Security Agreement - Law Dictionary Search Results
Home Dictionary Name: security agreement Page: 7Pledge
The transfer of possession of personal property from a debtor to a creditor as security for a debt or engagement also the contract created between the debtor and creditor by a thing being so delivered or deposited forming a species of bailment also that which is so delivered or deposited something put in pawn...
Earnest money
Earnest money, The earnest money is a part of the purchase price when the transaction gets through and the same is forfeited when the transaction falls through by reason of the default or failure on the part of the vendee, H.U.D.A. v. Kewal Krishan Goel, (1996) 4 SCC 249: AIR 1996 SC 1981.The earnest money is part of the purchase price when the transaction goes forward and it is forfeited when the transaction falls through, by reason of the fault or failure of the purchase. Earnest money or deposit serves two purposes of being part-payment of the purchase money and security for the performances of the contract by the party concerned, who paid it. (AIR 1926 PC 1), Videocon Properties Ltd. v. Bhalchandra Laboratories, (2004) 3 SCC 711: AIR 2004 SC 1787 (1793). [Transfer of Property Act, 1882, s. 55(6)(b)]A deposit paid (usu in escrow) by a prospective buyer (esp. of real estate) to show a good faith intention to complete the transactions and ordinarily forfeited if the buyer default, Bla...
Fide-jussor
Fide-jussor, a surety, or one that obliges himself in the same contract with a principal, for the greater security of the creditor or stipulator, Civ. Law.A guarantor; a person; who becomes bound to pay author's debt, Black's Law Dictionary, 7th Edn., p. 639....
Say not less than
Say not less than, means if a covenant provides for the purchase of say not less than hundred packs of combing skins, it would mean that there is a stipulation securing to the purchaser a minimum quantity of hundred packs, or, in other words, there is an absolute contract to supply hundred packs at least, owing to the use of the words 'not less than', Leeming v. Snaith, (1851) 16 QB 275....
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