Scheduled Debtor - Law Dictionary Search Results

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Scheduled debtor

Scheduled debtor, means a person who is either a small farmer or a rural artisan or an agricultural labourer and who is ordinarily resident in the State of Orissa, Yernagula Kamaraju v. Manda Dandasi, (1989) 67 Cut LT 615....

unscheduled debt

unscheduled debt A debt that should have been listed by the debtor in the schedules filed with the court but was not. (Depending on the circumstances, an unscheduled debt may or may not be discharged.) Source: Administrative Office of the U.S. Courts ...

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...

Mortgage

Mortgage [fr. mort, Fr., dead, and gage, pledge], a deed pledge; a thing put into the hands of a creditor.A mortgage is the creation of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned in a clause technically called the proviso for redemption, he will be entitled to have his property again free from the mortgagee's claim; but should he not comply with such proviso, the legal estate becomes perfected in the mortgagee, i.e., indefeasible, and so los...

Conveyance

Conveyance, an instrument which transfers property from one person to another, defined for the purposes of the Law of Property Act, 1925, s. 205, as including 'mortgage charge, lease, assent, vesting declaration, vesting instrument, disclaimer, release and every other assurance of property or of any interest therein by any instrument, except a will.' See CONVEYANCING ACT; DEED; LAW OF PROPERTY; TRUSTS.Includes a conveyance on sale and every instrument by which property, whether movable or immovable, is transferred inter vivos and which is not otherwise specifically provided for by Schedule I. [Indian Stamp Act, 1899 (2 of 1899), s. 2 (10)]Includes a vessel, an aircraft and a vehicle. [Customs Act, 1962 (52 of 1962), s. 2 (9)]Means a conveyance of any description whatsoever and includes any aircraft, vehicle or vessel. [Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985), s. 2 (viii)]Means any vehicle, vessel, aircraft or any other means of transport including any animal. ...

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