Net

Clear of anything extraneous, with all deductions (such as charges, expenses, discounts, commissions, taxes, etc.) made; after deductions made; clear of all charges; free from expenses. 198 111. 311.

Clear of all charges and deductions; that which remains after the deduction of all charges or outlay, as net profit. St. John v. R. Co., 22 Wall. (U. S.) 148, 22 L. Ed. 743. The exact weight of an article, without the bag, box, keg, or other thing in which it may be enveloped.

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.

That quantity or amount of a commodity or thing which remains after the deduction of all tare, charges or outlay.

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.