Private Foundation - Law Dictionary Search Results
Home Dictionary Name: private foundationprivate foundation
private foundation : a tax-exempt foundation operated exclusively for humanitarian (as religious, charitable, educational, or scientific) purposes whose earnings do not benefit any private individual and which does not participate in or carry on any political propaganda or campaign compare charity ...
charity
charity pl: -ties : a gift for humanitarian, philanthropic, or other purposes beneficial to the public (as maintaining a public building) ;also : an institution (as a hospital or school) or organization founded by such a gift compare private foundation NOTE: Statutory definitions of what institutions and organizations qualify as charities vary. Organizations that are primarily involved in political campaigns or lobbying do not qualify as charities for tax purposes, but trusts for them may be considered charitable. In addition to tax-exempt status, charities have also generally been granted immunity from tort suits. ...
Foundation
Foundation, the founding or building of a college or hospital. The word is taken in two different senses, 'fundatio incipiens' and 'fundatio perficiens'; as to the politic capacity, the act of incorporation is metaphorically called the foundation, but as to the dotation, the first gift of the revenues is called the foundation, and he who gives it is the founder in law [Sutton's Hospital case, (1613) 10 Rep 1; 1 Bl. Com. 468].The basis on which something is supported, esp. evidence or testimony that establishes the admissibility of other evidence, Black's Law Dic-tionary, 7th Edn., p. 667.The founding or building of a college or hospital. The incorporation or endowment of a college or hospital is the foundation; and he who endows it with land or other property is the founder, Black's Law Dictionary, 4th Edn. See also Director of Income Tax v. Bharat Diamond Bourse, (2003) 1 SCC 741....
foundation
foundation 1 : a basis upon which something stands or is supported ;specif : a witness's preliminary testimony given to identify or explain evidence being offered at trial and establish its connection to the issue for which it is offered [the lack of any for the orthopedic surgeon's familiarity with the…standard of care rendered the surgeon's opinion testimony inadmissible "National Law Journal"] NOTE: Before evidence can be admitted at trial, the foundation for it must be laid by the party offering it. A foundation must also be laid for the qualification of a witness as an expert, or for the assertion of a privilege. 2 a : funds given for the permanent support of an institution : endowment b : an organization or institution established by endowment with provision for future maintenance foun·da·tion·al adj ...
Private company
Private company. A 'private company' is defined by s. 26 of the (English) Companies Act, 1929, as follows:-Company privately formed by members who subscribe the whole of the capital among them-selves.26. --(1), For the purposes of this Act the expression 'private company' means a company which by its articles-(a) restricts the right to transfer its shares; and(b) limits the number of its members to 50, not including persons who are in the employment of the company and persons who, having been formerly in the employment of the company, were, while in that employment and have continued after the determination of such employment to be, members of the company; and(c) prohibits any invitation to the public to subscribe for any shares or debentures of the company.(2) Where two or more persons hold one or more shares in a company jointly they shall, for the purposes of this section, be treated as a single member.S. 27, ibid., provides that if a company alters its articles so that the provisio...
Private
Belonging to or concerning an individual person company or interest peculiar to ones self unconnected with others personal ones own not public not general separate as a mans private opinion private property a private purse private expenses or interests a private secretary...
Private security agency
Private security agency, means a person or body of person other than a government agency; depart-ment or organization engaged in the business of providing private security services including training to private security guards or their supervisor or providing private security guards to any industrial or business undertaking or a company or any other person or property. [The Private Security Agencies (Regulation) Act, 2005, s. 2(g)]...
Laying a foundation
Laying a foundation, means introducing evidence of certain facts needed to render later evidence relevant, material, or competent. For example, propounding a hypothetical question to an expert is necessary before the expert may render an opinion. Black's Law Dictionary, 7th Edn., p. 896....
Right of private defence
Right of private defence, the right of private defence of person and property is recognised in all free, civilised, democratic societies within certain reasonable limits. Those limits are dictated by two considerations: (1) that the same right is claimed by all other members of the society and (2) that it is the State which generally undertakes the responsibility for the maintenance of law and order. The citizens, as a general rule, are neither expected to run away of safety when faced with grave and imminent danger to their person or property as a result of unlawful aggression, nor are they expected, by use of force, to right the wrongs done to them or to punish the wrongdoer for commission of offences. The right of private defence serves a social purpose and as observed by the Supreme Court more than once there is nothing more degrading to the human spirit than to run away in face of peril. But this right is basically preventive and not punitive, Gottipulla Venkata Siva Subbrayanam v...
private offering
private offering : the sale of an issue of securities directly by the issuer to one or a few large investors without any public offering called also private placement compare public offering NOTE: A private offering is exempt from the requirements of filing a registration statement with the Securities and Exchange Commission and distributing prospectuses to potential buyers before the sale. ...
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