Special Guaranty - Law Dictionary Search Results
Home Dictionary Name: special guarantyspecial guaranty
special guaranty : a guaranty made to a specific person and enforceable only by that person ...
Guaranty, or Guarantee
Guaranty, or Guarantee, a promise to a person to be answerable for the payment of a debt or the performance of a duty by another, in case he should fail to perform his engagement. An offer to guarantee until it be accepted is not binding. At Common Law a guarantee need not have been in writing, but the Statute of Frauds (29 Car. 2, c. 3), s. 4, enacts that 'No action shall be brought whereby to charge the defendant upon any special promise to answer for the debt, default, or miscarriages of another person, unless the agreement upon which such action shall be brought, or some memoran-dum or note thereof, shall be in writing, and signed by the party to be charged therewith or some other person thereunto by him lawfully authorized.' In case of guarantees, great inconvenience had resulted from the construction put upon the above s., viz., that the consideration for the promise of the guarantor must appear upon the written instru-ment. To remedy this, the Mercantile Law Amend-ment Act, 1856...
guaranty
guaranty pl: -ties [Old French garantie, from garantir to guarantee, from garant warrant] 1 : a pledge to pay another's debt or to perform another's duty in case of the other's default or inadequate performance compare letter of credit 2 : guarantee 3 : guarantor 4 : something given as security : pledge 5 : the protection of a right afforded by legal provision (as in a constitution) ...
guaranty fee
guaranty fee payment to FannieMae from a lender for the assurance of timely principal and interest payments to MBS (Mortgage Backed Security) security holders. Source: U.S. Department of Housing and Urban Development ...
Special Economic Zone
Special Economic Zone, means a specifically delineated duty-free enclave, as if it were a foreign territory for the purpose of trade operations, duties and tariffs, having been declared and notified in the official Gazette as a Special Economic Zone by the Central Government. [West Bengal Special Economic Zone Act, 2003, s. 2(l)]Means each Special Economic Zone notified under the proviso to sub-section (4) of section 3 and sub-section (1) of section 4 (including Free Trade and Warchousing Zone) and includes an existing Special Economic Zone. [Special Economic Zone Act, 2005 (28 of 2005), s. 2(za)]Means each Special Economic Zone notified under the proviso to sub-s. (4) of s. 3 and sub-s. (1) of s. 4 (including Free Trade and Warehousing Zone) and includes an existing Special Economic Zone. [Special Economic Zone Act, 2005, s. 2(Za)]Means the area declared by the Government of India as the Special Economic Zones. [Gujarat Special Economic Zone Act, 2004, s. 2(n)]Means an area identified...
Special jury
Special jury, a jury consisting of persons who, in addition to the ordinary qualifications, are of a certain station in society as esquires, bankers, merchants, etc. The Jurors Act, 1870, s. 6, provides that every man whose name shall be on the jurors' book for any county in England or Wales, or for the county of the City of London, and who shall be legally entitled to be called an esquire, or shall be a person of higher degree, or shall be a banker or merchant, or who shall occupy a private dwelling-house rated or assessed to the poor rate, or to the inhabited house duty, on a value of not less than 100l. in a town containing, according to the census then next preceding the preparation of the jury list, 20,000 inhabitants and upwards, or rated or assessed to the poor rate, or to the inhabited house duty, on a value of not less than 50l. elsewhere, or who shall occupy premises other than a farm, rated or assessed as aforesaid on a value of not less than 100l., or a farm rated or assess...
Adequate and special reasons
Adequate and special reasons, in order to exercise the discretion of reducing the sentence the statutory requirement is that the court has to record 'adequate and special reasons' in the judgment and not fanciful reasons which would permit the court to impose a sentence less than the prescribed minimum. The reason has not only to be adequate but special. What is adequate and special would depend upon several factors and no straitjacket formula can be imposed, Bhupinder Sharma v. State of Himachal Pradesh, (2003) 8 SCC 551 (558). (Indian Penal Code, 1860, s. 376)--the expression 'adequate and special reasons'[ indicates that it is not enough to have special reasons, nor adequate reasons disjunctively. There should be a conjunction of both for enabling the court to invoke the discretion. Reasons which are general or common in many cases cannot be regarded as special reasons, Kamal Kishore v. State of Himachal Pradesh, AIR 2000 SC 1920 (1925). [Penal Code, 1860, s. 376(2), proviso]Means t...
Special case
Special case. By (English) R.S.C. 1883, Ord. XXXIV., the parties may, after writ issued, concur in stating the questions of law arising in the action in the form of a special case for the opinion of the Court, and 'if it appear to the Court or a judge that there is in any action a question of law which it would be convenient to have decided before any evidence is given or any question or issue of fact is tried, or before any reference is made to a referee or an arbitrator, the Court or judge may make an ordr accordingly, and may direct such question of law to be raised for the opinion of the Court, either by special case, or in such other manner as the Court or judge may deem expedient.' Similar power is given to referees to state a case by Ord. XXXVI., r. 52, and see the (English) Administration of Justice Act, 1932 (22 & 23 Geo. 5, c. 55). As to special case before the Judicature Acts, see (English) C.L.P. Act, 1852, ss. 42-48, and 13 & 14 Vict. c. 35 [(English) Turner's Act]. Where ...
Special constables
Special constables, persons appointed by justices of the peace to assist in keeping the peace 'on the oath of a credible witness that any tumult, riot, or felony has taken place or may be reasonably apprehended in any parish, township, or place,' if the justices are of opinion that the ordinary constables are insufficient for that purpose. See Special Constables Act, 1831, s. 8 of which imposes a penalty for each refusal to serve when duly called upon, while s. 2 allows a Secretary of State to order persons to be sworn in though exempt by law, and s. 196 of the (English) Municipal Corporations Act, 1882, by which borough justices 'shall appoint in October in every year so many as they may think fit of the inhabitants of the borough, not legally exempt from serving the office of constable, to act as special constables in the borough.' There are also Acts of 1835 and 1838 dealing with the subject.By the (English) Special Constables Act, 1914, as amended by the (English) Special Constable...
Special and special reasons
Special and special reasons, the word 'special' has to be understood in contradistinction to word 'general' or 'ordinary'. Now what does term 'special' connote? 'Special' means distinguished by some unusual quality; out of the ordinary (See Words and Phrases, Permanent Edition, Volume 39A, p. 82) Webster defines 'special as particular; peculiar; different from others; designed for a particular purpose; occasion, or person; limited in range; confined to a definite field of action, Meet Singh v. State of Punjab, (1980) 3 SCC 291: AIR 1980 SC 1141....
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial