Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Area bargaining
negotiation by a union of collective-bargaining agreements with scwer~ employers in a particular geographic area.
Bargain
n. An agreement between parties for the exchange of promises or performances. ( a bargain is not necessarily a contract because the consideration may be insufficient or the transaction may be illegal. - bargain, ub. "a bargain is an agreement of two or more persons to exchange promises, or to exchange a promise for a performance. Thus defined, 'bargain' is at once narrower than 'agreement' in that it is not applicable to all agreements, and broader than 'contract,' since it includes a promise given in exchange for insufficient consideration. It also covers transactions which the law refuses to recognize as contracts because of illegality." samuel williston, a treatise on the law of contracts § 2a, at 7 (walter h.e. jaeger ed., 3d ed. 1957).
Bargain and sale
a written agreement for the sale of land whereby the buyer would give valuable consideration (recited in the agreement) without having to enter the land and perform livery of seisin, so that the parties equitably "raised a use" in the buyer. ( the result of the bargain and sale was to leave the legal estate in fee simple in the seller and to create an equitable estate in fee simple in the buyer.
Bargain money.
see earnest money.
Bargain purchase.
see bargain sale
Bargain sale
a sale of property for less than its fair market value. 0 for tax purposes, the difference between the sale price and the fair market value must be taken into account. And bargain sales between family members may lead to gift-tax consequences. - also termed bargain purchase.
Bargain theory of consideration.
the theory that a promise in exchange for a promise is sufficient consideration for a contract. ( this theory underlies all bilateral contracts. See bilateral contract under contract. "we saw earlier that classical contract theory tended to associate the doctrine of consideration with the concept of bargain. The emphasis of classical law shifted away from actual benefits and detriments to the mutual promises which constitute a wholly executory contract. American lawyers developed from this trend a bargain theory of consideration' and similarly in english law a more modern basis for the doctrine of consideration was found by some lawyers in the notion that a contract is a bargain in which the consideration is the price of the bargain. Allied to this price' of the bargain." p.s. atiyah, an introduction to the law of contract 119 (3d ed. 1981)
Bargain-and-sale deed.
see deed.
Bargainee.
the buyer in a bargained-for exchange.
Bargaining agent.
see agent.
Bargaining unit
A group of employees authorized to engage in collective bargaining on behalf of all the employees of a company or an industry sector.
Bargainor
The seller in a bargained-for exchange.
bargain-and-sale deed
A deed that conveys property to a buyer for valuable consideration but that lacks any guarantee from the seller about the validity of the title. See BARGAIN AND SALE.
bargaining agent
a labor union in its capacity of representing employees in collective bargaining.
benefit-of-bargain rule.
See BENEFIT-OF-THEBARGAIN RULE.
benefit-of-the-bargain damages
Damages that a breaching party to a contract must pay to the aggrieved party, equal to the amounts that the aggrieved party would have received, including profits, if the contract had been fully performed.
benefit-of-the-bargain damages.
See DAMAGES.
benefit-of-the-bargain rule.
1. The principle that a party who breaches a contract must provide the aggrieved party everything the aggrieved party would have received, including profits, had the contract been fully performed. 2. The principle that a defrauded buyer may recover from the seller as damages the difference between the misrepresented value of the property and the actual value received. - Also termed benefit-of-bargain rule. Cf. OUT-OF-POCKET RULE.
certification of bargaining agent
See UNION CERTIFICATION.
collective bargaining
Negotiations between an employer and the representatives of organized employees to determine the conditions of employment, such as wages, hours, and fringe benefits. See CONCESSION BARGAINING. "Collective bargaining means the joint determination by employees and employers of the problems of the employment relationship. Such problems include wage rates and wage systems, hours and overtime, vacations, discipline, work loads, classification of employees, layoffs, and worker retirement. The advent of collective bargaining does not give rise to these problems. Rather they are germane to the industrial relations environment, and exist with or without unionization." Benjamin J. Taylor & Fred Whitney, Labor Relations Law 3 (1971).
collective-bargaining agreement
Labor law. A contract that is made between an employer and a labor union and that regulates employment conditions. - Also termed collective labor agreement; trade agreement.
concession bargaining
Labor law. A type of collective bargaining in which the parties negotiate the employees' giving back previously gained improvements in wages, benefits, or working conditions in exchange for some form of job security, such as protection against layoffs. - Also termed employee givebacks; union givebacks. See COLLECTIVE BARGAINING.
failure to bargain collectively
An employer's refusal to discuss labor issues with a union.
good-faith bargaining
Labor law. Negotiations between an employer and a representative of employees, usu. a union, in which both parties meet and confer at reasonable times with open minds and with a view to reaching an agreement. 0 The National Labor Relations Act requires good-faith bargaining, and failure to bargain in good faith is considered an unfair labor practice. 29 USCA §§ 151-169. See UNFAIR LABOR PRACTICE.
loss-of-bargain damages
See expectation damages.
loss-of-bargain rule
The doctrine that damages for a breach of a contract should put theinjured party in the position it would have been in if both parties had performed their contractual duties.injured party in the position it would have been in if both parties had performed their contractual duties.
mandatory subject of bargaining
Labor law. A topic that is required by the National Labor Relations Act to be discussed in good faith by the parties during labor negotiations; an essential employment matter, including wages, hours, and other terms and conditions of employment, about which management and the union are required to negotiate in good faith, and that can lawfully form the basis of a collective-bargaining impasse. 29 USCA § 158(d). -Often shortened to mandatory subject. Cf. PERMISSIVE SUBJECT OF BARGAINING.
permissive subject of bargaining
Labor lau. An employment or collective-bargaining issue, other than a basic employment issue, that is not required to be the subject of collective bargaining but that cannot be implemented by management without union approval. ( For example, altering the scope of the bargaining unit does not affect a term or condition of employment, so it is a permissive, instead of mandatory, subject of bargaining. Disagreement on a permissive subject of bargaining cannot be used as the basis for an impasse in negotiating a collective-bargaining agreement, unlike a mandatory subject of bargaining. -Often shortened to permissiue .subject. Cf. MANDATORY SUBJECT.
plea bargain
n. A negotiated agreement between a prosecutor and a criminal defendant whereby the defendant pleads guilty to a lesser offense or to one of. multiple charges in exchange for some conession by the prosecutor, usu. a more lenient sentence or a dismissal of the other charges. - Also termed plea agreement; negotiated plea. - plea-bargain, ub. -plea-bargaining, n.
time-bargain
See FUTURES CONTRACT.