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Right and legal right

becomes the subject of a legal right, it has to have not merely legal protection but also legal recognition. The elements of a 'Legal Right' are that the 'right' is vested in a person and is available

Practice

dismiss or discharge, Hindustan Lever Ltd. v. Ashok V. Kate, AIR 1966 SC 285, p. 301, (see Maharashtra Recognition of Trade Unions and Prevention of Unfair Labour Practices Act, 1971, Sch. IV, item 1). Practice, denotes the

Legally and Justly due

i.e., that such a claim, if sought to be enforced in a Court of Judicial Tribunal, will find recognition on the basis that it does not suffer from any legal infirmity, India and General Investment Trust Ltd.

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Church

though limited as to the causes to which, and the persons to whom it applies; in the public recognition of its Courts and Judges, as having proper legal jurisdiction; and in the enforcement of the sentences of

Pension

AIR 1959 All 769 (770). (Pension Act, 1871) The allowance so payable to a retiring government servant, in recognition of his past services is 'pension' within the meaning of clause 2 of Article VIII of the Merger

Ownership

of rights to use and enjoy property, including right to transmit it to others. Ownership is de jure recognition of a claim to certain property. Possession is the objective realisation ownership. It is the de facto exercise

Owner's equity

Owner's equity, is the residual claim of the owners of the business on its assets after recognition of the liabilities of the business. Owner's equity repre-sents the amounts contributed by the owners to the business,

Naturalis possessio

an object. This type of possession exists when the possessor's holding of the object is limited by a recognition of another person's outstanding right the holder may be a usufructuary, a bailee, or a servant, Black's Law

Mortgage

debt or loan, with interest and expenses, at any period within twelve (formerly twenty) years after the last recognition of the mortgage security by the mortgagee; and this because equity deems the non-compliance with the proviso for

Commercial

Commercial, agreement by a company to render consultancy services can be called 'commercial in nature', R.M. Investment and Trading Co. (P.) Ltd. v. Boeing Co., AIR 1994 SC 1116 (1139). [Foreign Awards (Recognition and Enforcement) Act,...

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