What is CAPITAL? Definition of CAPITAL in Black's Law Dictionary – Legal dictionary – Glossary of legal terms.
adj. Affecting or relating to the head or life of a person; entailing the ultimate penalty. Principal; leading; chief; as "capital burgess." 10 Mod. 100.
Capital Assets. All capital invested plus surplus or undivided profits. Williams v. McGowan, D.C.N.Y., 58 F. Supp. 692, 694, 695; Assets of a permanent or fixed nature or employed in carrying on business or trade. Rathborne v. Collector of Revenue, 196 La. 795, 200 So. 149, 153, 154; goodwill, Williams v. McGowan, D.C.N.Y., 58 F.Supp. 692, 694, 695, Commissioner of Internal Revenue v. Shapiro, C.C.A.6, 125 F.2d 532, 535, 536; property acquired and held for profit or investment for more than two years. Sommers v. Commissioner of Internal Revenue, C.C.A.10, 63 F.2d 551, 553; title to property held for profit. Jones' Estate v. Commissioner of Internal Revenue, C.C.A.Tex., 127 F.2d 231, 232.
Capital Case or Crime. One in or for which death penalty may, but need not necessarily, be inflicted, Lee v. State, 31 Ala.App. 91, 13 So.2d 583, 587.
Capital Expenditure. Cost of construction made with expectation of existence for an indefinite period, E. W. Edwards & Son v. Clarke, D.C.N.Y., 29 F.Supp. 671, 672, 673, expenditure in nature of an investment for the future, Marin Union Junior College Dist. v. Gwinn, 106 Cal.App. 12, 288 P. 799, 800. Capital Gains Additions to principal, Holcombe v. Ginn, 296 Mass. 415, 6 N.E.2d 351, 108 A.L.R. 1134; gains from sale of capital assets in excess of appraisal values or costs, In re Talbot's Will, 170 Misc. 138, 9 N.Y.S.2d 806, 810. 4
Capital Impairment. Reduction of assets of corporation below aggregate of outstanding shares of capital stock. Ashman v. Miller, C.C.A.Mich., 101 F.2d 85, 90.
Capital Increase. An increase not attributable to earnings. In re Lueders' Estate, 337 Pa. 155, 10 A.2d 415, 417.
Capital Investment. Acquisition price of a "capital asset", Commissioner of Internal Revenue v. Rowan Drilling Co., C.C.A.Tex., .130 F.2d 62, 64, 65; capital stock, surplus and undivided profits, O'Connor v. Bankers Trust Co., 159 Misc. 920, 289 N.Y.S. 252, 276; money spent to increase an asset. Peerless Stages v. Commissioner of Internal Revenue, C.C.A.9, 125 F.2d 869, 871.
Capital Outlay. Money expended in 'acquiring, equipping, and promoting an enterprise. Rideout v. Eich, 105 Cal.App. 597, 288 P. 450, 454.
Capital Punishment. Punishment of death. Ex parte Herndon, 18 Okl.Cr. 68, 192 P. 820, 19 A.L.R. 804, State v. Johnston, 83 Wash, 1, 144 P. 944, 945.
Capital Recovery. Collection of charged-off bad debt where reserve account system is used. National Bank of Tulsa v. Oklahoma Tax Commission, Okl., 145 P.2d 768, 771, 772,
Capital Stock. The term has various meanings. It may mean : amount fixed by charter to be subscribed and paid in or secured to be paid in by shareholders. State ex rel. Corinne Realty Co. v. Becker, 320 Mo. 908, 8 S.W.2d 970, 971. Amount of stock that corporation may issue. Schwemer v. Fry, 212 Wis. 88, 249 N.W. 62, 90 A.L.R. 308; amount subscribed, contributed or secured to be paid in. Haggard v. Lexington Utilities Co., 260 Ky. 261, 84 S.W. 2d 84, 87; Person v. Board of State Tax Com'rs, 184 N.C. 499, 115 S.E. 336, 346; capital, Central Illinois Public Service Co. v. Swartz, 284 Ill. 108, 119 N.E. 990, 992; Louisville & N. R. Co. v. Bosworth, D.C.Ky., 209 F. 380, 411, corporate assets or property, Bates v. Daley's Inc., 5 Cal. App.2d 95, 42 P.2d 706, 709; evidence of rights in property. Southern Package Corporation v. State Tax Commission, 195 Miss. 864, 15 So.2d 436; fund employed in carrying on business or enterprise, Chicago, M., St. P. & P. R. Harmon, 89 Mont. 1, 295 P. 762, 769: liability of the corporation to its shareholders, after creditors' claims have been liquidated, Department of Treasury of Indiana v. Crowder, 214 Ind. 252, 15 N.E.2c1 89, 91; valuation of the corporation as a business enterprise, Commonwealth v. Columbia Gas & Electric Corporation, 336 Pa. 209, 8 A.2d 404, 410.
Capital Stock Tax. Tax on privilege of doing business, Wisconsin Cent. Ry. Co. v. U. S., Ct.C1., 41 F.2d 870, 885.
Capital Surplus. Property paid into corporation by shareholders in excess of capital stock liability. Commissioner of Corporations and Taxation v. Filoon, 310 Mass. 374, 38 N.E.2d 693, 699, 700.
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That's the definition of CAPITAL in Black's Law Dictionary – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.
