Receiver - Law Dictionary Search Results
Home Dictionary Name: receiver Page: 4Turnover of sales
Turnover of sales, in relation to any period, means the aggregate of the sale prices or parts of sale-prices received or receivable by a dealer in respect of sales of goods made during such period after deducting therefrom the amounts, if any, refunded by the dealer in respect of any such goods returned or rejected by the purchaser within three months from date of delivery of such goods. [West Bengal Value Added Tax Act, 2003, s. 2(55)]Means the aggregate of the amounts of sale price received and receivable by a dealer in respect of any sale of goods made during a given period after deducting the amount of sale price, if any, refunded by the dealer to purchaser, in respect of any goods purchased and returned by the purchaser within the prescribed period. [Gujarat Value Added Tax Act, 2003, s. 2(33)]Means the aggregate of the amounts of sale price received and receivable by a dealer in respect of any sale of goods made during a given period after deducing the amount of:(a) sale price, i...
Receipt
Receipt, an acknowledgment in writing of having received a sum of money, which is prima facie but not conclusive evidence of payment, Skaife v. Jackson, (1824) 3 B&C 421.The act of receiving something; a written acknow-ledgment that something has been received, Black's Law Dictionary, 7th Edn.A stamp duty first imposed in 1783 was progressively ad valorem, until 1853, when the uniform 1d. rate was imposed; this was increased to 2d. by the Finance Act, 1920.For the purposes of the Stamp Act, 1891, the expression 'receipt' is defined (s. 101) as including--(1) Any note, memorandum, or writing whereby any money amounting to two pounds or upwards, or any bill of exchange or promissory note for money amounting to two pounds or upwards, is acknow-ledged or expressed to have been received or deposited or paid, or whereby any debt or demand, or any part of a debt or demand, of the amount of two pounds or upwards, is acknowledged to have been settled, satisfied, or discharged, or which signifie...
Property
Property, an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252.Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected privy purse, See M.M. Pathak v. Union of India, AIR 1978 SC 802.Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201.Every movable property is included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70.In commercial law this may carry its ordinary meaning of the subject-matter of ownership. But elsewhere, as in the sale of goods it may be used as a synonym for ownership and lesser rights in goods, Dictionary of Commercial Law by A.H. Hudson, (1983, Edn.).In Entry 42, List III (Constitution of India) includes the power to legislate for acquisition of an un...
worthier title
worthier title often cap W&T : a common-law doctrine providing that an heir receiving a devise of an estate that is the same as the estate he or she would receive by descent if the grantor died without a will receives the property by descent rather than by devise since descent has been thought to convey a better title NOTE: The doctrine of worthier title today is usually considered in light of its implication for inter vivos transfers (that is, transfers made between living persons) to an heir. When a grantor makes an inter vivos conveyance of property followed by a future estate to his or her heirs, the conveyance is deemed to create a reversion in the grantor rather than a remainder, so that the heirs take by descent and receive a superior title than that which would have been received through the remainder. ...
Begging
Begging, means:(i) soliciting or receiving alms in a public place or entering into any private premises for the purpose of soliciting or receiving alms, whether under any pretence;(ii) exposing or exhibiting with the object of obtaining or extorting alms, any sore, wound, injury, deformity or disease, whether of himself or of any other person or of an animal. [Juvenile Justice (Care and Protection of Children) Act, 2000 (56 of 2000), s. 2 (b)]Begging means-- (i) soliciting or receiving alms in a public place or entering on any private premises for the purpose of soliciting or receiving alms, whether under the pretence of singing, dancing, fortune telling, performing tricks or selling articles or otherwise; (ii) exposing or exhibiting with the object of obtaining or extorting alms any sore, wound, injury, deformity or disease, whether himself or of any other person or of an animal; (iii) allowing oneself to be used as an exhibit for the purpose of soliciting or receiving alms. [Children...
Financial asset
Financial asset, means debt or receivables and includes--(i) a claim to any debt or receivables or part thereof, whether secured or unsecured; or(ii) any debt or receivables secured by, mortgage of, or charge on, immovable property; or(iii) a mortgage, charge, hypothecation or pledge of movable property; or(iv) any right or interest in the security, whether full or part underlying such debt or receivables; or(v) any beneficial interest in property, whether movable or immovable, or in such debt, receivables, whether such interest is existing, future, accruing, conditional or contingent; or(vi) any financial assistance. [Securitisation and Reconstruction of Financial Assets and Enforce-ment of Security Interest Act, 2002 (54 of 2002), s. 2(1)(l)]...
Post-graduate training
Post-graduate training, the expression 'post-gradu-ate training' is used in Rule 49(c) in the sense of training received by a person holding a degree in medicine or science and not in the sense that such training ought to be received in or through a post-graduate institution imparting instruction or education in the particular discipline. The object of Clause (c) is to ensure that to be eligible for the post of a Drugs Inspector the person concerned must have received training under any of the authorities mentioned therein after graduation in medicine or science. Pre-graduation training is often not as efficacious as post-graduate training, for a person holding a higher educational qualification is in a better position to imbibe the training which he received, Maheshwar Prasad Srivastava v. Suresh Singh, AIR 1976 SC 1014 (1406): (1977) 1 SCC 627. [Drugs and Cosmetic Rules, 1945, Rules 49(c) and 44(a)]...
Savings banks
Savings banks, institutions for the safe custody and increase of the small savings of the poor. See Chitty's Statutes, tit. 'Savings Banks.' They are: (1) Trustee; (2) Post Office; (3) Military; (4) Statutory; (5) Uncontrolled.(1) Trustee Savings Banks are regulated by a long series of Acts (the Trustee Savings Banks Acts, 1861 to 1934), which provide that they must not be described in a manner which implies that the Government is responsible to depositors, that the money received must be paid to the Bank of England or Ireland and carried to an account kept in the names of the National Debt Commissioners, and that annual accounts must be sent to the Commissioners. An 'Inspection Committee,' estab-lished under the Savings Bank Act, 1891, has extensive powers of supervision for the purpose of detecting any breaches of the Acts or rules regulating a bank. Deposits by any depositor in more than one Trustee Savings Bank is prohibited, and the Treasury have power to limit the amount from one...
accept
accept 1 a : to receive with consent [ a gift] [ service] b : to assent to the receipt of and treat in such a way as to indicate ownership of [ed the shipment despite discovering defects in the merchandise] compare reject NOTE: Under section 2-606(1) of the Uniform Commercial Code, a buyer accepts goods if: 1) he or she indicates to the seller after a reasonable opportunity to inspect them that he or she will keep them; 2) he or she fails to effectively reject them; 3) he or she acts in a way that is inconsistent with seller's ownership of the goods. 2 : to make an affirmative or favorable response to ;specif : to indicate by words or action one's assent to (an offer) and willingness to enter into a contract NOTE: A contract is created when the offer is accepted. 3 : to assume orally, in writing, or by conduct an obligation to pay [ing a draft] 4 of a deliberative body : to receive (a report) officially (as from a committee) vi 1 : to receive favorably something offered usu...
basis
basis pl: ba·ses [-sēz] 1 : something (as a principle or reason) on which something else is established [the court could not imagine any conceivable for the statute] see also rational basis 2 : a basic principle or method ;esp : the principle or method by which taxable income is calculated NOTE: The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer. ac·cru·al basis : a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made called also accrual method cash basis : a method of accounting in which income and expenses are recorded in the period when payment is received or made called also cash method 3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for inc...
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