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|
C
| Capital
gain |
| A
financial gain, made on the disposal of an asset, not in the
form of income. Such gains may be liable tax. |
| Capital
gains tax |
(CGT)
A tax levied upon the gain made in the disposal of assets
acquired after the 19th of September 1985. All net capital
gains that the taxpayer makes on the value of the asset will
be assessed by the Australian Tax Office as income.
|
| Case
law |
| Principles
of law which are formulated by the courts as opposed to those
which are formulated by the legislature. |
| Case
stated |
| A
request from a lower court to a higher court for an opinion
on a point of law involved in a decision. |
| Cause
of action |
The
facts which enable a plaintiff to bring a legal action against
another.
|
| Caveat |
| Latin
- let him beware. A notice to prevent parties taking action
in relation to certain procedures until the caveator's assertion
has been dealt with by a court. Common examples include caveats
lodge on the registration of Torrens title land and caveats
lodged against a grant of probate. |
| Caveat
emptor |
| Latin
- buyer beware. |
| Certificate
of title |
A
document showing the registered proprietor of Torrens system
land and any encumbrances or insterests over the title. Certificates
of title are issued by the Registrar of Titles.
|
| Certiorari |
Latin
– to be informed. A prerogative writ issued by a court which
overrules a decision of a lower court, tribunal or administrative
officer. Grounds for the issuing of such writs include a denial
of natural justice, an error of law or ultra vires.
|
| Company |
| A
company is a legal entity generally formed to acquire profit
through commercial activities. |
| Company
limited by guarantee |
| A
company where members guarantee specified amounts in the event
of liquidation. However, members of such companies are not
required to contribute funds while the company is in operation. |
| Company
limited by shares. |
| A
company where the member's only liability is to the value
of any unpaid portion of their shares. |
| Company
members |
| People
who own shares in a company. |
| Company
secretary |
| An
officer of a company who has authority to deal with administrative
issues. Company secretaries are required to be appointed by
the directors of the company. |
| Constructive
trust |
| A
non-express trust is created without an express declaration
by the settlor. There are 3 main categories of non-express
trusts: Implied, Resulting and Constructive. Unlike an express,
implied and resulting trust which arises from actual intention
(respectively express or implied), a constructive trust arises
not because of any intention of a person holding property
or an interest in property. It comes from the operation of
law. This is because it is inequitable (unfair) for you to
hold that property or interest for yourself. For example,
in equity it is a fraud for you to deny the trust. There are
many examples: a vendor's lien for unpaid purchase money;
a purchaser's lien for prematurely paid purchase money; where
you make a profit from a fiduciary relationship such as renewing
the partnership's lease in your partner's name. |
| Corporation |
| A
legal entity characterised by a common seal, the ability to
own property, the ability to sue and be sued and perpetual
succession. An example is a company. |
| Cross
actions |
| Proceedings
brought by two parties against each other concerning the same
issues. |
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