Unit Trust - Law Dictionary Search Results
Home Dictionary Name: unit trust Page: 3credit
credit 1 : recognition see also full faith and credit 2 a : the balance in an account which may be drawn upon and repaid later compare loan b : the use of resources (as money) in the present obtained by the debtor's promise to repay the creditor in the future usually with interest as compensation to the creditor and often secured by a pledge of property or the right to attach the debtor's income in case of a failure to repay see also consumer credit compare debt c : financial reputation [to borrow money on the of the United States "U.S. Constitution art. I"] d : letter of credit 3 a : a deduction from an expense or asset account b : a reduction of an amount otherwise due ;esp : tax credit [a for child-care expenses] compare deduction, exclusion, exemption vt 1 : to supply goods on credit to 2 : to trust in the truth of 3 a : to enter upon the credit side of an account b : to place an amount to the credit of [ his account with ten dollars] ...
duty
duty pl: du·ties [Anglo-French deuté indebtedness, obligation, from deu owing, due, from Old French see due ] 1 : tasks, service, or functions that arise from one's position [performing a police officer's duties] ;also : a period of being on duty see also jury duty 2 : an obligation assumed (as by contract) or imposed by law to conduct oneself in conformance with a certain standard or to act in a particular way [ of good faith] [a to warn of danger] see also public duty doctrine, special duty doctrine duty of can·dor [-kan-dər] : a duty obligating directors of a corporation to disclose all material facts known to them about a transaction when they are seeking shareholder approval duty of care : a duty to use due care toward others in order to protect them from unnecessary risk of harm duty of fair representation : a duty obligating a labor union to represent the employees in its collective bargaining unit fairly and in good faith duty of loy·al·t...
Colonial Stock Acts (English)
Colonial Stock Acts (English). Colonial stocks were not authorised as trustee investments by the Trustee Act, 1893, but by the Colonial Stock Acts of 1877, 1892, 1900 and 1934. Colonial stocks registered in the United Kingdom, and with respect to which certain prescribed conditions have been observed, are (unless expressly forbidden by the instrument of trust: Trustee Act, 1925, s. 1 (o) available as investments for trustees; see Colonial Stock Act, 1900 (63 & 64 Vict. c. 62), and subsequent Acts; Re Maryon-Wilson, (1912) 1 Ch 55...
Debt
Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed to be due to him; and it was generally founded on some contract alleged to have taken place between the parties, or on some matter of fact from which the law would imply a contract between them. This was debt in the debet, which was the principal and only common form. There is another species mentioned in the books, called debt in the detinet, which lay for the specific recovery of goods, under a contract to deliver them. An action of debt as a technical term is now obsolete. See PLEADINGS. The order of the payment of debts and expenses out of legal assets in an ordinary administration action in the Chancery Division of the High Court is as follows:-1. Funeral expenses, which in the case of an insolvent estate must be strictly reasonable and necessary only, the executor or administrator being personally liabl...
Injunction
Injunction, Expression 'injunction' in s. 41(b) is not qualified by an adjective and, therefore, it would, comprehend both interim and perpetual injunc-tion, Cotton Corporation of India v. United Industries Ltd., AIR 1983 SC 1272 (1277): (1983) 4 SCC 625. [Specific Relief Act, 1963, s. 41(b)]This is the discretionary process of preventive and remedial justice, whereby a person is required to refrain from doing a specified meditated wrong, not amounting to a crime. It is either (1) inter-locutory, i.e., provisional or temporary, until the coming in of the defendant's answer, or until the hearing of the cause; or (2) perpetual, i.e., forming part of a decree made at a hearing upon the merits, whereby the defendant is perpetually inhibited from the assertion of a right, or perpetually res-trained from the commission of an act contrary to equity and good conscience. As to mandatory injunctions, see post.See Specific Relief Act, 1963 (47 of 1963), s. 37.Prior to the Judicature Act injunctio...
Local authority
Local authority, includes panchayatiraj institutions, municipalities, a district board, cantonment board, town planning authority or Zila Parishad or any other body or authority, by whatever name called, for the time being invested by law, for rendering essential services or, with the control and management of civil services, within a specified local area. [Disaster Management Act, 2005, s. 2(h)]It is the political subdivision functioning within the framework of constitution and enjoying certain degree of autonomy serving as administrative units for state services, Dictionary of Political Science, Joseph Dunner, 1965, p. 321.Means a municipal corporation, a municipal council, a Nagar Panchayat, an Industrial Township, a Cantonment Board, a Village Panchayat Constituted or Continued under any law for the time being in force. [Maharashtra Non-Biodegradable Garbage (Control) Act, 2006, s. 2(e)]Means a municipal corporation, Nagar Panchayat, Municipal Council, District Panchayat, Taluka Pa...
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...
Person
Person, a Hindu Undivided Family is a person, Kshetra Mohan-Sannyasi Charan Sadhukhan v. Commissioner of Excess Profit Tax, West Bengal, AIR 1953 SC 516.According to company law it does not mean an unregistered firm, Firm Pannaji v. Devichand Kapurchand, 99 IC 640.Person, does not include court, Kharka Gigabhai Mavji v. Soni Jagjivan Kanji, (1979) 20 Guj LR 256.Person, implies only an individual and does not bear scrutiny when construed in the case of a company, a firm of partners or an association of persons, J.K. Industries Ltd. v. Chief Inspector of Factories and Boilers, (1997) SCC (205) 1.Person, in an Act of Parliament passed after 1st January, 1890, includes 'any body of persons corporate or unincorporate' unless the contrary intention appears, Interpretation Act, 1889, s. 19. A corporation, such as a limited company, may be a 'respectable and responsible person' within the meaning of a covenant against assignment in a lease, Willmott v. London Road Car Co., (1910) 2 Ch 525. A c...
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