Reasonable Diligence - Law Dictionary Search Results
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reasonable diligence : due diligence ...
due diligence
due diligence 1 : such diligence as a reasonable person under the same circumstances would use : use of reasonable but not necessarily exhaustive efforts called also reasonable diligence NOTE: Due diligence is used most often in connection with the performance of a professional or fiduciary duty, or with regard to proceeding with a court action. Due care is used more often in connection with general tort actions. 2 a : the care that a prudent person might be expected to exercise in the examination and evaluation of risks affecting a business transaction b : the process of investigation carried on usually by a disinterested third party (as an accounting or law firm) on behalf of a party contemplating a business transaction (as a corporate acquisition or merger, loan of finances, or esp. purchase of securities) for the purpose of providing information with which to evaluate the advantages and risks involved [the greatest exposure…for failure to conduct adequate due diligence...
Presetment of Bill of Exchange, Cheque, or Pro-missory Note
Presetment of Bill of Exchange, Cheque, or Pro-missory Note, the presenting of a bill by the holder to the drawee for acceptance, or to the acceptor or an indorser for payment of, a cheque to the banker for payment, and of a note to the maker or indorser for payment.The law on this subject is regulated by the (English) Bills of Exchange Act, 1882, as follows:-Presentment of Bill for Acceptance.--Presentment is necessary if the bill be payable after sight or if it be expressly stipulated for by the bill, or if it be drawn payable elsewhere than at the residence or place of business of the drawee, but in no other case (s. 39). When a bill payable after sight is negotiated, the holder must either present or negotiate it within a reasonable time (s. 40).'The presentment must be made by or on behalf of the holder to the drawee or to some person authorized to accept or refuse acceptance on his behalf at a reasonable hour on a business day and before the bill is overdue.' Presentment must be ...
writ
writ [Old English, something written] 1 : a letter that was issued in the name of the English monarch from Anglo-Saxon times to declare his grants, wishes, and commands 2 : an order or mandatory process in writing issued in the name of the sovereign or of a court or judicial officer commanding the person to whom it is directed to perform or refrain from performing a specified act NOTE: The writ was a vital official instrument in the old common law of England. A plaintiff commenced a suit at law by choosing the proper form of action and obtaining a writ appropriate to the remedy sought; its issuance forced the defendant to comply or to appear in court and defend. Writs were also in constant use for financial and political purposes of government. While the writ no longer governs civil pleading and has lost many of its applications, the extraordinary writs esp. of habeas corpus, mandamus, prohibition, and certiorari indicate its historical importance as an instrument of judicial auth...
Fraud
Fraud, a fraud is an act of deliberate deception with the design of securing something by taking unfair advantage of another. It is a deception in order to gain by another's loss. It is a cheating intended to got an advantage, S.P. Chengalvaraya Naidu v. Jagannath, AIR 1994 SC 853 (855): (1994) 1 SCC 1.A term used in a variety of meanings. At Common Law, fraud is actionable under the heading of deceit (q.v.).A knowing misrepresentation of the truth or con-cealment of a material fact to induce another to act to his or her detriment, Black's Law Dictionary, 7th Edn., p. 670.In equity and upon the equitable principles which are now applicable in any Court of law, fraud may be described as an infraction of the rules of fair dealing. For the action at law intention and representation (q.v.) are material. In equity an act or its consequences to the person aggrieved may be of greater importance than the intention of the defendant or any representation made to the plaintiff, and the same may b...
Hire
Hire [locatio, conductio, Lat.], a bailment for a reward or compensation. It is divisible into four sorts:-(1) The hiring of a thing for use (locatio rei). (2) The hiring of work and labour (locatio operis faciendi). (3) The hiring of care and services to be performed or bestowed on the thing delivered (locatio custodi'). (4) The hiring of the carriage of goods (locatio operis mercium vehendarum) from one place to another. The three last are but sub-divisions of the general head of hire of labour and services.The rights, duties, and obligations of the parties resulting from the contract of bailment for hire may be thus stated:-(I.) Hire of things. The letting to hire implies an obligation to deliver the thing to the hirer; to refrain from every obstruction to the use of it by the hirer during the period of the bailment; to do no act that shall deprive the hirer of the thing; to warrant the title and right of possession to the hirer, in order to enable him to use the thing, or to perfor...
due care
due care : the care that an ordinarily reasonable and prudent person would use under the same or similar circumstances called also ordinary care reasonable care see also due diligence compare fault, negligence ...
Negligence
Negligence, acting carelessly, a question of law or fact or of mixed fact and law, depending entirely upon the nature of a duty, which the person charged with negligence has failed to comply with or perform in the particular circumstance of each case. A very convenient classification has been formulated corresponding to the degree of negligence entailing liability measured by the degree of care undertaken or required in each case, i.e., (1) ordinary, which is the want of ordinary diligence; (2) slight, the want of great diligence; and (3) gross, the want of slight diligence. A smaller degree of negligence will render a person liable for injury to infants than in the case of adults, see Cooke v. Midland Great Western Railway, 1909 AC 229; and Glasgow Corporation v. Taylor, (1922) 1 AC 44. There is also a peculiar duty to take precaution in the case of dangerous Articles, see Dominion Natural Gas Co. v. Collins, 1909 AC 640. This case should be distinguished from the principle in Fletche...
notice
notice 1 a : a notification or communication of a fact, claim, demand, or proceeding see also process, service NOTE: The requirements of when, how, and what notice must be given to a person are often prescribed by a statute, rule, or contract. b : awareness of such a fact, claim, demand, or proceeding actual notice 1 : actual awareness or direct notification of a specific fact, demand, claim, or proceeding [had actual notice of the meeting] called also express notice 2 : implied notice in this entry constructive notice : notice that one exercising ordinary care and diligence as a matter of duty would possess and esp. that is imputed by law rather than from fact [held to have constructive notice of the prior recorded deed] compare recording act express notice : actual notice in this entry implied notice : notice that is imputed to a party having knowledge of a fact or circumstance that would cause a reasonable party to inquire further or having possession of a means of know...
knowledge
knowledge 1 a : awareness or understanding esp. of an act, a fact, or the truth : actual knowledge in this entry b : awareness that a fact or circumstance probably exists ; broadly : constructive knowledge in this entry see also scienter, willful blindness NOTE: Knowledge fundamentally differs from intent in being grounded in awareness rather than purpose. ac·tu·al knowledge 1 : direct and clear awareness (as of a fact or condition) [the bank had actual knowledge that the name and account number referred to different persons] 2 : awareness of such information as would cause a reasonable person to inquire further ; specif : such awareness considered as a timely and sufficient substitute for actual notice (as of a work-related injury or of a bankruptcy proceeding) [ruled that the employer did not have actual notice or actual knowledge within 90 days] con·struc·tive knowledge : knowledge (as of a condition or fact) that one using ordinary care or diligenc...
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