Proprietary Lease - Law Dictionary Search Results
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lease
lease [Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner ;also : the act of such conveyance or the term for which it is made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of goods for a term in return for consideration.” build·ing lease : ground lease in this entry consumer lease : a lease made by a lessor regularly engaged in the selling or leasing of a product to a lessee who is leasing the product primarily for his or her personal or household use finance lease : a lease in which the lessor acquires g...
Patent and proprietary medicines
Patent and proprietary medicines, a 'patent medicine' means medicine in respect of which a patent is in force, 'proprietary' means of a proprietor, that is, holding proprietary rights. Patent means a grant of some privilege, property, or authority made by the government or sovereign of a country to one or more individuals. A proprietor is one who has the legal right or exclusive title to anything. On a comparison of the earlier Explanation and the substituted Explanation earlier, Patent and proprietary meant a drug. In the substituted explanation, it means any medicinal preparation, Aphali Pharmaceuticals Ltd. v. State of Maharashtra, AIR 1989 SC 2227 (2235): (1989) 4 SCC 378: (1989) Supp 1 SCR 129....
Lease
Lease [either from locatio, Lat., the letting of property, or laisser, Fr., to let, or leapum, or leasum, Sax., to enter lawfully], sometimes also called demise (demissio), is a grant of property for life, or years, or from year to year or at will, by one who has greater interest in the property. The person granting is called the lessor, who is possessed of the reversion (as to a reversion being essential to a lease, see 1 Platt on Lease, pp. 9 et seq.); he to whom the property is granted, the lessee. The consideration is usually the payment of a rent or other annual recompense. The ancient operative words were 'demise, lease, and to farm let,' or 'demise and lease.'The (English) Law of Property Act,1925, makes a distinction between leases for years which become legal estates if they consist of terms of years absolute and leases for life which have been converted into merely equitable interests if created under a settlement, but by s. 149 of the Act leases for life at a rent or in cons...
Patent or proprietary medicine
Patent or proprietary medicine, means--(i) in relation to Ayurvedic, Siddha or Unani Tibb systems of medicine all formulations containing only such ingredients mentioned in the formulae described in the authoritative books of Ayurveda, Siddha or Unani Tibb systems of medicine specified in the First Schedule, but does not include a medicine which is administered by parenteral route and also a formulation included in the authoritative books as specified in clause (a);(ii) in relation to any other systems of medicine, a drug which is a remedy or prescription presented in a form ready for internal or external administration of human beings or animals and which is not included in the edition of the Indian Pharmacopoeia for the time being or any other Pharmacopoeia authorised in this behalf by the Central Government after consultation with the Drugs Technical Advisory Board constituted under s. 5. [Drugs and Cosmetics Act, 1940 (23 of 1940), s. 3 (h)]The expression 'patent or proprietary med...
Proprietary
Proprietary, he who has a property in anything.Means of a proprietor, that is, holding proprietary rights. A proprietor is one who has the legal right or exclusive tittle to anything. It is synonymous with owner. A person entitled to a trade mark or a design under the acts for the registration or patenting of trade mark or design is called a proprietor of the trade mark or design, Aphali Pharmaceuticals Ltd. v. State of Maharasthra, AIR 1989 SC 2227 (2335)....
Renewal of lease
Renewal of lease, a re-grant of an expiring lease for a further term. Where a lease contains a covenant by the lessor for renewal, this convenant is commonly subject to the condition that the covenants in the lease shall have been performed by the lessee, and this condition is strongly enforced by the Court, Finch v. Underwood, (1876) 2 Ch D 310.Leases may be surrendered in order to be renewed, without a surrender of under-leases, by virtue of the (English) Landlord and Tenant Act, 1730 (4 Geo. 2, c. 28), s. 6, before which Act a surrender of each under-lease was necessary.As to covenants for perpetual renewal, see Wynn v. Conway Corporation, (1914) 2 Ch 705, and cases there referred to.By the (English) Law of Property Act, 1922, s. 145, and 15th Sch., perpetually renewable leases have, from the 1st January, 1926, been converted into terms of 2,000 years from the date of the commen-cement of the existing term. The conversion is without prejudice to the covenants and conditions of the l...
Mining lease
Mining lease, means for the purposes of the (English) Law of Property Act, 1925, a lease for mining purposes, that is, the searching for, winning, working, getting, making merchantable, carrying away, or disposing of mines and minerals, or purposes connected therewith, and includes a grant or licence for mining purposes [s. 205 (1) (xiv.), ibid.].'Mining lease', according to s. 3(d) of 1948 Act, means a lease granted for the purpose of searching for, winning, working, getting, making merchantable, carrying away or disposing of minerals or for the purposes connected therewith and includes an exploring or a prospecting license. 'Mining lease', according to Rule 3(i) of 1949 Rules means a lease to mine, quarry, bore, dig and search for, win, work and carry away any mineral specified therein. s. 3(c) of 1957 Act defines 'mining lease' to mean a lease granted for the purpose of undertaking mining operations and includes a sub-lease granted for mining operations, Gujarat Pottery Works v. B.P...
Under-lease
Under-lease, a grant by a lessee to another, called under-lessee, or under-tenant, or sub-lessee, or sub-tenant, of a part of his whole interest under the original lease, reserving to himself a reversion; it differs from an assignment, which conveys the lessee's whole interest, and passes to the assignee the right and liability to sue and be sued upon the covenants in the original lease.An under-lease for the whole term of the original lease amounts to an assignment, Beardman v. Wilson, (1868) LR 4 CP 57.Between the original lessor and an under-tenant there is neither privity of estate nor privity of contract, so that these parties cannot take advantage, the one against the other, of the covenants, either in law or in deed, which exist between the original lessor and lessee [Holford v. Hatch (1779) 1 Dougl 183; Johnson v. Wild, (1890) 44 Ch D 146]; but the lessor can distrain on the sub-lessee or take advantage of a condition of forfeiture, G.W. Ry. v. Smith, (1876) 2 Ch D 253. By s. 4...
Building lease
Building lease, a lease of land for a long term of years, usually 99, at a rent called a ground rent, the lessee covenanting to erect certain buildings thereon according to specification, and to maintain the same, etc., during the term. At the end of the term, the land, with the buildings upon it, reverts to the lessor and his assigns. By 45 & 46 Vict. c. 38, s. 2(10)(iii), a building lease is defined as a lease for the erecting and improving of, and the adding to and the repairing of, buildings, and by the Law of Property Act, 1925, s. 205, as a lease for building purposes or purposes connected therewith. Such leases of settled land are regulated by the Settled Land Act, 1925, s. 44, and (as to leases by mortgagees), by s. 99, sub.-ss. 58 (3), (9) and (10) of the (English) L.P. Act, 1925. See the (English) Landlord and Tenant Act, 1927 (17 & 18 Geo. 5, c. 36), s. 2(1), in connection with a tenant's claim for compensation for improvements....
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