Sec 41 - Law Dictionary Search Results
Home Dictionary Name: sec 41 Page: 3securities and exchange commission (sec)
securities and exchange commission (sec) The five-member board appointed by the president that regulates and oversees stock trading and enforces federal securities statutes. Source: FindLaw ...
Tithe Rent-Charge
Tithe Rent-Charge. A charge on land, substituted by commutation for that charge on the produce of the land for the benefit of the Church, which was called tithe from being the tenth part of the increase yearly arising and renewing from the profits of lands, the stock upon lands, and the personal industry of the inhabitants; the first species being usually called pr'dial, the second mixed, the third personal.This commutation was effected by a procedure set on foot by the (English) Tithe Act, 1836 (6 & 7 Wm. 4, c. 71), amended by subsequent Acts. See Chitty's Stat., tit. 'Tithe Rent-Charge.' The amount to be paid was annually adjusted, according to the price of corn.The commutation was effected in one of two ways-either by a voluntary parochial agreement, con-firmed by the commissioners, or by the compulsory award of the commissioners. The value, either voluntarily agreed upon or awarded by the commissioners, was considered as the amount of the total rent-charge to be paid in respect of ...
Law Reform (UK)
Law Reform (UK). By the Law Reform (Miscellaneous Provisions) Act, 1934 (24 & 25 Geo. 5, c. 41), all causes of action shall with certain exceptions survive on the death (after the 24th July, 1934) of any person against or for the benefit of his estate. See actio personalis, and by s. 1(2) it is enacted:Where a cause of action survives as aforesaid for the benefit of the estate of a deceased person the damages recoverable for the benefit of the estate of that person:-(a) shall not include any exemplary damages;(b) in the case of a breach of promise to marry shall be limited to such damage, if any, to the estate of that person as flows from the breach of promise to marry;(c) where the death of that person has been caused by the act of omission which gives rise to the cause of action, shall be calculated without reference to any loss or gain to his estate consequent on his death, except that a sum in respect of funeral expenses may be included.See Rose v. Ford, (1937) 53 TLR 873.The right...
Piracy
Piracy [fr. pirata, Lat.], the commission of those acts of robbery and violence upon the sea, which if committed upon land wold amount to felony. Pirates hold no commission or delegated authority from any sovereign or State, empowering them to attack others. They can, therefore, be only regarded in the light of robbers. They are, as Cicero has truly stated, the common enemies of all (communes hostes omnium); and the law of nations gives to every one the right to pursue and exterminate them without any previous declaration of war (see Piracy Jure Gentium, 1934, AC 586, where a frustrated attempt was held to be piracy by that law); but it is not allowed to kill them without trial, except in battle. Those who surrender or are taken prisoners must be brought before the proper magistrates, and dealt with according to law. By the ancient Common Law of England, piracy, if committed by a subject, was held to be a species of treason, being contrary to his natural allegiance; if by an alien, to ...
Interest
Interest, an interest for the purposes of the regula-tion was not limited to a direct financial interest and included membership of a panel such as the panel of which the claimant's solicitors were members that, therefore, the Claimant's Solicitors had had an interest in recommending the insurance which they recommend to her; that, in the circumstances, there had not been sufficient disclosure of that interest; and that, accordingly, there had been a material breach of regulation 4(2)(e)(ii) and the conditional fee agreement was unenforceable [See (English) Conditional Fee Agreements Regulation, 2000 (SI 2000/692), reg. 4(2)(c)(e)(ii)], Garrett v. Halton BC, (2007) 1 WLR 554 CA Cir.Interest, inter alia as the compensation fixed by agreement or allowed by law for the use or detention of money, or for the loss of money by one who is entitled to its use; especially, the amount owed to a lender in return for the use of the borrowed money [Black's Law Dictionary (7th Edn.) pp. 393-94 para 3...
University
University, an association of learners, and of teachers and examiners of the learners, upon whose report the association grants upon whose report the association grants titles called 'degrees' (such as 'Master of Arts,' 'Doctor of Divinity'), showing that the holders have attained some definite proficiency.The English Universities are those of Oxford, Cambridge (incorporated by 13 Eliz. c. 29, by the two names of the Chancellor, Masters and Scholars of the University of Oxford and Cambridge respectively, with the direction that they shall be called and named by none other name for evermore), Durham, London, Victoria of Manchester, Birmingham, Liverpool, Leeds, Sheffield, Bristol, and East Midland University Nottingham, the graduates of which (see University of Liverpool Act, 1904; (English) University of Leeds Act, 1904; and (English) Sheffield University Act, 1914) have equal statutory privileges and exemptions; and Reading University (see 18 & 19 Geo. 5, c. 25). There is also the Uni...
High Court
High Court, means any court which is deemed for the purposes of this Constitution to be a High Court for any State and includes--(a) any Court in the territory of India constituted or reconstituted under this Constitution as a High Court, and(b) any other Court in the territory of India which may be declared by Parliament by law to be a High Court for all or any of the purposes of this Con-stitution. [Constitution of India, Article 366(14)]The High Court in s. 10F of the Companies Act means the High Court having jurisdiction in relation to the place at which the registered office of the company concerned is situate as indicated by s. 2(11) read with s. 10(1) (a) of the Act, Strideuell Leathers (P) Ltd. v. Bhankepur Simbhaoli Beverages Ltd., AIR 1994 SC 158 (165): (1994) 1 SCC 34. (Companies Act, 1956, s. 10F)Every High Court shall be a Court of record meaning thereby all the original record of the Court will be preserved by the said Court and it shall have all the powers of such a supe...
Title, Covenants for
Title, Covenants for. In every conveyance of real or personal property expressed to be conveyed by the instrument of conveyance made on or after the 1st January, 1882, and in regard to assents by personal representatives, after 1925, of land, certain 'covenants for title' (being for the most part usually expressed in the conveyance before that date), of which the following is an abstract, are implied by virtue of the 7th s. of the (English) Conveyancing Act, 1881 (44 & 45 Vict. c. 41), replaced and extended by the (English) Law of Property Act, 1925, s. 76, and 2nd Sch., but in the following cases A and B the covenants are limited, while in cases C and D they are unqualified and absolute, see David v. Sabin, (1893) 1 Ch 523:-(A) In a conveyance for valuable consideration other than a mortgage by a person expressed to convey as beneficial owner:-That, notwithstanding anything done, omitted, etc., by the person conveying, or anyone through whom he derives title otherwise than by purchase...
Shall
Shall, a word of slippery semantics in a rule is not decisive and the context of the statute, the purpose of the prescription, the public injury in the event of neglect of the rule and the conspectus of circumstances bearing on the importance of the condition have all to be considered before condemning a violation as fatal, State of Punjab v. Shamlal Murari, (1976) 1 SCC 719.Shall, does not always mean that an act is obligatory or mandatory and it depends upon the context in which the word 'shall' occurs and the other circumstances, Ramnath Narayana Mauzo of Margoa v. Union Government of India, AIR 1968 Goa 85.Shall, does not always mean that the enactment is obligatory or mandatory. It depends upon the context in which the word shall occurs and the other circumstances, State of Madhya Pradesh v. Azad Bharat Finance Co., (1966) (Supp) SCR 473: (1967) 1 SCJ 815.Shall, in a statute, though generally taken in a mandatory sense, does not necessarily mean that in every case it shall have th...
Sale price
Sale price, 'Sale Price' means the amount payable to a dealer as consideration for the sale of any goods, less any sum allowed as cash discount according to the practice normally prevailing in the trade, but inclusive of any sum charged for anything done by the dealer in respect of the goods at the time of or before the delivery thereof other than the cost of freight or delivery of the cost of installation in case where such cost is separately charged and the expression 'purchase price' shall be construed accordingly, Shree Gopal Industries Ltd. v. State of Rajasthan, AIR 1971 SC 2054: (1971) 2 SCC 532.(ii) Under s. 4 of the Madhya Pradesh General Sales Tax Act, 1958 the liability to pay tax is that of the dealer. The purchaser has no liability to pay tax. There is no provision in the Act from which it can be gathered that the Act imposes any liability on the purchaser to pay the tax imposed on the dealer. If the dealer passes on his tax burden to his purchasers he can only do it by au...
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