Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Absolute assignment
an assignment that leaves the assignor no interest in the assigned property or right.
Assignment
n. 1. The transfer of rights or property <assignment of stock options>. 2. The rights or property so transferred <the creditor took the assignment>.
Assignment for the benefit of creditors
assignment of a debtor's property to another person in trust so as to consolidate and liquidate the debtor's assets for payment to creditors, any surplus being returned to the debtor this procedure serves as a state-law substitute for federal bankruptcy proceedings. The debtor is not discharged from unpaid debts by this procedure since creditors do not agree to any discharge.
Assignment in gross
a transfer of a company's trademark separately from the goodwill of the business. ( courts often hold that such an assignment passes nothing of value to the transferee.
Assignment of account
an assignment that gives the assignee the right to funds in an account, usu. To satisfy a debt.
Assignment of dower
The act of setting apart a widow's share of her deceased husband's real property.
Assignment of error
a specification of the trial court's alleged errors on which the appellant relies in seeking an appellate court's reversal, vacation, or modification of an adverse judgment. Pl.
Assignment of income
see assignment of wages under assignment (2).
Assignment of lease
an assignment in which a lessee transfers the entire un expired remainder of the lease term, as distinguished from a sublease transferring only a portion of the remaining term.
Assignment of rights
contracts. The transfer of rights from a party to a contract to a third party.
Assignment of wages
a transfer of the right to collect wages from the wage earner to a creditor. - also termed assignment of income.
Assignment pro tanto
see assignment (2).
Assignment-of-rents clause
a mortgage provision. Or separate agreement that entitles the lender to collect rents from the mortgaged premises if the borrower defaults.
Assignments of error
see error. Cf. Writ of error.
Collateral assignment
an assignment of property as collateral security for a loan. Common-law assignment an assignment for the benefit of creditors made under the common law, rather than by statute.
Conditional assignment
an assignment of income (such as rent payments or accounts receivable) to a lender, made to secure a loan. The lender receives the assigned income only if the assignor defaults on the underlying loan.
Effective assignment
an assignment that terminates the assignor's interest in the property and transfers it to the assignee.
Equitable assignment
an assignment that, although not legally valid, will be recognized and enforced in equity - for example, an assignment of a chose in action or of future acquisitions of the assignor. ( to accomplish an "equitable assignment," there must be an absolute appropriation by the assignor of the debt or fund sought to be assigned. Fly
Foreign assignment
an assignment made in a foreign country or in another jurisdiction.
General assignment
assignment of a debtor's property for the benefit of all the assignor's creditors, instead of only a few. - also termed voluntary assignment. See assignment for the benefit of creditors.
Gratuitous assignment
an assignment given or taken in either of two ways: (1) in exchange for a performance or return promise that would be consideration for a promise; or (2) as security for - or in total or partial satisfaction of - a preexisting obligation.
Mesne assignment
(meen). A middle or intermediate assignment; any assignment before the last one.
New assignment
hist. A plaintiff's restatement of a claim because the first complaint did not contain sufficient details. ( the purpose was to allow a plaintiff to reply to a defendant's responsive plea that did not address the plaintiffs specific claim because the complaint was too general. New assignment has been replaced by amended pleadings. -also termed novel assignment.
Partial assignment
the immediate transfer of part but not all of the assignor's right. Preferential assignment see preferential transfer.
Power assignment
a blank written assignment that, when attached to a stock certificate, renders the stock transferable.
Total assignment
an assignment empowering the assignee to enforce the, entire right for the benefit of the assignor or others. 0 examples are assignment to secure an obligation and assignment to a trustee.
Voluntary assignment
see general assignment.
Wage assignment.
An assignment by an employee of a portion of the employee's pay to another (such as a creditor).the instrument of transfer <the assignment was appended to the contract>. 4. A task, job, or appointment <the student's math assignment> <assignment as ambassador to a r •reign country>.]
absolute assignment
See ASSIGNMENT (2).
collateral assignment
See ASSIGNMENT (2).
common-law assignment
See ASSIGNMENT (2) common-law bond. See BOND (2)
conditional assignment
See ASSIGNMENT (2).
effective assignment
See ASSIGNMENT (2).
equitable assignment
See ASSIGNMENT (2).
errors, assignment of
See ASSIGNMENT OF ERRORS.
fly-power assignment.
See ASSIGNMENT (2).
foreign assignment
See ASSIGNMENT (2).
general assignment
See ASSIGNMENT (2).
gratuitous assignment.
See ASSIGNMENT (2).
mesne assignment
See ASSIGNMENT (2).
new assignment
See ASSIGNMENT (5).
novel assignment
See new assignment under ASSIGNMENT (5).
partial assignment
See ASSIGNMENT 12).
preferential assignment
See PREFERENTIAL TRANSFER.
total assignment
See ASSIGNMENT (2)
voluntary assignment
See general assignment under ASSIGNMENT.
wage assignment
See ASSIGNMENT (2)
warranty of assignment
An assignor's implied warranty that he or she (1) has the rights assigned, (2) will do nothing to interfere with those rights, and (3) knows of nothing that impairs the value of the assignment.