term is usually used of relatively smooth movements of electric charge through conductors whether constant or variable Sudden movements of charge are usually referred to by other terms such as spark or lightning or discharge In metallic conductors the electric current is usually due to movement of electrons through the metal The current is measured as the rate of movement of charge per unit time and is counted in units of amperes As a formal definition the direction of movement of electric current is considered as the same as the direction of movement of positive charge or in a direction opposite to the movement of negative charge Electric current may move constantly in a single direction called direct current abbreviated DC or may move alternately in one direction and then the opposite direction called alternating current abbreviated AC...
Current official scale of rates
Current official scale of rates, the expression 'current' means 'vogue' or 'prevalent'; and 'current rate' may mean the rate obtaining at a particular time or at a future time or from time to time. The terms goes well with the present, future and recurrent, the words 'current official' scale of rates' in para IV of the agreement mean the official scale of rates current or prevalent from time to time during the currency of the agreement, Gopisetti Venkatratmam v. Vijayawada Municipality, AIR 1966 SC 353 (354, 355): (1965) 3 SCR 276. [Electricity Act, (9 of 1910), s. 21(2)]...
Wholesale cash price
Wholesale cash price, there can be no doubt that the 'wholesale cash price' has to be ascertained only on the basis of transactions at arms length. If there is a special or favoured buyer to whom a special low price is charged because of extra-commercial considerations, e.g. because he is relative of the manufacturer, the price charged for those sales would not be the 'wholesale cash price' for levying excise under s. 4(a) of the Act, A.K. Roy v. Voltas Limited, AIR 1973 SC 225 (228): (1973) 3 SCC 503: (1973) 2 SCR 1089. [Central Excise and Sales Act, 1944, s. 4(a)]Where a manufacturer sells the goods manufactured by him in wholesale to a wholesale dealer at arms length and in the usual course of business, the wholesale cash price charged by him to the wholesale dealer less trade discount would represent the value of the goods for the purpose of assessment of excise. That would be the wholesale cash price for which the goods are sold at the factory-gate within the meaning of s. 4(a), A...
Direct current
A current flowing in one direction only distinguished from alternating current When steady and not pulsating a direct current is often called a continuous current...
vertical price-fixing
vertical price-fixing : an illegal arrangement in which parties at different levels of a system of production and distribution act to fix the market price of goods ;esp : resale price maintenance compare horizontal price-fixing NOTE: Vertical price-fixing is a per se violation of antitrust laws. ...
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