Redeem - Law Dictionary Search Results
Home Dictionary Name: redeem Page: 2 Page 2 of about 71 results ( seconds)Suit for redemption
Suit for redemption, a suit for redemption is thus defined by this section as a suit for enforcement of right to redeem, and that right of redeem consists of the three reliefs which the mortgagor is entitled to under clauses (a), (b) and (c) mentioned above, on payment or tender, at a proper date and place, of the mortgage money. Consequently, a suit can be said to be a suit for redemption if the three rights enumerated in this section as constituting the right to redeem are claimed in the suit, K. Manick Chand v. Elias Saleh Mohd Sait, AIR 1969 SC 751 (758): (1969) 1 SCC 206. (Transfer of Property Act, 1882, s. 60)...
Redemption
Redemption, is the act of redeeming, which in its ordinary meaning is equal to bringing off a charge or obligation by payment--.By the down payment, the entire land revenue to be recovered from that land was redeemed.Redemption, is the act of redeeming, which, in its ordinary meaning is equal to bringing off a charge or obligation by payment, Sarish Chandra v. CLT, AIR 1961 SC 487: (1961) 1 SCJ 495.Redemption. 1. A paying off of a loan (see FUNDS). The term is used especially with reference to the paying off of a mortgage debt. An action of redemption is a suit brought to compel the mortgagee to recover the property to the mortgagor on the latter paying the mortgage debt. See EQUITY OF REDEMPTION; PROVISO FOR REDEMPTION.2. Commutation or the substitution of one lump payment for a succession of annual ones: e.g., see the Land Tax and the Tithe Redemption Acts and many other statutes.Redemption is the act of redeeming which in its ordinary meaning is equal to bringing off a charge or obl...
Annuity
Annuity, in order to constitute an annuity, the payment to be made periodically should be a fixed or predetermined one, and it should not be liable to any variation depending upon or on any ground relating to the general income of the fund or estate which is charged for such payment, CWT v. P. K. Banerjee, (1981) 1 SCC 63 (75): AIR 1981 SC 401. [Wealth-Tax Act, 1957, s. 2(e)(1)(iv)]It is a right to receive a specified sum and not an aliquot share in the income arising from any fund or property. Ordinarily an annuity is a money payment of a fixed sum annually made and is a charge personally on the grantor, CWT v. Arundhati Balkrishna, (1970) 1 SCC 561 (565): AIR 1971 SC 915. [Wealth Tax Act, 1957, s. 2(e)(iv)]An annuity is a fixed sum payable annually either in perpetuity or for any less period. When charged upon land either freehold or leasehold both, exclusively of purely personal estate, it is strictly a rent charge; see (English) Real Property Limitation Act, 1833 (3 & 4 Will. 4, c....
Debenture
Debenture [fr. debeo, Lat., to owe] may be defined generally as a charge in writing [not necessarily sealed, see British India, etc., Co. v. Commissioners of Inland Revenue, (1881) 7 QBD 165] of certain pro-perty with the repayment at a time fixed of money lent by person therein named at a given interest, but the term is a very elastic one. The word 'debenture' is of ancient origin and appears to have been in use five centuries ago (Palmer's Company Precedents, Pt. III., p. 1); and a document which, though it mentions to security and is only a promise to pay, is properly described as a debentures, and as a marketable security will require to be stamped as such, Spenyer v. Inland Revenue Commissioners, (1907)1 KB 246. By the (English) Companies Act, 1929, s. 380, a debenture is defined as including debenture stock, bonds or other securities of a company whether constituting a charge on the assets of the company or not. The charge created by debentures as a rule is fixed on the company's...
Foreclosure
Foreclosure. A mortgagee, or any person claiming an interest in the mortgage under him, can compel the mortgagor, after breach of the condition, to elect either to redeem the pledge or that his equity of redemption be extinguished by an order of the Court. The foreclosure of mortgages is one of the matters assigned to the Chancery Division of the High Court. [Jud. Act, 1925, s. 56(1)]A legal proceeding to terminate a mortgagor's interest in property, instituted by lender either to gain title or to force a sale in order to satisfy the unpaid debt secured by property, Black's Law Dictionary, 7th Edn.Law of Property Act, 1925 (English) s. 91, replacing the Conveyancing Act, 1881 (44 & 45 Vict. c. 41), s. 25, replacing the (English) Chancery Procedure Act, 1852 (15 & 16 Vict. c. 86), s. 48, empowers either mortgagor or mortgagee to obtain an order for sale instead of redemption or foreclosure.See ss. 88 and 89 of the (English) L.P. Act, 1925, in regard to the estate acquired by the mortgag...
Re demption
The act of redeeming or the state of being redeemed repurchase ransom release rescue deliverance as the redemption of prisoners taken in war the redemption of a ship and cargo...
Silver certificate
A certificate issued by a government that there has been deposited with it silver to a specified amount payable to the bearer on demand In the United States and its possessions it is issued against the deposit of silver coin and is not legal tender but is receivable for customs taxes and all public dues In the United States the redeemability in silver of silver certificates was discontinued in the 1970s they are still 1997 accepted as money at the face dollar value but cannot be redeemed in silver...
Irredeemable
Not redeemable that can not be redeemed not payable in gold or silver as a bond used especially of such government notes issued as currency as are not convertible into coin at the pleasure of the holder...
redemptioner
redemptioner : one that redeems ;specif : one that redeems real property under equity of redemption or right of redemption ...
bond
bond 1 a : a usually formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure to perform or abstain will obligate the person or often a surety to pay a sum of money or will result in the forfeiture of money put up by the person or surety ;also : the money put up NOTE: The purpose of a bond is to provide an incentive for the fulfillment of an obligation. It also provides reassurance that the obligation will be fulfilled and that compensation is available if it is not fulfilled. In most cases a surety is involved, and the bond makes the surety responsible for the consequences of the obligated person's behavior. Some bonds, such as fidelity bonds, function as insurance agreements, in which the surety promises to pay for financial loss caused by the bad behavior of an obligated person or by some contingency over w...
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