Residual - Law Dictionary Search Results
Home Dictionary Name: residual Page: 2Executor
Executor. A person appointed by a testator to carry out the directions and requests in his will, and to dispose of the property according to his testamentary provisions after his decease.One who performs or carries out some act, Black's Law Dictionary, 7th Edn., p. 591.The leading duties and responsibilities of an executor may be thus classed:-(1) He will not be allowed as against creditors extravagant funeral expenses if the testator died insolvent; and if he neglects to secure the property, and loss ensue, he will be personally liable for a devastavit, but will not be responsible for mere neglect to take out probate (Re Stevens, (1898) 1 Ch 162). See DEVASTAVIT.(2) By operation of law by virtue of his office he takes a title to the personal property of the testator which vests him with full power ovr the testator's chattels, Attenborough v. Solomon, 1913 AC 76, and by Administration of Estates Act, 1925, s. 1, extending and amending the Land Transfer Act, 1897, real property devolves...
Production
Production, has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufacture, Commissioner of Income Tax v. NV Budharaga & Company, 1993 (70) Taxman 312: AIR 1993 SC 2529: 1993 Tax LR 1117: 1993 (2004) ITR 412: AIR 1993 SCW 3317.Means the separation of opium, poppy straw, coca leaves or cannabis from the plants from which they are obtained. [Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985), s. 2 (xxii)]In relation to a feature film, includes any of the activities in respect of the making thereof. [Cine-Workers and Cinema Theatre Workers (Regulation of Employment) Act, 1981 (5 of 1981), s. 2(i)]The word 'production' has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufacture. The word 'production' or 'produce' when used in juxtaposition with the word 'manufacture' takes in bri...
Residual
Pertaining to a residue remaining after a part is taken...
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, plus the accumulated income of the business since its formation, less any amounts that have been distributed to the owners, Accounting and Finance for Lawyers in a Netshell, Charles H. Meyer, 4 (1995).Means the aggregate of the owners' financial interest in the assets of a business entity; the capital contributed by the owners plus any retained earnings. Also termed (in a corporation) shareholders' equity; stockholders' equity, Black's Law Dictionary, 7th Edn., p. 1131....
Evacuee
Evacuee, The evacuee cannot take possession of his property. He cannot lease that property. He cannot sell that property without the consent of the Custodian. He can not mortgage that property. He can not realise the income of the property. On the other hand, the Custodian can take possession of that property. He can realise its income. He can alienate the property and he can under certain circumstances demolish the property. All the rights that the evacuee had in the property he left in Pakistan were exercisable by the Custodian excepting that he could not appropriate the proceeds for his own use. The evacuee cannot exercise any rights in that property except with the consent of the Custodian. He merely had some beneficial interest in that property. No doubt that residual interest in a sense is ownership, R.B. Jodha Mal Kuthiala v. Commissioner of Income-tax, (1971) 3 SCC 369: AIR 1972 SC 126: (1972) 2 SCR 127....
British subject
British subject, no longer denotes a status common to citizens of members of the commonwealth, and instead, for purposes of United Kingdom law, denotes only a restricted and residual category of persons who are not British citizens, Halsbury's Laws of England, Vol. 6, 4th Edn., Para 812, p. 359....
Beneficial interest
Beneficial interest, means (1) a company's residual interests under pension and employee's share schemes; (2) employer's charges and other rights of recovery; and (3) on trustees right to expenses, remuneration and indemnity, Halsbury's Laws of England, Vol. 7(1), 4th Edn., Para 343, p. 235....
Self excite
To energize or excite the field magnets of a dynamo by induction from the residual magnetism of its cores leading all or a part of the current thus produced through the field magnet coils...
Residuous
Remaining residual...
Pitch
Pitch, pitch is derived by distillation of 'tar' wherein the oils-light oil, naphthalene oil, creosote oil and other residual oils are removed. Depending on the extent of oil removed, 'pitch' may be 'soft pitch' or 'medium soft pitch' or 'medium hard pitch' or 'hard pitch'. Once 'pitch' is obtained, it is a completely different product from 'tar', CCE v. Steel Authority of India Ltd., (2004) 9 SCC 682 (685)....
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