Statute Merchant - Law Dictionary Search Results
Home Dictionary Name: statute merchant Page: 3Magna Carta
Magna Carta, [Latin 'great charter'] The English charter that King John granted to the barons in 1215 and Henry III and Edward I later confirmed. It is generally regarded as one of the great common-law documents and as the foundation of constitution liberties. The other three great charters of English Liberty are the Petition of Right (3 Car. (1628)), the Habeas Corpus Act (31 Car. 2 (1679)), and the Bill of Rights (1 Will. SM. (1689)). Also spelled Magna charta, Black's Law Dictionary, 7th Edn., p. 963.This Great Charter is based substantially upon the Saxon Common Law, which flourished in this kingdom until the Normaninvasion consolidated the system of feudality, still the great characteristic of the principles of real property. The barons assembled at St.Edmund's Bury, in Suffolk, in the later part of the year 1214, and there solemnly swore upon the high alter to withdraw their allegiance from the Crown, and openly rebel, unless King John confirmed by a formal charter the ancient li...
Insurance
Insurance, see, Income-tax Act, 1961 (43 of 1961), s. 80C, Expl. 1.Insurance, the act of providing against a possible loss, by entering into a contract with one who is willing to give assurance, that is, to bind himself to make good such loss should it occur. In this contract, the chances of benefit are equal to the insured and the insurer. The first actually pays a certain sum, and the latter undertakes to pay a larger, if an accident should happen. The one renders his property secure; the other receives money with the probability that it is clear gain. The instrument by which the contract is made is called a policy; the stipulated consideration, a premium. As to what is known as a coupon policy, i.e., a coupon cut out of a diary, etc., see General Accident, etc., Assce. Corpn. v. Robertson, 1909 AC 404.Insurable Interest must be possessed by the person taking out a policy; he must be so circumstanced as to have benefit from the existence of the person or thing insured, and some preju...
Limited liability
Limited liability. At Common Law every person is liable, upon his contracts, up to the whole amount of his estate, and every partner is so liable upon all the contracts of the partnership. So extensive a liability being apt to prevent persons from engaging in business as partners, the statutes authorizing the construction of railways, etc., have always limited the liability of each shareholder to the amount of the shares held by him. Similar limitations, extending in some cases to double the amount of shares held, have also long been found (though not universally) in the charters of incorporated banks and insurance companies.Companies Acts.--Under the Companies Acts, limited liability means that the members are not liable beyond the unpaid-up part (if any) of the nominal amount of the shares in respect of which they are registered in the books of the company. When a share has been fully paid up, no further liability exists. As to shares which have not been fully paid up, see CONTRIBUTO...
Common Law
Common Law [lex communis, Lat.]. 'The phrase 'common law' is used in two very different senses. It is cometimes contrasted with equity; it then denotes the law which, prior to the Judicature Act, was administered in the three ' superior ' Courts of law at Westminster, as distinct from that administered by the Court of Chancery at Lincoln's Inn. At other times it is used in contradistinction to the statute law, and then denotes the unwritten law, whether legal or equitable in its origin, which does not derive its authority from any express declaration of the will of the Legislature. This unwritten law has the same force and effect as the statute law. It depends for its authority upon the recognition given by our Law Courts to principles, customs, and rules of conduct previously existing among the people. This recognition was formerly enshrined in the memory of legal practitioners and suitors in the Courts; it is now recorded in the voluminous series of our law reports which embody the d...
Boats
Boats. By s. 94 of the (English) Public Health Acts Amendment Act, 1907, local authorities may license pleasure boats; see also (English) Public Health Act, 1936, s. 267. See Chitty's Statutes; and FISHING BOATS.As to the provision of boats on ships, with a view to the prevention of accidents and the saving of life at sea, see Order of the (English) Board of Trade, Merchant Shipping (Life-saving Appliances) Rules, May 8, 1914.-S. R. and O. 1914, No. 1006, and (English) Merchant Shipping (Safety and Local Line Conventions) Act, 1932 (22 Geo. 5, c. 9)....
Savings banks
Savings banks, institutions for the safe custody and increase of the small savings of the poor. See Chitty's Statutes, tit. 'Savings Banks.' They are: (1) Trustee; (2) Post Office; (3) Military; (4) Statutory; (5) Uncontrolled.(1) Trustee Savings Banks are regulated by a long series of Acts (the Trustee Savings Banks Acts, 1861 to 1934), which provide that they must not be described in a manner which implies that the Government is responsible to depositors, that the money received must be paid to the Bank of England or Ireland and carried to an account kept in the names of the National Debt Commissioners, and that annual accounts must be sent to the Commissioners. An 'Inspection Committee,' estab-lished under the Savings Bank Act, 1891, has extensive powers of supervision for the purpose of detecting any breaches of the Acts or rules regulating a bank. Deposits by any depositor in more than one Trustee Savings Bank is prohibited, and the Treasury have power to limit the amount from one...
Seamen
Seamen, persons engaged in navigating ships, barges, etc., upon the high seas. Those employed for this purpose upon rivers, lakes, or canals are denominated watermen.The (English) Merchant Shipping Acts, 1894 and 1906 (57 & 58 Vict. c. 60, and 6 Edw. 7, c. 48), contain numerous and elaborate provisions. In Part II. of the Act of 1894 there are regulations as to engagement and discharge of seamen, and payment of their wages. The Act also (s. 168) gives power to a Court to rescind a contract between owner or master, and seaman or apprentice, where a proceeding is instituted in the Court in relation to a dispute between them, protects (ss. 212-219) seamen from imposition, and (ss. 198-210) protects them in the matter of provisions, health, and accommodation. As to seamen's allotment notes, see (English) Merchant Shipping (Seamen's Allotment) Act, 1911 (1 & 2 Geo. 5, c. 8). Part III. of the Act of 1906 deals with seamen's food, and Part IV. contains provisions for the relief and repatriati...
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...
Goods
Goods, Computer programs are the product of an intellectual process, but once implanted in a medium they are widely distributed to computer owners. An analogy can be drawn to a compact-disc recording of an orchestral rendition. The music is produced by the artistry of musicians and in itself is not a 'good', but when transferred to a laser-readable disc it becomes a readily merchant-able commodity. Similarly, when a professor deliv-ers a lecture, it is not a good, but, when transcribed as a book, it becomes a good. That a computer program may be copyrightable as intellectual property does not alter the fact that once in the form of a floppy disc or other medium, the program is tangible, moveable and available in the marketplace. The fact that some programs may be tailored for specific purposes need not alter their status as 'goods' because the Code definition includes 'specially manufactured goods', Advent Systems Ltd. v. Unisys Corpn., 925 F. 2d 670 3dCir 1991. Associated Cement Compa...
Marriage
Marriage. Marriage as understood in Christendom is the voluntary union for life of one man and one woman, to the exclusion of all others, Hyde v. Hyde, 1866 LR 1 P&D 130. Where a marriage in a foreign country complies with these requirements it is immaterial that under the local law dissolution can be obtained by mutual consent or at the will of either party with merely formal conditions of official registration, and it constitutes a valid marriage according to English law, Nachimson v. Nachimson, 1930, P. 217. Previous to 1753 the validity of marriage was regulated by ecclesiastical law, not touched by any statutory nullity but modified by the Common law Courts, which sometimes interfered with the Ecclesiastical Courts, by prohibition, sometimes themselves decide on the validity of a marriage, presuming a marriage in fact as opposed to lawful marriage. A religious ceremony by an ordained clergyman was essential to a lawful marriage, at all events for dower and heirship; but if in an i...
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