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Business Encyclopedia and Legal Adviser

Bank Rate
Bank Rate Is The Name Given To The Price At Which The Bank Of England States Its Willingness To Grant Loans. This Price Varies From Time To Time C..ccording To Periodical Financial Conditions, And Is Generally Some What Higher Than The Market Value Of Money For The Time Being. Though ...

Bank Shares
`bank Shares Are Not For The Speculator In Differences, Nor Are They For The Small Capitalist. The First Class Are Met By An Act Known As Leemans' Act, Which Requires The Delivery Of All Bank Shares Sold On The Stock Exchange. The Result Is That A Purchaser Of Such Shares ...

Banker And
Banker And Customer—the Business Relationship,—the Whole System Of Modern Trade Is Based Upon Credit; And The Branch Of Trade More Dependent Than Any Other Upon Credit Is That Of Banking. The First General Ilipression Is That A Bank Is The One Modern Institution Standing Upon A Cash Foundation As Distinguished ...

Banking
Banking, Scotch.—the Issue Of Bank Notes In Scotland Is Regulated By An Act Of 1845, Founded Upon The Same Principles As The English Act Of 1844, Which Serves As A Charter For The Bank Of England. But The Act Of 1845 Did Not Create An Exclusively Privileged Bank ; For ...

Banking Department
Banking Department. Proprietors' Capital . £14,553,000 Government Securities . £18,022,000 Rest . 3,791,000 Other Securities . . 27,158,000 Public Deposits . . 10,874,000 Notes . . 23,309,000 Other Deposits . 41,204,000 Gold And Silver Coin 2,077,000 Seven-day And Other Bills 144,000 £70,566,000 £70,566,000 Before Proceeding To Consider The Reserve, There ...

Bankruptcy
Bankruptcy, Bcotch.—bankruptcy In Scotland Means Public Insolvency, And Stands Midway Between A Private Insolvency And Sequestra Tion, By Which Latter A Debtor Is Divested Of His Property For The Benefit Of His Creditors. The Technical Term Is Notour Bankruptcy, And It Is Constituted (a) By Sequestration, Or By An Adjudication ...

Bankruptcy
Bankruptcy Is In England The Subject Of, And Regulated By, The Bankruptcy Acts, 1883-1890, Of Which The Act Of 1883 Is The Principal ; And The Bankruptcy Rules Which Have Been Made Thereunder. The Term Is Applied To The Distribution Of The Property Of An Insolvent Person Among His Creditors ...

Barbed Wire
Barbed Wire Means Any Wire With Spikes Or Jagged Projections ; And Its Use For Fences In Roads, Streets, Lanes, And Other Thoroughfares Is Prohibited In The United Kingdom By The Barbed Wire Act, 1893. Where There Is On Any Land Adjoining A Thoroughfare, A Fence Made With Barbed Wire, ...

Bastard
Bastard Is The Term Applied To An Illegitimate Child ; One Not Born In Lawful Wedlock, Or One, Though So Born, Who Has Been Declared Illegitimate By Legal Process. From The Earliest Period The English Law Has Been Peculiarly Strict On The Subject Of Legitimacy, And So Far Back As ...

Bearer Securities
Bearer Securities Are Those Dgcuments Of Title Which Pass From Hand To Hand By Mere Delivery, The Formalities Of Assignment Or Indorsement Not Being Required. Examples Are A Bill Of Exchange, Or A Debenture, Expressed To Be Payable To Bearer. • Beer—beer-houses—beer-retailers.--in Early Times In England Ale And Bread Were ...

Betting And
Betting And Appears That About The Year 1853 The Legislature Became Rather Suddenly Aware Of A Widespread Practice Of Betting, With The Result That In The Same Year Was Passed The Setting Act, 1853. The Preamble To The Act Shows The View Taken By The Legislature Both Of The Nature ...

Bigamy
Bigamy Is A Felony Punishable By Penal Servitude Or Imprisonment. Whoever, Being Married, Marries Any Other Person During The Life Of The Former Husband Or Wife, Whether The Sect Nd Marriage Takes Place In England Or Ireland, Or Elsewhere, Is Guilty Of The Crime. But A Person Not A Subject ...

Bill Of
Bill Of Store.—whatever May Have Been The Origin Of This Term, And However Inexpressive It May Be Of The Purposes For Which It Is Used, It Has Acquired A Distinct Legal Signification, And The Name Is Retained As A Designation Familiar To The Mercantile World. By The Law Regulating The ...

Bill Of
Bill Of Lading.—a Bill Of Lading Is The Written Evidence Of A Contract For The Carriage And Delivery Of Goods Sent By Sea For A Certain Freight, The Contract Being In Legal Language A Contract Of Bailment. In Its Usual Form There Is An Undertaking To Deliver To The Order ...

Bill Of Costs
Bill Of Costs Is The Name Given To The Detailed Statement Of His Charges Rendered By A Solicitor To His Client; And It Would Include Such A Statement Rendered To A Party Other Than His Client Who Is Made Liable There For Under A Judgment Or Order Of Court. The ...

Bill Of Exchange
Bill Of Exchange. The Law Relating To Bills Of Exchange Has Been Summed Up In, And Codified By, The Bills Of Exchange Act, 1882, For Scotland As Well As The Other Parts Of The United Kingdom. As The Subject Is Somewhat Technical, Attention Should Be Paid To The Following Interpreta ...

Bill Of Sale
Bill Of Sale Of A Ship.—every Transfer Of A British Ship Is Required To Be By Way Of A Bill Of Sale, That Is To Say In The Form Specified In The Mer Chant Shipping Act, And Of Which A Copy Is Reproduced In This Work. The Document Must Be ...

Billeting
Billeting. See Appendix. Billiards.—no Person, Unless He Is A Licensed Victualler, May Keep A Billiard Or Bagatelle Table For Public Play, Unle.,s He Holds A Licence Therefor ; Such Licence Is Annual, And Must Be Applied For From The Magistrates In The Same Way As A Liquor Licence, And The ...

Births And Deaths
Births And Deaths Registration—births.—in The Case Of Every Child Born Alive It Is The Duty Of The Father And Mother Of The Child, And In Default Of The Father And Mother, Of The Occupier Of The House In Which, To His Knowledge, The Child Is Born, And Of Each Person ...

Blackleg
Blackleg Is The Epithet Applied To A Man Who Either Refuses To Join A Trade-union, Or When Employees Are Out On Strike Enters Into The Service Of The Employer Who Is An Object Of, Or A Party To, The Strike. The Word Would Not In Itself Sustain An Action For ...

Bleaching And
Bleaching And Dyeing.—this Industry Is Often Carried On By The Aid Of Such Processes As Would Bring The Factory Within The Statutory Regulations Relating To Alkali Works And Chemical Process ; Reference Should Accordingly Be Made To The Articles Under These Titles. In The Process Of Turkey-red Dyeing Young Persons ...

Board Of
Board Of Trade—history And Constitution.—by The Harbour Transfer Act, 1862, It Is Enacted For The Purposes Of That Act That " The Term Board Of Trade' Shall Be Taken To Mean The Lords Of The Committee Of Privy Council For The Time Being Appointed For The Consideration Of Matters Relating ...

Boiler
Boiler Explosion.—notice Hereof Must, Under A Penalty, Be Given To The Board Of Trade Within Twenty-four Hours. A Boiler Requiring Such A Notice Would Include Any Closed Vessel Used For Generating Steam, Or For Heating Water Or Other Liquids, Or Into Which Steam Is Admitted For Heating, Steaming, Boiling, Or ...

Bonded Warehouse
Bonded Warehouse. These Warehouses Are Established For The Storage Of Goods Which Are Liable To Customs Or Excise Duties. When A Merchant Imports Such Goods He Takes Advantage Of This System In Order To Delay Payment Of The Duties Until They Have Been Sold, Or Are Otherwise Required To Be ...

Book Debts
Book Debts, Like Any Other Legal Chores In Action, May Be The Subject Of A Legal Assignment. The Assignment Should Be Absolute, And Not By Way Of Charge Only. Future Debts May Be Assigned. Whether, In A Particular Case, A Part Of A Debt May Be Assigned Is A Question ...

Book Keeping
Book-keeping Is The Art Of Keeping Accounts. In Some Form Or Other This Art Has Been Practised Since The Beginnings Of Commerce ; For Wherever There Is Trade There Also Must Be Its Records. The Accounts, Which Are The Sub Ject Of Book-keeping, Are Those Of Financial Transactions, Not Necessarily ...

Bottomry
Bottomry And Respondentia.—bottomry, In Maritime Law, Is The Pledge Of A Ship As Security For The Repayment Of Money Advanced To An Owner For The Purpose Of Enabling Him To Carry On The Voyage. The Contract Is Usually In The Form Of A Bond, Called A Bottomry Bond. The Term ...

Bought
Bought Ledger.—this Is One Of The Most Important Books That A Trader Keeps, Being As It Is A Summary Of The Purchases He Has Made And His Payments And Credits In Respect Thereof. An Account Should Be Opened For Every Person Or Firm From Whom Purchases Are Made, And Unless ...

Breach Of
Breach Of Promise.—this Is The Name Given To An Action For Damages For Breach Of A Contract Of Marriage. It Is Therefore, Strictly Speaking, An Action Founded Upon Contract, But Nevertheless It Partakes So Much Of The Nature Of A Personal Action As To Be Within The Doctrine Of Actio ...

Breaking Open
Breaking Open A Celebrated Case Reported Three Hundred Years Ago By Sir Edward Coke, We Read " That The House Of Every One Is To Him As His Castle And Fortress, As Well For His Defence Against Injury And Violence As For His Repose." Nor Was This New Law Even ...

Bribery
Bribery Is The Offence Of Giving Or Offering And Taking A Bribe, Pense, Or Reward As The Consideration For, Or Inducement To, The Neglect Or Version Of An Official Duty Or Public Act. The English Law Distinguishes Between Three Main Classes Of Bribery—namely, That Of A Magistrate, That Of A ...

British
British Is The Name Given To A Book Pub Lished Under Statutory Authority By The General Medical Council. It Contains A List Of Medicines And Compounds, And The Manner Of Preparing Them, Together With The Weights And Measures By Which They Are To Be Prepared And Mixed. All Medicines And ...

Building
Building Societies.—this Is The Term Now Applied To Societies Formed For The Purpose Of Raising By The Subscription Of The Members A Stock Or Fund For Making Advances To Members Out Of The Funds Of The Society, Upon Security Of Freehold, Copyhold, Or Leasehold Estate By Way Of Mortgage. The ...

Burglary
Burglary Insurance.—this Class Of Insurance, Since Its Institution Some Twenty-one Years Ago, Has Made Rapid Progress In The Favour Of House Holders And Men Of Business. In Principle It Is The Same As Insurance Against Fire, Being Merely An Indemnity Against Loss, Though The Loss Is Limited To That Sus ...

Business
Business : Is A Ward Of Large And Indefinite Import, And It Has Accordingly Received Many Definitions. Thus It Is Called, Generally, An Employment, A Transaction Of Affairs, An Object Which Engages Care, A Something Required To Be Done. More Particularly It Is Defined As That Which Occupies The Time, ...

Butter
Butter Has Been Defined By The Margarine Act, 1887, As " The Substance Usually Known As Butter, Made Exclusively From Milk Or Cream, Or Both, With Or Without Salt Or Other Preservative, And With Or Without The Addition Of Colouring Matter." By The Same Afl It Is Provided That Any ...

Call
Call On Shares.—this Term May Be Used In Three Different Significa Tions ; It May Be The Subject-matter Of An Option (q Or It May Be The Demand For Contribution Made Upon The Shareholders By The Liquidator Of A Company In Process Of Winding Up [this Form Of Call Will ...

Capital Of
Capital Of A Company.--capital May Be Defined In General Terms As Saved Wealth Devoted To The Creation Of More Wealth. Such Is The Capital With Which A Trader Carries On Business, Whether The Trader Is An Individual Owning His Own Business Or A Group Of Shareholders In A Joint-stock Company. ...

Catalogites Letters Offering And
Letters Offering And Accompanying Weekly Lists, Catalogites, Etc. The Question Of Sending Out A Letter With Every Catalogue Or Booklet Is Sometimes Difficult To Decide, And Must Depend In The Majority Of Cases Upon The Size And Expense Of The Booklet And The Number Of Copies That Are To Be ...

Catching And Underhand
Catching And Underhand Recent Contro Versy Over The Unconscionable And Usurious Practices Of A Certain Class Of Money-lenders And The Legislation Following Thereon Has Apparently Allowed The Public To Infer That, Apart From Special Legislation, The Borrower Of Money Is Always At The Mercy Of The Lender—that The Courts Will ...

Chambers Of Commerce
Chambers Of Commerce Are Voluntary Associations Formed To Promote And Protect General Trade Interests, As Distinguished From Trades Of A Particular Class. In The United Kingdom They Exist In All The Important Centres Of Commerce, And These Local Chambers Are Usually In Federation With A General Association Of Chambers Of ...

Chancery
Chancery Division.—this Is The Title Of One Of The Divisions Of The High Court Of Justice, As Established By The Judicature Acts. This Division Is The Successor Of The Former Court Of Chancery, Which Administered Equity, As Technically Distinguished From Law; Now, Strictly Speaking, There Is No Such Court, Its ...

Charging
Charging Is A Means By Which A Judgment Creditor May Enforce Payment Of His Debt Out Of Property Belonging To The Debtor Which Is Not Available For The Ordinary Processes Of Execution. Where Any Person, Against Whom There Is In Force A Judgment Of The High Court, Has Any Government ...

Chattels
Chattels Is A Term The Significance Of Which Must Be Understood By Every One Who Would Wish To Intelligently Appreciate Almost Any Legal Refer Ence. The Word Is For Ever In Use, And Generally Conjointly With The Word " Goods "—goods And Chattels ; The Latter Word Being The Modern ...

Cheating
Cheating Is An Offence Somewhat Akin To Obtaining Goods Or Money By False Pretences. It May Be Either A Private Or Public Cheat Or Fraud, And Is An Indictable Misdemeanour At Common Law. Certain Forms Of Cheating May, However, Be Punished Upon Summary Conviction. In Cases Where A Cheat Or ...

Chemist And
Chemist And Druggist.—this Term, And Now Also The Term Pharmacist, Are Applied By Statute To Those Persons (a) U Ho, At Any Time Before The 31st July 1868, Carried On In Great Britain The Business Of A Chemist And Druggist, In The Keeping Of Open Shop For The Compounding Of ...

Children Employment
Children (employment Op).--the Employment Of Children Act, 1903, Provides That No Child Shall Be Employed Between The Hours Of 9 P.m. And 6 A.m. Unless The Local Authority By Bye-laws Varies These Hours Generally Or For A Specified Occupation ; That No Child Under Eleven Is To Be Employed In ...

Cinematograph Entf
Cinematograph Entf R2se Are Now Subject To The Provisions Of The Cinematograph Act, 1909. Statutory Regulations Have Been Made By The Home Secretary In Regard To The Character And Dis Position Of The Premises And The Apparatus With A View To Securing Safety. These May Be Obtained From Messrs. Wyman ...

Circular
Circular Notes.—in Order, When Travelling Abroad, To Obviate The Necessity Of Carrying Large Sums Of Money, Or Of Being Put To The Incon Venience And Delay Of Writing Home To One's Bankers For Further Remittances, It Is A Usualice To Carry Circular Notes. These Notes May Be Obtained From A ...

Clearing
Clearing House—banking.—the London Clearing House Is The Name Given To An Institution In London To Which Are Attached All The Leading London Bankers. Such Bankers Are Known As Clearing Bankers, And In Addi Tion To Their Own Business They Generally Act As Agents For Those Banks Who Do Not Belong ...