Stamp - Law Dictionary Search Results
Home Dictionary Name: stamp Page: 2Stamp Act
Stamp Act, of 1765, for imposing stamp duties on American Colonies, 5 Geo. 3, c. 12, repealed by 6 Geo. 3, c. 11....
Cancellation
Cancellation, any manner of obliteration and defacement, as of an adhesive stamp in the manner prescribed by s. 8 of the (English) Stamp Act, 1891 (54 & 55 Vict. c. 91), which enacts that-(1) Mode of Cancellation. An instrument, the duty upon which is required or permitted by law [see ss. 22, 34, 49(2), 52(3), 64, 69(3), 78(1), 79(2), 80(2), 85(1), 90, 99, 101(2), 110(1), and 111(2)], to be denoted by an adhesive stamp, is not to be deemed duly stamped with an adhesive stamp, unless the person required by law to cancel the adhesive stamp cancels the same by writing on or across the stamp his name or initials, or the name or initials of his firm, together with the true date of his so writing, or otherwise effectively cancels the stamp and renders the same incapable of being used for any other instrument, or for any postal purpose, or unless it is otherwise proved that the stamp appearing on the instrument was affixed thereto at the proper time.(2) Plurality of Stamps. Where two or more ...
Receipt
Receipt, an acknowledgment in writing of having received a sum of money, which is prima facie but not conclusive evidence of payment, Skaife v. Jackson, (1824) 3 B&C 421.The act of receiving something; a written acknow-ledgment that something has been received, Black's Law Dictionary, 7th Edn.A stamp duty first imposed in 1783 was progressively ad valorem, until 1853, when the uniform 1d. rate was imposed; this was increased to 2d. by the Finance Act, 1920.For the purposes of the Stamp Act, 1891, the expression 'receipt' is defined (s. 101) as including--(1) Any note, memorandum, or writing whereby any money amounting to two pounds or upwards, or any bill of exchange or promissory note for money amounting to two pounds or upwards, is acknow-ledged or expressed to have been received or deposited or paid, or whereby any debt or demand, or any part of a debt or demand, of the amount of two pounds or upwards, is acknowledged to have been settled, satisfied, or discharged, or which signifie...
Bond
Bond [fr. binda, band, bunden, A. S., to bind], a written acknowledgement or binding of a debt under seal. See DEED. No technical form of words is necessary to constitute a bond; see Gerrard v. Clowes, (1892) 2 QB 11; Strickland v. Williams, (1899) 1 QB 382. The person giving the bond is called the obligor, and he to whom it is given the obligee. A bond is called single (simplex obligatio) when it is without a penalty, but there is generally a condition added, that, if the obligor does or forbears from some act, the obligation shall be void, or else shall remain in full force, and the bond is then called a double or conditional one; see Dav. Prec. Vol. V., pt. Ii., p. 268. When a bond contains a penalty, which is generally double the amount of the principal sum secured, only the sum actually owing, with interest, can be recovered, and in no case can this exceed the amount appearing on the face of the bond. See 8 & 9 Wm. 3, c. 11, s. 8; Re Dixon, (1900) 2 Ch 561.Although it is unnecessa...
Duly stamped
Duly stamped, an instrument can be said to be duly stamped only if it bears stamps of the amount and description in accordance with the law of the State concerned, the law including not only the Act, but also the rules framed under the Act, New Control Jute Mills Co. v. State of West Bengal, AIR 1963 SC 1307 (1311): (1964) 1 SCR 535. [Uttar Pradesh Stamp Rules, 1942, R.3]As applied to an instrument, means that the instrument bears an adhesive or impressed stamp of not less than the proper amount and that such stamp has been affixed or used in accordance with law for time being in force in India. [Indian Stamp Act, 1899, s. 2 (11)]Levy of duty, the duty is levied under the statutory provision and not under the discretion of the authorities under the provision, Khoday India Ltd. Anekal v. State of Karnataka, 2007 (3) Kar LJ 162...
Ad valorem
Ad valorem, a term used in speaking of the duties or customs paid on certain goods (see e.g. (English) Import Duties Act, 1932 (22 Geo. 5, c. 8); the duties on some Articles are paid by the number, weight, measure, tale, etc., and those on others are paid ad valorem--that is, according to their value. The term is used also of stamp duties, which, in many cases--e.g., in the case of an award, a bill of exchange, a conveyance or transfer, and a lease--are payable under the Stamp Act, 1891, according to the value of the subject-matter of the particular instruments or writings. See STAMP DUTIES.The phrase 'ad valorem' appearing in the column 'rate of duty' in the Schedule appended to the Act refers to the value of the excisable goods and, therefore, it will have to be worked out by applying the formula as laid down in s. 4(4)(d) of the Central Excise Act, State of Goa v. Calfox Laboratories, (2004) 9 SCC 83 (98): AIR 2004 SC 45. [Central Excise Act, 1944, s. 4(4)(d)]...
Patent medicine
Patent medicine, A patent medicine means medicine in respect of which a patent is in force, Aphali Pharmaceuticals v. State of Maharashtra, AIR 1989 SC 2227 (2235): (1989) 4 SCC 2227.Patent or proprietary medicines are--(1) those enumerated in the schedule to the (English) Medicine Stamp Act, 1812; (2) all other medicines intended for human use and claimed to be made by a secret process or protected by letters-patent, or which have been advertised as beneficial to the prevention, cure, or relief of any ailment or disorder affecting the human body. Under the (English) Medicine Stamp Acts, 1802 and 1804, duties were imposed on each bottle or package according to the price. These duties are payable by the manufacturers and collected by means of labels of appropriate amounts, so affixed to the packages as to be destroyed when they are opened. The duties were doubled by the Finance Act, 1915: this increased rate has been continued from year to year. The schedule to the Act of 1812 exempts f...
Policy of group insurance
Policy of group insurance, means any instrument covering not less than fifty or such smaller number as the Central Government may approve, either generally or with reference to any particular case, by which an insurer, in consideration of a premium paid by an employer or by an employer and his employees jointly, engages to cover, with or without medical examination and for the sole benefit of persons other than the employer, the lives of all the employees or of any class of them, determined by conditions pertaining to the employment, for amounts of insurance based upon a plan which precludes individual selection. [Indian Stamp Act, 1899 (2 of 1899), s. 2 (19A); Rajasthan Stamp Act, 1999, s. 2(28)]Policy of sea-insurance or sea-policy,--(a) means any insurance made upon any ship or vessel (whether for marine or inland navigation), or upon the machinery, tackle or furniture of any ship or vessel, or person, any goods, merchandise or property of any description whatever on board of any sh...
Paper
Paper, includes vellum parchment or any other material or which an instrument may be written, Rajasthan Stamp Act, 1999, s. 2(xxvi).Paper. As to the paper on which proceedings in the Supreme Court must be printed, see PRINTING.It includes vellum, parchment or any other material on which an instrument may be written. [Indian Stamp Act, 1899, s. 2 (18)]The word 'paper' admittedly not having been defined either in the U.P. Sales Tax Act, 1948 or the rules made thereunder, it has to be understood according to the aforesaid well-established canon of construction in the sense in which persons dealing in and using the article understand it. It is, therefore, necessary to know what is paper as commonly or generally understood. The said word which is derived from the name of reedy plant papyrus and grows abundantly along the Nile river in Egypt is explained in The Shorter Oxford English Dictionary (volume 2) (Third Edition) as: A substance composed of fibers interlaced into a compact web, made ...
Special pleaders
Special pleaders, members of an inn of Court who devote themselves mainly to the drawing of pleadings, and to attending at judge's chambers. If not called to the Bar, as was in former times (when many special pleaders practised as such prior to being called to the Bar) frequently the case, they take out annual certificates on which a duty of 9l. is payable, under s. 44 and Schedule of the (English) Stamp Act, 1891, re-enacting similar provisions of the repealed Stamp Act, 1870. They are exempt while in practice from jury service, by the Juries Act, 1870, and see (English) Solicitors Act, 1932 (22 & 23 Geo. 5, c. 37), ss. 47 to 49....
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