Reserve City - Law Dictionary Search Results
Home Dictionary Name: reserve cityReserve city
In the national banking system of the United States any of certain cities in which the national banks are required U S Rev Stat sec 5191 to keep a larger reserve 25 per cent than the minimum 15 per cent required of all other banks The banks in certain of the reserve cities specifically called central reserve cities are required to keep their reserve on hand in cash banks in other reserve cities may keep half of their reserve as deposits in these banks U S Rev Stat sec 5195...
Reserve
Reserve, the term 'reserve' is not defined in the Act. The dictionary meaning of the word 'Reserve' is: To keep for future use or enjoyment; to store up for some time or occasion; to refrain from using or enjoying at once. To keep back or hold over to a later time or place or for further treatment. To set apart for some purpose or with some end in view; to keep for some use. To retain or preserve for certain purposes.' (Oxford Dictionary). In Webster's New International Dictionary, Second Edition, page 2118, 'Reserve' is defined as follows:To keep in store for future or special use; to keep in reserve; to retain, to keep, as for oneself. To keep back; to retain or hold over to a future time or place. To preserve, Commissioner of Income Tax v. Century Spinning and Manufacturing Co., AIR 1953 SC 501: (1954) SCR 203.(ii) As to what the word 'Reserves' as used in the Business Profits Tax Act connotes, was considered by this Court in Commissioner of Income-tax v. Century Spinning & Manufact...
Country bank
A national bank not in a reserve city...
Undivided profits
Undivided profits, the amount designated as 'Undivided profits' is a part of the reserves and has to be taken into account when computing the capital and reserves within Rule 2(1) of Schedule II of the Act, First National City Bank v. CIT, AIR 1961 SC 812: (1961) 3 SCR 371. [Business Profits Tax Act, 1947, Sch. II, Rule 2(1)]...
Magna Carta
Magna Carta, [Latin 'great charter'] The English charter that King John granted to the barons in 1215 and Henry III and Edward I later confirmed. It is generally regarded as one of the great common-law documents and as the foundation of constitution liberties. The other three great charters of English Liberty are the Petition of Right (3 Car. (1628)), the Habeas Corpus Act (31 Car. 2 (1679)), and the Bill of Rights (1 Will. SM. (1689)). Also spelled Magna charta, Black's Law Dictionary, 7th Edn., p. 963.This Great Charter is based substantially upon the Saxon Common Law, which flourished in this kingdom until the Normaninvasion consolidated the system of feudality, still the great characteristic of the principles of real property. The barons assembled at St.Edmund's Bury, in Suffolk, in the later part of the year 1214, and there solemnly swore upon the high alter to withdraw their allegiance from the Crown, and openly rebel, unless King John confirmed by a formal charter the ancient li...
Advowson
Advowson [fr. advocare, Lat.], a right of presentation to, or the patronage of, a church or spiritual living; the person possessed of this right or patronage being called the patron or advocate (patronus aut advocatus), on account of his obligation to protect and defend the privileges of the particular benefice. An advowson is in the nature of a temporal property and spiritual trust. For the origin and history of advowsons, consult Mirehouse on Advowsons, pp. 1-6.There are several kinds of advowsons, viz.:--(I.) Presentative advowsons, subdivided into,Appendant.In gross, andPartly appendant, and partly in gross.(II.) Collative advowsons.(I.) A presentative advowson appendant is a right of patronage annexed to the possession of some corporeal hereditament. Thus, where an advowson has immemorially passed together with a manor or reputed manor by a simple grant of such manor, without particularly referring to the advowson, it is then said to be appendant, i.e., annexed to the demesnes of ...
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