Speculative Risk - Law Dictionary Search Results
Home Dictionary Name: speculative riskspeculative risk
speculative risk : a risk that may result in either a loss or a gain compare pure risk ...
pure risk
pure risk : a risk that can only result in loss compare speculative risk ...
speculation
speculation : an act or instance of speculating: as a : assumption of unusual business risk in hopes of obtaining commensurate gain b : a transaction involving such speculation ...
speculate
speculate -lat·ed -lat·ing vi 1 : to theorize on the basis of insufficient evidence NOTE: A jury is not permitted to speculate on a matter about which insufficient evidence has been presented in reaching its verdict. 2 : to assume a business risk in hope of gain ;esp : to buy or sell in expectation of profiting from market fluctuations vt : to take to be true on the basis of insufficient evidence spec·u·la·tor [-lā-tər] n ...
Speculative transaction
Speculative transaction, a transaction is not 'speculative' within the meaning of sub-s. (5) of s. 43, Income Tax Act, 1961 where there is a breach of the contract and on a dispute between the parties damages are awarded as compensation by an arbitration award. The definition of 'speculative transaction' in s. 43(5) has to be interpreted by importing the sense conveyed by the law relating to the contracts, Commissioner of Income Tax v. Shantilal Pvt. Ltd., AIR 1983 SC 952 (954): (1983) 3 SCC 561: (1983) 3 SCR 470. [Income Tax Act, 1961, s. 43(5)]Explanation 2 to s. 24(1) of the Income Tax Act defines a speculative transaction as 'a transaction in which a contract for purchase and sale of any commodity including stocks and shares is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips .......'. It is apparent that what is contemplated is a real or factual delivery or transfer, and not a notional delivery or transfer, Jute Invest...
speculative
speculative 1 : involving, based on, or constituting intellectual speculation ;also : theoretical rather than demonstrable [ medical testimony concerning the cause of death] 2 : of, relating to, or being a financial speculation [ securities] [ home building] spec·u·la·tive·ly adv ...
assumption of risk
assumption of risk :a doctrine that a person may in advance relieve another person of the obligation to act towards him or her with due care and may accept the chance of being injured ;also : an affirmative defense that the plaintiff cannot receive compensation for injuries from the defendant because the plaintiff freely and knowingly assumed the risk of injury and relieved the defendant of the obligation to act with reasonable care compare contributory negligence at negligence, volenti non fit injuria NOTE: Assumption of risk may be express or may be implied from the plaintiff's words and actions. Assumption of risk has been abolished in certain types of cases, such as workers' compensation cases. ...
Assumption of the risk
Assumption of the risk, means the act or an instance of a prospective plaintiff's taking on the risk of loss, injury, or damage e.g. the skydiver's assumption of the risk, Black Law Dictionary 7th Edn., p. 121....
assigned risk
assigned risk : a poor risk (as an accident-prone driver) that insurance companies would normally reject but are forced to insure by state law ...
peculiar risk doctrine
peculiar risk doctrine : a doctrine that renders an employer (as a general contractor) liable for injury caused by an independent contractor if the employer failed to take reasonable precautions against a risk particular to the employee's work that the employer should have recognized ...
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