Tax Due - Law Dictionary Search Results
Home Dictionary Name: tax due Page: 4City
City [fr. cite, Fr.], a town corporate, which has usually a bishop and cathedral church. It is called civitas, because it is governed by justice and order of magistracy; oppidum, for that it contains a great number of inhabitants; and urbs, because it is in due form begirt about with walls, Jac. Law Dict.1. A municipal Corporation, usu. headed by a mayor and governed by a city council. 2. The territory within a city's corporate limit. 3. Collectively, the people who live within this territory, Black's Law Dictionary, 7th Edn....
Presetment of Bill of Exchange, Cheque, or Pro-missory Note
Presetment of Bill of Exchange, Cheque, or Pro-missory Note, the presenting of a bill by the holder to the drawee for acceptance, or to the acceptor or an indorser for payment of, a cheque to the banker for payment, and of a note to the maker or indorser for payment.The law on this subject is regulated by the (English) Bills of Exchange Act, 1882, as follows:-Presentment of Bill for Acceptance.--Presentment is necessary if the bill be payable after sight or if it be expressly stipulated for by the bill, or if it be drawn payable elsewhere than at the residence or place of business of the drawee, but in no other case (s. 39). When a bill payable after sight is negotiated, the holder must either present or negotiate it within a reasonable time (s. 40).'The presentment must be made by or on behalf of the holder to the drawee or to some person authorized to accept or refuse acceptance on his behalf at a reasonable hour on a business day and before the bill is overdue.' Presentment must be ...
goodwill
goodwill 1 : an intangible asset that is made up of the favor or prestige which a business has acquired beyond the mere value of what it sells due to the personality or experience of those conducting it, their reputation for skill or dependability, the business's location, or any other circumstance incidental to the business that tends to draw and retain customers 2 a : the value of projected increases in the earnings of a business esp. as part of its purchase price b : the excess of the purchase price of a business above the value assigned for tax purposes to its other net assets NOTE: The Internal Revenue Code requires the purchaser of a business to allocate the purchase price among the various types of assets. Frequently the purchase price is greater than the sum of the values of the individual assets. The excess is labeled goodwill. Because of its indefinite life, goodwill is not amortizable as an asset. The purchaser will therefore usually try to keep the allocation to goodw...
tax credit
tax credit : an amount that may be subtracted from the sum of tax otherwise due and that is distinguished from a deduction applied to gross income in the calculation of taxable income compare exemption ...
Hydrocephalus
An accumulation of liquid within the cavity of the cranium especially within the ventricles of the brain dropsy of the brain It is due usually to tubercular meningitis When it occurs in infancy it often enlarges the head enormously...
Freight
Freight, the sum paid by a merchant or other person chartering a ship or part of a ship, or sending goods in a general ship, for the use of such ship or part, or the conveyance of such goods during a specified voyage or for a specified time. The freight is most commonly fixed by the charter-party, or bill of lading, but in the absence of any formal stipulation on the subject it would be due according to the custom or usage of trade. In the absence of an express contact to the contrary, the entire freight is not earned until the whole cargo be ready for delivery, or has been delivered to the consignee, according to the contract for its conveyance.1. Goods transported by water, land or air 2. Compensation paid to carrier for transporting goods, Black's Law Dictionary, 7th Edn., p. 677.Dead freight is the freight agreed to be paid in respect of any part of the cargo which was contracted to be carried and through any fault of the consignor has not been carried.As to the shipowners' lien fo...
Vis major
Vis major, insuperable accident, irresistible force. See ACT OF GOD.Means 'act of God' is a mere short way of expressing the proposition that a common carrier is not liable for any accident as to which he can show that it is due to natural causes directly and exclusively, without human intervention, and that it could not have prevented by any amount of foresight and pains and care reasonably to be expected for him, Baldeo Narain v. State of Bihar, AIR 1959 Pat 442....
Acceptance of bill of exchange
Acceptance of bill of exchange, 'Acceptance' in regard to a bill of exchange does not'mean 'taking' or 'receiving'. Acceptance of a bill of exchange is the signification by the drawee of his assent to the order of the drawer. It is the act by which the drawee evinces his consent to comply with, and be bound by, the request contained in a bill of exchange directed to him, and is the drawee's agreement to pay the bill when it falls due. In commercial parlance acceptance of a bill of exchange is the drawee's signed engagement to honour the draft as presented, American Express Bork Ltd. v. Calcutta Steel Co., (1993) 2 SCC 199 (207). [Negotiable Instruments Act, 1881, ss. 7, 32, 33]...
Advance
Advance [fr. avancer, Fr., to push forwards, fr. avant, Fr., avante, It., ab ante, Lat.], money paid before it is due 'a loan; increase.Advance means an advance, whether in cash or in kind, or party in cash or partly in kind, made by one person (hereinafter referred to as the creditor) to another person (hereinafter referred to as the debtor). [Bonded Labour System (Abolition) Act, 1976, (19 of 1976), s. 2(a)]...
Del credere
An agreement by which an agent or factor in consideration of an additional premium or commission called a del credere commission engages when he sells goods on credit to insure warrant or guarantee to his principal the solvency of the purchaser the engagement of the factor being to pay the debt himself if it is not punctually discharged by the buyer when it becomes due...
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