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Transmission Of Shares
Transmission Of Shares. When A Shareholder Dies, The Right To Deal With The Shares Passes To The Executors Or Adminis Trators, Who Produce To The Company For Registration The Probate Of The Will Or The Letters Of Administration. The Date Of The Shareholder's Death Should Be Entered In The Register ...

Travellers Cheques
Travellers' Cheques. The System Of Travellers' Cheques Was Inaugurated By The American Bankers' Association For The Use Of Its Members, That Association, It Is Stated, Having Contracted With The Bankers' Trust Company Of New York For Their Issuance And For Their Protection. The Cheques Are Issued In Denominations Of $10, ...

Treasury Bills
Treasury Bills. These Bills Are Issued By The Treasury Under 40 Vict. C. 2 For Money Borrowed By The Government And Form Part Of The Unfunded Debt Of The Country. They May Be Payable At Three, Or Six, Or Nine, But Not More Than Twelve, Months From The Date Of ...

Trust Receipt
Trust Receipt. When An Advance Is Made Against Bills Of Lading, Some Banks, In Certain Cases, Permit The Customer To Have Possession Of The Bills On His Signing A Trust Receipt, In Which He Acknowledges To Have Received The Bills Of Lading And Agrees To Hold The Goods As The ...

Trustee
Trustee. A Trustee Is The Person To Whom Property Is Intrusted In Order That He May Deal With It In Accordance With The Directions Given By The Creator Of The Trust. The Person For Whose Benefit A Trust Is Created Is Called The Cestui Que Trust (plural, Cestuis Que Trustent). ...

Trustee Investments
Trustee Investments. A Trustee May Invest The Trust Funds Only In Certain Securities. The Trustees Act, 1893, Provides As Follows : " Section 1. A Trustee May, Unless Ex Pressly Forbidden By The Instrument (if Any) Creating The Trust, Invest Any Trust Funds In His Hands, Whether At The Time ...

Trustee Savings Banks
Trustee Savings Banks. The Various Acts Relating To Savings Banks Were Consolidated By The Trustee Savings Bank Act, 1863 (26 6: 27 Vict. C. 87). Before A Trustee Savings Bank Can Be Formed, The Sanction Of The Commissioners For The Reduc Tion Of The National Debt Must Be Obtained. A ...

Trustee In Bankruptcy
Trustee In Bankruptcy. When A Debtor Is Adjudicated Bankrupt, His Property Shall Become Divisible Amongst His Creditors, And Shall Vest In A Trustee. (see Adjudica Tion Of Bankruptcy.) Until A Trustee Is Appointed The Official Receiver Acts As Trustee. The Trustee May Be Appointed By The Credi Tors, Or They ...

Underwriting
Underwriting. An Underwriter Is A Person Who, When An Issue Of Shares Is Being Made By A Company, Agrees, In Consideration Of A Certain Commission, To Apply For, Or Find Someone Else To Apply For, A Certain Number Or All Of The Shares Which Are Not Applied For By The ...

Undeveloped Land Duty
Undeveloped Land Duty. A Duty Imposed By The Finance (1909-10) Act, 1910 (section 16), And Payable For The Year Ending March 31, 1910, And Every Subsequent Year, In Respect Of The Site Value Of Undeveloped Land, Of One Halfpenny For Every Twenty Shillings Of That Site Value. Land Is Deemed ...

Valuation
Valuation. In Endeavouring To Arrive At The Value Of A Property For The Purpose Of Granting A Loan Thereon, It Is Necessary To Ascertain As Nearly As Possible What It Would Be Likely To Sell For At The Present Moment. It May Be Expected That The Land Will, From Various ...

Valuation Of Ship
Ship, Valuation Of. When A Ship, Or Part Of A Ship. Is Offered To A Banker As A Security, The Questions Immediately Arise, What Is The Approximate Present Market Value, And What Change Is Likely To Take Place In The Value In Subsequent Years ? Upon The Correct Answers To ...

Votes
Votes. The Articles Of Association Of A Company Should Be Perused When Informa Tion Is Required Respecting The Voting Power Of Members. In The Case Of A Company To Which The Regulations In Table A Apply (see Section 11 Of The Companies (consolidation) Act, 190s, Under Articles Of Association) The ...

Warrant For Goods
Warrant For Goods. A Document Issued By A Dock Company, A Warehouse Keeper, Or Wharfinger, Stating That The Goods Named Therein Are Deliverable To The Person Mentioned, Or His Assigns By Indorsement. (see Dock Warrant, Warehouse-keeper's Warrant, \vharfinger's Warrant.) The Expression " Warehouse-keeper's Cer Tificate " (as In The Factors ...

Will
Will. A Writing By Which An Owner Of Property Declares What Is To Be Done With It After His Death. The Person Making A Will Is Called The Testator. A Minor Cannot Make A Valid Will. A Testator's Signature Should Be Witnessed By Two Persons. The Following Is A Common ...

Winding Up
Winding Up. Where A Company, For Any Reason, Has To Be Brought To An End, It Is Accomplished By " Winding Up," And The Company Is Said To Be " In Liquidation." It May Be Wound Up Because Of Its Inability, Financially, To Continue, Or Because Of A Reconstruction, Or ...

Winding Up Unregistered Com
Winding Up Unregistered Com Panies. The Companies Consolidation) Act, 1908, Makes Provisions Regarding The Winding Up Of Unregistered Companies. The Expression " Unregistered Company " Does Not Include A Company Registered Under The Joint Stock Companies Acts, Or The Com Panies Act, 1862, Or The Companies (con Solidation) Act, But ...

Winding Up Voluntarily
Winding Up Voluntarily. A Volun Tar• Winding Up, Or Liquidation, Is One Which Is Brought About By The Resolution Of The Company Itself. Where A Solvent Company Desires To Reconstruct, Or To Amalgamate With Another Company, It May Decide To Wind Up And Appoint A Liquidator To Carry Such Resolution ...

Winding Up By The
Winding Up By The Court. A Winding Up By The Court Is Often Called A Compulsory Liquidation. Where The Paid-up Capital Does Not Exceed L:,10,000 Proceedings For A Winding Up May Be Taken In The County Court, Unless The Lord Chancellor Has Excluded It From Having Jurisdiction. The Metropolitan County ...

Yorkshire Registry Of Deeds
Yorkshire Registry Of Deeds. There Are Three Places In Yorkshire For The Registration Of Deeds And Memorials :— Northallerton For The North Riding (established 1734). Beverley For The East Riding (established 1707). The East Riding Includes Kingston Upon-llull. Wakefield For The West Riding (estab Lished 1703;. There Is No Registration ...