Section 772 - Law Dictionary Search Results
Home Dictionary Name: section 772 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 ...
Salami
Salami, 'salami' is a single payment made for the acquisition of the right of the lessor by the lessee to enjoy the benefits granted to him by the lease. That general right may properly be regarded as a capital asset and the money paid to purchase it may properly be held to be a payment on capital account, Maharaja Chintamani Saran Nath Sah Deo v. CIT, AIR 1972 SC 80 (81): (1971) 2 SCC 521: (1972) 1 SCR 36.'Salami' is defined as; 'a free gift by way of compliment or in return of a favour'. Salami is a payment by the tenant as a present or as price for parting by the landlord with his rights under the lease of a holding. It is a lump sum payment as consideration for what the landlord transfers to the tenant, Member for the Board of Agricultural Income Tax v. Sindhurani Chaudhurani, AIR 1957 SC 729 (733): (1955) SCALE 772: 1957 ITR 169.Salami, are (i) its single non-recurring character; and (ii) payment prior to the creation of the tenancy. It is the consideration, paid by the tenant for...
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 ...
Building bye-law
Building bye-law, means bye-laws made under section 481 of the Delhi Municipal Corporation Act, 1957 or the bye-laws made under section 188, sub-section (3) of section 189 and sub-section (1) of section 190 of Punjab Municipal Act, 1911, as in force in New Delhi or the regulations made under sub-section (1) of section 57 of the Delhi Development Act, 1957, relating to buildings, Delhi Laws (Special Provisions) Act, 2006, sec. 2(a)....
Indemnity
Indemnity, a contract, express or implied, to keep a person harmless from loss which that person may incur by reason of some act, omission or event. It differs from a guarantee which requires a writing under s. 4 of the Statute of Frauds in that the latter guarantee contemplates the primary liability of a third person. as pointed out by Anson on Contracts, a form of indemnity may be illustrated by 'If you will supply goods to A. I will see you paid.' A guarantee, if 'A. does not pay you, I will.' There is, as a rule, a right of subrogation to all the remedies available to the person indemnified under an indemnity available to a person indemnifying-a guarantor has the right of subrogation as well as a right of recourse against the person guaranteed unless otherwise agreed. A great number of indem-nities are implied at Common Law or statute, and the contract extends to all the loss suffered and is not limited in amount as a contract to pay a sum of money is limited. As to implied indemni...
Separate property
Separate property, a property obtained by the sole surviving coparcener in a family does not become his 'separate property' so long as there is a woman in the family who can bring into existence a new coparcener by adoption. Property held by a person as a sole surviving coparcener of a joint Hindu family is not his 'separate property' within the meaning of s. 3(1) of the (English) Hindu Women's Right to Property Act, 1937, Manohar Lal Ganeriwalla v. Bhuri Bai, AIR 1972 SC 1369 (1371): (1973) 3 SCC 432. See also AIR 1958 All 769 (772).Means in a community-property State property, that a spouse owned before marriage or acquired during marriage by inheritance or by gift from a third party, or property acquired during marriage but after the spouses have entered into a separation agreement and have been living apart. Also called individual property, Black's Law Dictionary, 7th Edn., p. 1369.Means only self-acquired property of the coparcener and not the property which he has got on separati...
Market value
Market value, The term 'market value' has ac-quired a definite connotation by judicial decisions. Any addition to the value of the land to the owner whose land is compulsorily acquired which addition is the result of such factors as are unrelated to the open market cannot be regarded as a part of the market value, Union of India v. Shri Ram Mehar, AIR 1973 SC 305: (1973) 2 SCR 720: (1973) 1 SCC 109.Market value means the price that a willing purchaser would pay to a willing seller for the property having due regard to its existing condition with all its existing advantages and its potential possibilities when laid out in the most advantageous manner excluding any advantages due to the carrying out of the scheme for which the property is compulsory acquired, Thakur Kanta Prasad Singh v. State of Bihar, AIR 1976 SC 2219: (1976) 3 SCC 772: (1976) 3 SCR 585; Prithvi Raj Taneja v. State of Madhya Pradesh, AIR 1977 SC 1560: (1977) 1 SCC 684: (1977) 2 SCR 633. (Land Acquisition Act, 1894, s. ...
Body corporate
Body corporate, does not include a corporate sole, nor a Scottish firm, but includes a company incorporated elsewhere than in Great Britain, Halsbury's Laws of England, Vol. 9(2), 4th Edn., Para 1189, p. 673.Body corporate, does not include 'corporation sole but includes a company incorporated elsewhere than in Great Britain, it does not include a Scottish firm, Halsbury's Laws of England, Vol. 21, 4th Edn., Para 772, p. 552.The expression 'body corporate' is used in legal parlance to mean a public or private corporation, Ashoka Marketing Ltd v. Punjab National Bank, (1990) 4 SCC 406: AIR 1991 SC 855....
Indecent exposure
Indecent exposure, an indictable offence at Common Law. Exposure of the person in or in view of any public street or place of resort, with intent to insult any female, is also an offence summarily punish-able under the (English) Vagrancy Act, 1824 (5 Geo. 4, c. 83), s. 4.Means an offensive display of one's body in public, esp. of the genitals, Black's Law Dictionary, 7th Edn., p. 772....
Indecent exhibition
Indecent exhibition, means the act of publicly displaying or offering for sale something (such as a photograph or book) that is outrageously offensive, esp. in a vulgar or sexual way, Black's Law Dic-tionary, 7th Edn., p. 772....
- << Prev.
- Next >>