Vendee - Law Dictionary Search Results
Home Dictionary Name: vendeevendee
vendee : one to whom a thing is sold ...
Vendee
Vendee, one to whom anything is sold....
Further assurance, Covenant for
Further assurance, Covenant for, one of the usual covenants entered into by a vendor for the protection of the vendee's interest in the subject of purchase, to the effect that the vendor will, at the request and cost of the vendee, execute further conveyances, etc., for more perfectly assuring the subject-matter of the conveyance; implied in conveyances made on or after Jan. 1st, 1882, expressed to be made by a 'beneficial owner,' or if other terms of art are employed, according to the case by the Law of Property Act, 1925, s. 76, and the Second Schedule re-enacting and extending s. 7 of the Conveyancing Act, 1881...
Pre-emption
Pre-emption, the word 'pre-emption' is a well understood is a term of law. It is a right of substitution conferred on someone either by statute, custom or contract. The right is to step into the shoes of the vendee preferentially, on the terms of sale already settled between the vendor and the vendee, Vijaylakshami v. B. Himantharaja Chetty, (1996) 9 SCC 376 (381): (1996) 3 Sim LJ 1969....
Salary or wages
Salary or wages, means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include--(i) any other allowance which the employee is for the time being entitled to;(ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of foodgrains or other articles.(iii) any travelling concession;(iv) any bonus (including incentive, production and attendance bonus);(v) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for t...
Purchaser
One who purchases one who acquires property for a consideration generally of money a buyer a vendee...
Blank transfer
Blank transfer, in such blank transfers, the name of the transferor is entered, and the transfer deed signed by the transferor is handed over with the share scrip to the transferee, who, if he so chooses, completes the transfer by entering his name and then applying to the company to register his name in place of the previous holder of the share, Howrah Trading Co v. CIT, AIR 1959 SC 775 (778). [Income-tax Act (11 of 1922) s. 18(5)]--A deed executed with the name of a transferee or vendee in blank is void; but the lender will have an equitable security, Colonial Bank v. Whinney, (1884) 26 CD 257, and this principle is applicable to transfers of shares in companies transferable only by deed; but if transferable under hand only the transfer may be filled in by any one having express authority, or authority to be implied from the nature of the transaction, Hibblewhite v. McMorine, 6 M&W 200, and Powell v. London, etc. Bank, (1893) 2 Ch 555.If in a will the name of a legatee is left blank,...
Earnest money
Earnest money, The earnest money is a part of the purchase price when the transaction gets through and the same is forfeited when the transaction falls through by reason of the default or failure on the part of the vendee, H.U.D.A. v. Kewal Krishan Goel, (1996) 4 SCC 249: AIR 1996 SC 1981.The earnest money is part of the purchase price when the transaction goes forward and it is forfeited when the transaction falls through, by reason of the fault or failure of the purchase. Earnest money or deposit serves two purposes of being part-payment of the purchase money and security for the performances of the contract by the party concerned, who paid it. (AIR 1926 PC 1), Videocon Properties Ltd. v. Bhalchandra Laboratories, (2004) 3 SCC 711: AIR 2004 SC 1787 (1793). [Transfer of Property Act, 1882, s. 55(6)(b)]A deposit paid (usu in escrow) by a prospective buyer (esp. of real estate) to show a good faith intention to complete the transactions and ordinarily forfeited if the buyer default, Bla...
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...
Mancipatio
Mancipatio. Every father, in the Roman law, had such an authority over his son, that before the son could be released from his subjection and made free he must be twice sold and bought, his natural father being in the first instance the vendor. The vendee was called pater fiduciarius. After this fictitious bargain, the pater fiduciarius sold him again to his natural father, who could then, but not till then, manumit or make him free. The imaginary sale was called mancipatio; and the act of giving him liberty, or setting him free, was called emancipatio.Also selling or alienating of certain lands by the balance or money paid by weight, and in the presence of five witnesses. This mode of alienation took place only among Roman citizens, and that only in respect to certain estates situated in Italy, which were called mancipia, Encyc. Londin. Abolished by Justinian, when he obliterated the distinction between things mancipi and things nec mancipi. See Sand. Just.; Maine's Ancient Law....
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