Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Assurance
n. 1. Something that gives confidence; the state of being confident or secure < self-assurance > . 2. A pledge or guarantee <adequate assurances of the borrower's solvency . 3. The act of transferring real property; the instrument by which it is transferred <the owner's assurance of the farm to his son>. 4. English law. See life insurance under insurance <she obtained assurance before traveling abroad, naming her husband as the beneficiary. - assure, vb.
Collateral assurance
a pledge made in addition to the principal assurance of an agreement.
Common assurance.
see muniment of title. Further assurance. A covenant contained in a warranty deed whereby the grantor promises to execute any document that might be needed in the future to perfect the title that the original deed purported to transfer.
Reassurance
See REINSURANCE.
adequate assurance.
Bankruptcy. Evidence that a debtor will probably be able to perform its obligations under a contract, such as the posting of a bond or a showing that the debtor will generate sufficient income to pay any arrearages and future payment obligations.
collateral assurance
See ASSURANCE.
common assurance
See MUNIMENT OF TITLE.
covenant for further assurances
A covenant to do whatever is reasonably necessary to perfect the title conveyed if it turns out to be imperfect. See further assurance under ASSURANCE.