Section 103 - Law Dictionary Search Results
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securities 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 ...
good
good bet·ter best 1 : commercially sound or reliable [a risk] 2 a : valid or effectual under the law b : free of defects 3 a : characterized by honesty and fairness b : conforming to a standard of virtue [shall hold their offices during behavior "U.S. Constitution art. III"] ;also : characterized by or relating to good behavior n 1 : advancement of prosperity and well-being [for the of the community] 2 : an item of tangible movable personal property having value but usually excluding money, securities, and negotiable instruments usually used in pl. : as a pl : all things under section 2-105 of the Uniform Commercial Code that are movable at the time of identification to the contract for sale other than the money that is to be paid, investment securities, and choses in action b pl : all things under section 9-104 of the Uniform Commercial Code that are movable at the time that a security interest in them attaches or that are fixtures but excluding money, documents,...
Receipt
Receipt, an acknowledgment in writing of having received a sum of money, which is prima facie but not conclusive evidence of payment, Skaife v. Jackson, (1824) 3 B&C 421.The act of receiving something; a written acknow-ledgment that something has been received, Black's Law Dictionary, 7th Edn.A stamp duty first imposed in 1783 was progressively ad valorem, until 1853, when the uniform 1d. rate was imposed; this was increased to 2d. by the Finance Act, 1920.For the purposes of the Stamp Act, 1891, the expression 'receipt' is defined (s. 101) as including--(1) Any note, memorandum, or writing whereby any money amounting to two pounds or upwards, or any bill of exchange or promissory note for money amounting to two pounds or upwards, is acknow-ledged or expressed to have been received or deposited or paid, or whereby any debt or demand, or any part of a debt or demand, of the amount of two pounds or upwards, is acknowledged to have been settled, satisfied, or discharged, or which signifie...
Weights and measures
Weights and measures, instruments for reducing the quantity and price of merchandise to a certainty, that there may be the less room for deceit and imposition. See AVOIRDUPOIS; TROY WEIGHT; and METRIC SYSTEM.The adjustment of weights and measures is a prerogative of the Crown, and has from an early date been regulated by statute-the Weights and Measures Act, 1878. The 25th and 26th sections enact that:25. Use or Possession for Use.-Every person who uses or has in his possession for use for trade any weight, measure, scale, balance, steelyard, or weighing machine which is false or unjust, shall be liable to a fine not exceeding 5l., or in the case of a second offence 20l. [as amended by the W. and M. Act, 1889], and any contract, bargain, sale, or dealing made by the same shall be void, and the weight, measure, scale, balance, or steelyard shall be liable to be forfeited.26. Fraud in Use.-Where any fraud is wilfully committed in the using of any weight, measure, scale, balance, steelyar...
Action
Action, conduct, something done; also the form prescribed by Law for the recovery of one's due, or the lawful demand of one's right. Bracton (Bk. 3, cap. 1) defines it:-Actio nihil aliud est quam jus prosequendi in judicio quod alicui debetur.-(An action is nothing else than the right of suing in a court of justice for that which is due to some one.) Actions are divided into criminal and civil: criminal actions are more properly called prosecutions, and perhaps actions penal, to recover some penalty under statute, are properly criminal actions. There were formerly three classes of actions in England: personal actions, in which the plaintiff sought to recover a debt or damages from the defendant; real actions, in which he sought to establish his title to land or other hereditaments; mixed actions, in which he sought only to establish his right to possession of land. All forms of action are now abolished, but there still inevitably remains the distinction between actions in personam brou...
lease
lease [Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner ;also : the act of such conveyance or the term for which it is made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of goods for a term in return for consideration.” build·ing lease : ground lease in this entry consumer lease : a lease made by a lessor regularly engaged in the selling or leasing of a product to a lessee who is leasing the product primarily for his or her personal or household use finance lease : a lease in which the lessor acquires g...
four-month rule
four-month rule : a rule requiring that an action be taken within four months: as a : a rule in some states requiring that a defendant be tried within four months of the arrest, charge, or arraignment b : a rule set out in section 9-103(1)(d) of the Uniform Commercial Code that provides a secured creditor four months to perfect a security interest again in the state to which the collateral perfected previously in another state has been moved ...
Escheat
Escheat [eschet or echet, formed from the word eschoir or echoir, Fr., to happen], a species of reversion; it is a fruit of seigniory, the Crown or lord of the fee, from whom or from whose ancestor the estate was originally derived, taking it as ultimus h'res upon the failure, natural or legal, of the intestate tenant's family.Escheat to the Crown, the Duchy of Lancaster, the Duke of Cornwall and to mesne lords has been abolished by (English) Administration of Estates Act, 1925, s. 45(1). The right of the Crown to 'bona vacantia' now includes real property under (English) A.E. Act, 1925, s. 46. See BONA VACAN-TIA.The title of the Crown was ascertained by inquiry regulated by rules under the (English) Escheat Procedure Act, 1887 (50 & 51 Vict. c. 53), which repealed, as practically inoperative, the numerous statutes from 29 Edw. 1, by which officers called 'escheators' were authorized to hold such inquiries.If differed from a forfeiture [now abolished for treason or felony by the (Engli...
Reasonable
Reasonable, has in law prima facie meaning of reasonable in regard to those circumstances of which the actor, called upon to act reasonably knows or ought to know, Gujarat Water Supply & Sewerage Board v. Unique Erectors (Gujarat) Pvt. Ltd., (1989) 1 JT SC 157: (1989) 39 ELT 493: AIR 1989 SC 973; Rena Drego v. Lalchand Soni, (1998) 3 SCC 341.Reasonable, has in law the prima facie meaning of reasonable in regard those circumstances of which the actor, called on to act reasonably, knows or ought to know, Rena Drego v. Lalchand Soni, (1998) 3 SCC 341.Means rational, according to dictate of reason and not excessive or immoderate. If something is not per se preposterous or absurd, it must he held to be reasonable. 'The action is called reasonable which an informed, intelligent, just minded, civilized man could rationally favour. The concept of reasonable-ness does not exclude notions of morality and ethics. In the circumstances of a given case consi-derations of morality and ethics may have...
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