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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 ...

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 ...

Judgment

Judgment [fr. judgment, Fr.], judicial determination; decision of a Court.Under the former practice of the superior Courts, this term was usually applied only to the Common Law Courts, the term 'decree' being in general use in the Court of Chancery. The expression 'Judg-ment,' however, is now used generally except in matrimonial causes, the term 'judgment' including 'decree' [(English) Jud. Act, 1925, s. 225, replacing Jud. Act,1873, s. 100].The several species of judgments are either:-(a) Interlocutory, given in the course of a cause, upon some plea, proceeding, or default, which is only intermediate, and does not finally determine or complete the action. See INQUIRY; SUMMONSES; and ORDERS; and the various titles of the subjects of such judgments as MANDAMUS; INJUNC-TION, etc.(b) Final, putting an end to the action by an award of redress to one party, or discharge of the other, as the case may be.By the (English) C.L.P. Act,1852, s. 120, a plaintiff or defendant having obtained a verd...

Costs

Costs, expenses incurred in litigation or professional transactions, consisting of money paid for stamps, etc., to the officers of the Court, or to the counsel and solicitors, for their fees, etc.Costs in actions are either between solicitor and client, being what are payable in every case to the solicitor by his client, whether he ultimately succeed or not; or between party and party, being those only which are allowed in some particular cases to the party succeeding against his adversary, and these are either interlocutory, given on various motions and proceedings in the course of the suit or action, or final, allowed when the matter is determined.Neither party was entitled to costs at Common Law, but the Statute of Gloucester (6 Edw. 1, c. 4), gave cots to a successful plaintiff, and 2 & 3 Hen. 8, c. 6, and 4 Jac. 1, c. 3, to a victorious defendant; see Garnett v. Bradley, (1878) 3 App Cas 944.In proceedings between the Crown and a subject the general rule is that the Crown neither ...

Approved charitable institution

Approved charitable institution, means an institution specified in, or, as the case may be, an institution established for charitable purposes and notified by the Central Government under clause (23C) of section 10 or an institution referred to in clause (a) of sub-section (2) of section 80G. [Income Tax Act, 1961 (43 of 1961), s. 80E(3)(a)]....

Undertaking

Undertaking, denotes 'any business or any work or project which one engages in or attempts as an enterprise analogous to business or trade, Secretary Madras Gymkhana Club Employees Union v. Manage-ment of Gymkhana Club, AIR 1968 SC 554: (1968) 2 SCJ 138: (1968) 1 SCA 379: (1967) 2 SCWR 618: (1967) 2 Lab LJ 720: 33 FJR 157: (1968) Lab JC 547: (1968) 2 Andh WR (SC) 6: (1968) 2 Mad LJ (SC) 6: 15 Fac LR 411: 16 Law Rep 140.Undertaking, denotes, with reference to company law, all the assets of the company past present and future, and is a mortgageable interest being commonly charged by the debentures of the company. 'Undertaking' means a unit, such as a factory or a granary, Industrial Disputes Tribunal (in re:), (1956) 3 All ER 111.Undertaking, in a compromise decree does not mean a promise to a court. It is merely a solemn promise by one party to the other when it appears in an agreement between the two, Nisha Kant Roy v. Sandji Bashnai, Goho, AIR 1948 Cal 294: 49 Cr LJ 567.Undertaking, i...

Dispute

Dispute, The meaning of the word 'dispute' is, 'a controversy having both positive and negative aspects. It postulates the assertion of a claim by one party and its denial by the other', Canara Bank v. National Thermal Power Corporation, (2001) 1 SCC 43.The term 'dispute' means a controversy having both positive and negative aspects. It postulates the assertion of a claim by one party and its denial by the other, Gujarat State Corporation Land Development Bank v. P.R. Mondkad, (1979) 3 SCC 123: AIR 1979 SC 1203 (1207).There should be dispute and there can only be a dispute when a claim is asserted by one party and denied by the other on whatever grounds. Mere failure or inaction to pay does not lead to the inference of the existence of dispute. Dispute entails a positive element and assertion in denying, not merely inaction to accede to a claim or a request, Inder Singh Pekhi v. D.D.A., AIR 1988 SC 1007 (1009): (1988) 2 SCC 338.Once such a claim is made prior to invocation of arbitrati...

Recognised stock exchange

Recognised stock exchange, means a recognised stock exchange as referred to in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and which fulfils such conditions as may be prescribed and notified by the Central Government for this purpose. [Income Tax Act, 1961 (43 of 1961), s. 43(5)(ii)]...

Wills

Wills. A will is the valid disposition by a living person, to take effect after his death, of his disposable property. ''But in law ultima voluntas in scriptis is used, where lands or tenements are devised, and testamentum, when it concerneth chattels': Co. Litt. 111 a.Depository of Will of Living Person.-By the (English) Jud. Act, 1925, s. 172, replacing s. 91 of the Court of Probate Act, 1857:-There shall, under the control and direction of the High Court, be provided safe and convenient depositories for the custody of the wills of living persons, and any person may deposit his will therein.And see (English) Administration of Justice Act, 1928 (18 & 19 Geo. 5, c. 26), s. 11, as to deposit of wills under control of the High Court.Law before 1838.-The right of testamentary aliena-tion of lands is a matter depending on Act of Parliament. Before 32 Hen. 8, c. 1, a will could not be made of land, and before the Statute of Frauds a will (see NUNCUPATIVE WILL) could be made by word of mouth...

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