Net
Dictionary of Terms and Phrases Used in American or English Jurisprudence · Benjamin Vaughan Abbott · 1879
Dictionary of Terms and Phrases Used in American or English Jurisprudence
NEAT, or NETT. After deductions made; clear of charges; free from expenses.
Net balance
The proceeds of sale, after deducting expenses.
Evans v. Wain, 71 Pa. St. 69.
Net earnings, in a contract giving preferred stockholders in a railroad company a priority in payment out of the net earnings of the road, means what remained of the earnings of the road after deducting expenses incurred by the company in conducting its operations in good faith free from dictation by the preferred stockholders.
St. John v. Erie R. R. Co., 22 Wall. 146.
Net earnings, or income, as used in Pa. Law of 1864, § 2, taxing corporations.
And see St. John v. Erie Railw. Co., 10 Blatchf. 271.
Net income
There is no fair distinction between "income" and "net income." Net is a term used among merchants to designate the quantity, amount, or value of an article or commodity, after all tare and charges are deducted. The income of an estate means nothing more than the profit it will yield after deducting the charges of management, or the rent which may be obtained for the use of it. The rents and profits of an estate, the income, or the net income of it, are all equivalent expressions.
Andrews v. Boyd, 5 Me. 199.
Net profits
This term does not mean what is made over the losses, expenses, and interest on the amount invested. It includes the gain that accrues on the investment, after deducting simply the losses and expenses of the business. If but two or three per cent is realized on the amount put in, the business may be a poor one, but still there would be net profits, even if the legal rate of interest were ten per cent, or greater. Hence a partner, who is by the copartnership articles to receive a certain share of the net profits, has no claim to interest on his contribution of capital. Tutt v. Land, 50 Ga. 339, 350. "Net profits," in articles of copartnership, varies in meaning according to the peculiar circumstances of the case.
Fuller v. Miller, 105 Mass. 103.
Net proceeds
Under an agreement, by a manufacturer, to allow another a "third of the net proceeds of what might be made therefrom," it was held, that before dividing the profits the value of the labor and materials was to be deducted.
Dunlap v. O'Dena, 1 Rich. Eq. 272.
Net weight
The weight of the contents, the merchandise, &c., within a box or parcel, excluding that of the bag, box, cask, or keg; the weight of an animal taken after it is dressed for market, and excluding that of hide, offal, &c.