Net — Black's (1910) Law Dictionary

Clear of anything extraneous; with all deductions, such as charges, expenses, discounts, commissions, taxes, etc.; free from expenses. St. John v. Erie R. Co., 22 Wall. 148, 22 In Ed. 743; Scott v. Hartley, 126 Ind. 239, 25 N. E. 826; Gibbs v. People's Nat. Bank, 198 III. 307, 64 N. E. 1060.

— Net balance. The proceeds of sale, after deducting expenses. Evans v. Wain, 7l Pa-69.

— Net earnings. See Earnings.

— Net income. The profit or income accruing from a business, fund, estate, etc., after deducting nil necessary charges and expenses of every kind. Jones & Nimick Mfg. Co. v. Com., 69 Pa. 137; In re Young, 15 App. Div. 285, 44 N. Y. Supp. 585; Fickett v. Cohn (Co.m. PI.) 1 N. Y. Supp. 436.

— Net premium. In the business of life insurance, this term is used to designate that portion of the premium which is intended to meet the cost of the insurance, bath current and future; its amount is calculated upon the basis of the mortality tables and upon the assumption that the company will receive a certain rate of interest upon all its assets; it does not include the entire premium paid by the assured, but does include a certain sum for expenses. Fuller v. Metropolitan It. Ins. Co., 70 Co.nn. 647, 41 Atl. 4.

— Net price. The lowest price, after deducting all discounts.

— 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. Tutt v. Land, 50 Ga. 350.

— Net tonnage. The net tonnage of a vessel is the difference between the entire cubic contents of the interior of the vessel numbered in tons and the space occupied by the crew and by propelling machinery. The Thomas Melville, 62 Fed. 749, 10 C. C. A. 619.

— Net weight. The weight of an article or collection of articles, after deducting from the gross weight the weight of the boxes, covenngs. casks, etc., containing the same. The' weight of an animal dressed for sale, after rejecting hide, offal, etc.