Second Rate - Law Dictionary Search Results
Home Dictionary Name: second rateSecond rate
Of the second size rank quality or value as a second rate ship second rate cloth a second rate champion...
Second class
Of the rank or degree below the best or highest inferior second rate as a second class house a second class passage a second class citizen...
Rate
Rate, A contribution levied by some public body for a public purpose, as a poor rate, a highway rate, a sewers rate, upon, as a general rule, the occupiers of property within a parish or other area.Proportional or relative value; the proportion of which quantity or value is adjusted, Black's Law Dictionary, 7th Edn., p. 1268.The term 'rate' is also used to mean a charge by a water, gas, railway, or other public undertaking for services rendered e.g., (English) Railways Act, 1921, s. 20; Metropolitan Water Board Charges Act, 1921 (11 & 12 Geo. 5, c. xciv.).The poor rate was levied under the (English) Poor Relief Act, 1601 (43 Eliz. s. 2), on the occupiers in each parish of 'lands, houses, tithes, coal mines, or saleable underwoods,' and the (English) Rating Act, 1874, extended the liability to rates to: (1) land used for a plantation or a wood, or for the growth of saleable underwood, and not subject to any right of common; (2) rights of fowling, shooting, taking, or killing game, or ra...
Agricultural rates
Agricultural rates, The (English) Agricultural Rates Act, 1896, as amended by the (English) Agricultural Rates Act, 1923, provides that the occupier (including the owner if rated in place of the occupier) of agricultural land shall be liable to one quarter only of the rate in the pound payable in respect of buildings and other hereditaments. These exemptions were preserved by the (English) Rating and Valuation Act, 1925, s. 22, but agricultural land and buildings are now entirely derated, see the (English) Rating and Valuation (Apportionment) Act, 1928, and the Local Government Act, 1929, s. 67....
adjustable-rate mortgage (arm)
adjustable-rate mortgage (arm) a mortgage loan that does not have a fixed interest rate. During the life of the loan the interest rate will change based on the index rate. Also referred to as adjustable mortgage loans (AMLs) or variable-rate mortgages (VRMs). Source: U.S. Department of Housing and Urban Development ...
Current official scale of rates
Current official scale of rates, the expression 'current' means 'vogue' or 'prevalent'; and 'current rate' may mean the rate obtaining at a particular time or at a future time or from time to time. The terms goes well with the present, future and recurrent, the words 'current official' scale of rates' in para IV of the agreement mean the official scale of rates current or prevalent from time to time during the currency of the agreement, Gopisetti Venkatratmam v. Vijayawada Municipality, AIR 1966 SC 353 (354, 355): (1965) 3 SCR 276. [Electricity Act, (9 of 1910), s. 21(2)]...
Quarter-rating
Quarter-rating. The rating on only one-fourth part of the net annual value-a privilege enjoyed by owners of railways and other kinds of property under s. 211 of the Public Health Act, 1875. But now as to exemptions, total or otherwise, from rates in the case of agricultural, industrial and freight transport hereditaments, see the Rating and Valuation Acts, 1925 to 1932; Bailey v. Stoke on Trent Assessment Committee, etc., (1931) 1 KB 385. [The Rating and Valuation (Apportionment) Act, 1928, and Local Government Act, 1929, ss. 67-73]...
Rate applicable to the total income of the company
Rate applicable to the total income of the company, the expression 'rate applicable to the total income of the company' meant the rate actually applied. The clause referred to the specific or definite rate which was determined to be applicable to the taxable income of the company for that specific year and not to the rate prescribed by the Act for the relevant year generally in reference to incomes of companies, Rajputana Agencies Ltd. v. Commissioner of Income Tax, AIR 1959 SC 265: (1959) Supp 1 SCR 142....
Second offence
Second offence, the word 'second' in the ex-pression 'second offence' in s. 16(1) of the Prevention of Food Adulteration Act, 1954, means second in time, and not second of the same type. The 'second offence' must be an offence under the Act although it is says that if any person does any of the acts mentioned in cls. (a) to (g) in it, he shall be punishable for the first offence with a certain penalty, for the second offence with a higher penalty and for the third a still higher penalty, Jagdish Prasad v. State of U.P., AIR 1966 SC 290 (292): (1965) 3 SCR 806. See also AIR 1960 Ker 240 (241). [Prevention of Food Adulteration Act, 1954, s. 16(1)]The words 'second offence' must, mean any act which is an offence under any of the clauses in the sub-s. which has been done later in point of time after a conviction for an offence under the Act, no matter whether the acts or omissions constituting the two offences are of the same type or not, Jagdish Prasad v. State of Uttar Pradesh, AIR 1986 ...
annual percentage rate (apr)
annual percentage rate (apr) a measure of the cost of credit, expressed as a yearly rate. It includes interest as well as other charges. Because all lenders, by federal law, follow the same rules to ensure the accuracy of the annual percentage rate, it provides consumers with a good basis for comparing the cost of loans, including mortgage plans. APR is a higher rate than the simple interest of the mortgage. Source: U.S. Department of Housing and Urban Development ...
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