Title Company - Law Dictionary Search Results
Home Dictionary Name: title companytitle company
title company a company that specializes in examining and insuring titles to real estate. Source: U.S. Department of Housing and Urban Development ...
Abstract of title
Abstract of title. A concise statement, usually prepared for a mortgagee or purchaser of real property, summarising the history of a piece of land including all conveyances interests, lines & encumbrances that reflect title to property, Black's Law Dictionary, 7th Edn., an epitome of the evidence of title to property or power to deal with it.Every purchaser of land or real estate has an implied right to have an abstract of title delivered to him within a reasonable time, Compton v. Bagley, (1892) 1 Ch 313. As to registered land, see the Land Registration Act, 1925, s. 110, and Brickdale and Stewart-Wallace on the Land Registration Act, 1925.An abstract is said to be perfect if it deduces the title from the date fixed by the contract or by statute for its commencement and discloses every incumbrance affecting it, by setting out the material parts of all deeds, wills and other documents, and stating the facts on which it depends: fc. 1 Pres. 42, 207. The statutory period is thirty years,...
Private company
Private company. A 'private company' is defined by s. 26 of the (English) Companies Act, 1929, as follows:-Company privately formed by members who subscribe the whole of the capital among them-selves.26. --(1), For the purposes of this Act the expression 'private company' means a company which by its articles-(a) restricts the right to transfer its shares; and(b) limits the number of its members to 50, not including persons who are in the employment of the company and persons who, having been formerly in the employment of the company, were, while in that employment and have continued after the determination of such employment to be, members of the company; and(c) prohibits any invitation to the public to subscribe for any shares or debentures of the company.(2) Where two or more persons hold one or more shares in a company jointly they shall, for the purposes of this section, be treated as a single member.S. 27, ibid., provides that if a company alters its articles so that the provisio...
Short Titles
Short Titles, of Acts of Parliament. First introduced for convenience of citation in 1845 by the Companies Clauses Consolidation Act, 1845, and since then gradually more and more used in the case of particular Acts. General Short Titles Acts were also passed in 1892 and 1896, that of 1896 giving short titles to 2,076 Acts, of which 840 had had short titles given to them by the Act of 1892, which the Act of 1896 repeals. See ACT OF PARLIAMENT....
Company
Company [fr. compagnia, Ital., which word is still printed on Bank of England notes as 'compa'], a body of persons associated for purposes of busi-ness, sometimes, but not now so frequently as some years ago, styled a Joint Stock Company.A company has its origin either (1) in a charter, as the Bank of England and many insurance companies; or (2) in a special Act of Parliament, with which, as authorizing an undertaking of a public nature such as a railway, the Companies Clauses Consolidation Act, 1845 (8 & 9 Vict. c. 16), is necessarily incorporated; or (3) in registration under the Companies Acts, 1862 and subsequent Acts, now consolidated into the (English) Companies Act, 1925 (19 & 20 Geo. 5, c. 23).By s. 13 of the Act of 1925 (1) on the registration of the memorandum of a company the registrar shall certify under his hand that the company is incorporated and, in the case of a limited company, that the company is limited. (2) From the date of incorporation mentioned in the certificat...
company
company pl: -nies : an association of persons for carrying on a commercial or industrial enterprise compare corporation, partnership finance company : a company that makes usually small short-term loans to individuals growth company : a company that grows at a greater rate than the economy as a whole and that usually directs a relatively high proportion of income back into the business holding company : a company whose sole function is to own and control other companies investment company : a company that earns income solely or primarily by holding and investing in securities issued by other companies or by government agencies joint-stock company : a business organization whose capital is represented by shares owned by stockholders each of whom is personally liable for the company's debts limited liability company : an unincorporated company formed under applicable state statute whose members cannot be held liable for the acts, debts, or obligations of the company and that ma...
Banking company
Banking company, shall have same meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949) [Income Tax Act, 1961 (43 of 1961), s. 47 (vi-aa) Exp. (i).]--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949)...
title
title [Anglo-French, inscription, legal right, from Old French, from Latin titulum inscription, chapter heading, part of the law that sanctions an action] 1 a : the means or right by which one owns or possesses property ;broadly : the quality of ownership as determined by a body of facts and events after-acquired title : title that vests automatically in a grantee when acquired by a grantor who purported to sell the property before acquiring title ;also : a doctrine that requires such vesting compare estoppel by deed at estoppel NOTE: The doctrine of after-acquired title generally does not apply when the grantor receives title by quitclaim deed; to vest title in the grantee the deed must include words expressing such an intention. clear title : title that exists free of claims or encumbrances on the property [had clear title to the farm] ;broadly : marketable title in this entry equitable title : title vested in one who is considered by the application of equitable principl...
Foreign company
Foreign company. Every Company incorporated outside the United Kingdom, which has a place of business in the United Kingdom, has to comply with certain regulations laid down by Part XI., ss. 343-352 of the Companies Act, 1929. The regulations relate, inter alia, to the registration with the registrar of companies of a copy or translation of the instrument and regulations constituting the company, a list of directors with the statutory particulars and the names and addresses of one or more residents in Great Britain for service of notices and process on the company, and other important provisions. Companies incorporated in a British possession are empowered to hold land in the United Kingdom without prejudice to their powers by virtue of registration in Northern Ireland (s. 345). Special regulations are made for companies incorporated in the Channel Islands and the Isle of Man (s. 343).The general provisions of the Companies Act, 1929, relating to charges on property in England and on p...
Investment company
Investment company, an 'investment company' was defined in s. 109(i) of the Act as meaning a com-pany whose business consisted wholly or mainly in the dealing in or holding of investments. The statutory percentage in the case of an investment company (whether Indian company or not) was fixed at 90 per cent by S. 109 (iii)(1) of the Act. It is significant that even in this Act, the restricted definition of the expression 'investment company' as appearing in s. 372(11) of the Companies Act, 1956 was not adopted by the Legislature. By Finance Act, 1966, which came into force with effect from April 1, 1966, the meaning of the term 'investment company' was clarified by amending clause (ii) of S. 109 and providing therein that investment company meant a company whose gross total income consisted mainly of income which, if it had been the income of an individual, would have been regarded as unearned income, Nawn Estate (P) Ltd. v. CIT, AIR 1977 SC 153 (161): (1977) 1 SCR 798: (1977) 1 SCC 7.I...
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