Remaining Balance - Law Dictionary Search Results
remaining balance
remaining balance the amount of principal that has not yet been repaid. Source: U.S. Department of Housing and Urban Development ...
Debt
Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed to be due to him; and it was generally founded on some contract alleged to have taken place between the parties, or on some matter of fact from which the law would imply a contract between them. This was debt in the debet, which was the principal and only common form. There is another species mentioned in the books, called debt in the detinet, which lay for the specific recovery of goods, under a contract to deliver them. An action of debt as a technical term is now obsolete. See PLEADINGS. The order of the payment of debts and expenses out of legal assets in an ordinary administration action in the Chancery Division of the High Court is as follows:-1. Funeral expenses, which in the case of an insolvent estate must be strictly reasonable and necessary only, the executor or administrator being personally liabl...
earnings
earnings 1 : something (as wages or dividends) earned as compensation for labor or the use of capital 2 : the balance of revenue for a specified period that remains after deducting related costs and expenses incurred compare profit ...
net income
net income : the balance of gross income remaining after all allowable deductions and exemptions are taken ...
Ferris wheel
An amusement device consisting of a giant power driven vertically oriented steel wheel revolvable on its horizontal stationary axle and carrying a number of balanced passenger cars or open seats around its rim the seats are suspended so as to remain horizontal as the wheel rotates and depending on the size of the wheel the passengers when they reach the top may have a grand vista of the surrounding area so called after G W G Ferris American engineer who erected the first of its kind for the Worlds Columbian Exposition in Chicago in 1893...
Bank
Bank, Commercially it is a place where money is deposited for the purpose of being lent out at interest, returned by exchange, disposed of to profit, or to be drawn out again as the owner shall call for it. Special provisions are contained in the (English) Companies Act, 1929 relating to Banks. By s. 358, no company, association or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of balance sheets, see s. 129 and ANNUAL RETURNS, ss. 108 and 361. See also JOINT STOCK BANKS and LIMITED LABILITY, and consult Grant, Paget, or Walker on Banking, Chitty's Statutes, tit. 'Bank.'Means financial institution engaged in the accepting of deposits of money, granting...
Hire-purchase system
Hire-purchase system. A system whereby the owner of goods lets them on hire for periodic payments by the hirer upon an agreement that when a certain number of payments have been completed, the absolute property in the goods will pass to the hirer, but so that the hirer may return the goods at any time without any obligation to pay any balance of rent accruing after return, until the conditions have been fulfilled, the property remains in the owner. The instrument by which the hire-purchase is effected does not ordinarily require registration under the Bills of Sale Acts [Ex parte Crawcour, (1878) 9 Ch D 419]; and the hirer is 'reputed owner' within the Bankruptcy Act [Ex parte Brooks, (1993) 23 Ch D 261]; but the hirer does not 'agree to buy' within the Factors Act or Sale of Goods Act so as to be able to sell or pledge the goods as if he were a 'mercantile agent', Helby v. Matthews, 1895 AC 471; Brooks v. Biernstein, (1909) 1 KB 98. Distinguish from agreements such as in Lee v. Butler...
Unclaimed property
Unclaimed property. This devolves on the Crown at Common Law. Unclaimed property may be dealt with under the heads of (1) Government Stock, (2) Chancery Funds, (3) Stock in Public Companies, (4) Bankers' Balances, (5) Deposits with Bankers for Safe Custody, and (6) Found Property.(1) Government Stock.-The National Debt Act, 1870 (33 & 34 Vict. c. 71), ss. 51 et seq., as extended by 20 & 21 Geo. 5, c. 28, s. 49 provides that stock on which no dividend has been claimed for ten years must be transferred to the National Debt Commissioners. Lists of names in which the stock stood, with residence, description and amount of stock and date of transfer, are to be kept at the Bank of England [or Ireland, but see 13 Geo. 5, c. 2, s. 6 (d)] and at the National Debt Office, open to inspection, and also kept in duplicate at the National Debt Office. The stock may be re-transferred to persons showing title after, in the case of stock exceeding 20l., three months' public notice by advertisement. A sec...
lien
lien [Anglo-French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind] : a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or esp. by operation of law ;specif : a security interest created esp. by a mortgage assessment lien : a lien that is on property benefiting from an improvement made by a municipality and that secures payment of the taxes assessed to pay for the improvement attachment lien : a lien acquired on property by a creditor upon levy of an attachment car·ri·er's lien : a lien against freight conferring on the carrier the right to retain the property until the amount due is paid charging lien : a lien attaching to a judgment or recovery awarded to a plaintiff and securing payment of the plaintiff's attorney's fees and expenses called also special lien choate lien : a lien that requires no further action to be made enforceable and th...
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
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