Rate Lock - Law Dictionary Search Results
Home Dictionary Name: rate lockrate lock
rate lock a commitment by a lender to a borrower guaranteeing a specific interest rate over a period of time at a set cost. Source: U.S. Department of Housing and Urban Development ...
lock-in
lock-in since interest rates can change frequently, many lenders offer an interest rate lock-in that guarantees a specific interest rate if the loan is closed within a specific time. Source: U.S. Department of Housing and Urban Development ...
lock-in period
lock-in period the length of time that the lender has guaranteed a specific interest rate to a borrower. Source: U.S. Department of Housing and Urban Development ...
Lock out
Lock out, in the case of a lock-out, the industry as such is not closed down even temporarily; only particular workers re refused work. Closing down a business even temporarilyis distinct and different from a lock-out, Indian Metal and Metallurgical Corporation v. Industrial Tribunal, AIR 1953 Mad 98.The word 'lock-out', as stated in the Presidency Jute Co's case [(1952) Lab AC 62], in its dictionary sense means refusal on the part of an employer to furnish to his operatives except on conditions to be accepted by the latter collectively, Feroz Din v. State of West Bengal AIR 1960 SC 363 (367): (1960) 2 SCR 319. [Industrial Disputes Act, 1947 (14 of 1947)]It means the temporary closing of a place of employment, or the suspension of work, or the refusal by an employer to continue to employ and number of persons employed by him. [Industrial Disputes Act, 1947 (14 of 1947), s. 2 (l)...
Rate
Rate, A contribution levied by some public body for a public purpose, as a poor rate, a highway rate, a sewers rate, upon, as a general rule, the occupiers of property within a parish or other area.Proportional or relative value; the proportion of which quantity or value is adjusted, Black's Law Dictionary, 7th Edn., p. 1268.The term 'rate' is also used to mean a charge by a water, gas, railway, or other public undertaking for services rendered e.g., (English) Railways Act, 1921, s. 20; Metropolitan Water Board Charges Act, 1921 (11 & 12 Geo. 5, c. xciv.).The poor rate was levied under the (English) Poor Relief Act, 1601 (43 Eliz. s. 2), on the occupiers in each parish of 'lands, houses, tithes, coal mines, or saleable underwoods,' and the (English) Rating Act, 1874, extended the liability to rates to: (1) land used for a plantation or a wood, or for the growth of saleable underwood, and not subject to any right of common; (2) rights of fowling, shooting, taking, or killing game, or ra...
Locke's Act
Locke's Act (English), (23 & 24 Vict. c. 127), the Solicitors Act, 1860, amending the law as to the admission etc., of solicitors. Secs. 22 (in part) and 34, 35 have not been repealed by the Solicitors Act, 1932 (23 & 24 Geo. 5, c. 37).Locke-King's Act (English) (17 & 18 Vict. c. 113), the Real Estates Charges Act, 1854 (amended by the Real Estate Charges Act, 1867 and 1877 (30 & 31 Vict. c. 69, and 40 & 41 Vict. c. 34)), whereby the heir or devisee of real estate was first precluded from claiming payment of a mortgage on such estate out of the personal assets of the ancestor or testator. In respect of deaths after 1925, both these Acts were repealed and reproduced and extended by the Administration of Estates Act, 1925; see s. 35....
Pick-lock
Pick-lock, an instrument by which locks are opened without a key....
Agricultural rates
Agricultural rates, The (English) Agricultural Rates Act, 1896, as amended by the (English) Agricultural Rates Act, 1923, provides that the occupier (including the owner if rated in place of the occupier) of agricultural land shall be liable to one quarter only of the rate in the pound payable in respect of buildings and other hereditaments. These exemptions were preserved by the (English) Rating and Valuation Act, 1925, s. 22, but agricultural land and buildings are now entirely derated, see the (English) Rating and Valuation (Apportionment) Act, 1928, and the Local Government Act, 1929, s. 67....
adjustable-rate mortgage (arm)
adjustable-rate mortgage (arm) a mortgage loan that does not have a fixed interest rate. During the life of the loan the interest rate will change based on the index rate. Also referred to as adjustable mortgage loans (AMLs) or variable-rate mortgages (VRMs). Source: U.S. Department of Housing and Urban Development ...
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)]...
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