claims of people claiming by, though, or under the grantor is a limited warranty deed | True | A default by a landlord under the lease generally gives the tenant the right to | Sue the landlord for performance | A determination as to whether property is located in a flood hazard zone is made by the title examiner | False | A farm owner who gives a person permission to fish in his lake gives the person | License | A fee simple absolute estate has a potential infinite duration and unrestricted
Words: 3883 - Pages: 16
Introduction: A property may be transferred either orally, that is, by delivery of possession or, through a written document. Where a property is transferred through a written document, the transferor is said to execute the deed/ document of transfer. Such transferor is called the executant. It is necessary under the law that two persons must affirm, or become witness to the fact that executant and nobody else, has written or signed the deed of transfer. This act of giving evidence of becoming
Words: 2411 - Pages: 10
statutory scheme that includes laws that cover aspects of commercial transactions. Elements of a Contract: 1. Agreement – between parties, requires an offer and an acceptance, and mutual assent. 2. Consideration – EX: money, personal or real property, provision of services. 3. Contractual Capacity – have to have the ability to enter into the contract – have to be sane. 4. Lawful Object – can’t be an illegal contract, or involve illegal duties/sutf. Two defenses may be raised to the
Words: 3814 - Pages: 16
INTRODUCTION In case of transfer of land, pre-emption simply means right to purchase first. In other words, the act of buying a plot of land before of ahead of others. Section 96 of The State Acquisition and Tenancy Act, 1950 and section 24 of The Non-Agricultural Tenancy Act, 1949 have described the provisions for pre-emption. Section 96 of The State Acquisition and Tenancy Act, 1950 was substituted by section 2 of The State Acquisition and Tenancy (Amendment) Act, 2006. However, provisions of
Words: 4302 - Pages: 18
Federal Financial Management System Requirements Property Management Systems Requirements JFMIP-SR-00-4 October 2000 What is JFMIP? The Joint Financial Management Improvement Program (JFMIP) is a joint undertaking of the U.S. Department of the Treasury, the General Accounting Office, the Office of Management and Budget, and the Office of Personnel Management, working in cooperation with each other and other agencies to improve financial managemen t practices in Government. The Program
Words: 13719 - Pages: 55
Business Law Week 3 Lecture I. Types of Property a. What is real property? Not moveable b. What is personal property? Property is classified according to whether or not it can be moved. Moveable property II. Personal Property c. What are the two different types of personal property: i. Tangible Personal Property is moveable property that can be seen touched, and possessed 1. Examples: Clothing, food, silverware, musical instruments, desks
Words: 630 - Pages: 3
securing to him a deferred annuity or making provision for his spouse or children, in so far as the sum so deducted does not exceed one-fifth of the salary; (iv) as a contribution by an individual to any provident fund to which the Provident Funds Act, 1925 (19 of 1925) applies; (v) as a contribution to any provident fund set up by the Central Government and notified by it in this behalf in the Official Gazette, where such contribution is to an account standing in the name of any person specified
Words: 3074 - Pages: 13
MASTER MINDS - QUALITY EDUCATION BEYOND YOUR IMAGINATION 28. Wealth Tax Act, 1957 ChargeabilitySec.3: Wealth tax is charged for every assessment year in respect of the net wealth on the corresponding valuation date of every Individual; Hindu Undivided Family and Company at the rate of 1% of the amount by which the net wealth exceeds Rs.15 Lakhs. Education Cess of 3% is not leviable on the amount of Wealth Tax. Applicability of wealth tax: 1. Individual: The following persons treated as
Words: 12386 - Pages: 50
Section 58(a) of Transfer of Property Act as "the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability" It works on the simple idea of lien over another's property and is effected as an instrument between the lender and borrower. The borrower seeks a loan against the security of his property. This is done
Words: 1652 - Pages: 7
Competition Law and Intellectual Property Rights with Special Reference to the TRIPS Agreement Research Paper for the Competition Commission of India February-March 2010 Eashan Ghosh V Year, B.A. LL.B. (Hons.) National Law School of India University, Bangalore TABLE OF CONTENTS §1 THE IPR AND COMPETITION LAW INTERFACE_____2 §2 TYPES OF RESTRAINTS_____3 §3 COMPETITION LAW REGULATION OF IPRs ACROSS JURSIDICTIONS_____4 §3.1 Europe_____4 §3.2 US_____4 §3.3 Other Jurisdictions_____5 §4 THE TRIPS
Words: 16676 - Pages: 67
