Surplus Surplusage - Law Dictionary Search Results
Home Dictionary Name: surplus surplusage Page 1 of about 2 results ( seconds)Surplus, surplusage
Surplus, surplusage, a supernumerary part, an overplus, what remains when everything is satisfied.The word 'surplus' has the technical meaning which arises from the Insurance Act which is made applicable for purposes of valuation by s. 43 of the Life Insurance Corporation Act read with Notification No. GSR 734, dated 23-8-1958. Life Insurance Corporation of India v. S.V. Oak, AIR 1965 SC 975: (1965) 1 SCR 403.The remainder of a thing; the residue or excess, Black's Law Dictionary, 7th Edn., p. 1456...
Residue
Residue, the surplus of a testator's or intestate's estate after discharging all his liabilities. Unless it appear in the will that the executor was intended to have the residue, he will be deemed to be trustee for the next of kin [Executors Act, 1830 (11 Geo. 4 & 1 Wm. 4, c. 40)]; repealed and replaced by the Administration of Estates Act, 1925, s. 49; see Re Glukman, (1908) 1 Ch 552; affirmed, nom. A.G. v. Jeffereys, 1908 AC 411. The distribution of the surplusage of an intestate's estate was provided for by the Statute of Distribution (22 & 23 Car. 2, c. 10), explained by 29 Car. 2, c. 3, and 1 Jac. 2, c. 17. the distribution of the estates of persons dying after 1925 is regulated by Part IV. of the Administration of Estates Act, 1925. See LAPSE; WIDOW.Something that is left over after a part is removed or disposed of; a remainder, Black's Law Dictionary, 7th Edn., p. 1311...
- << Prev.
- Next >>