Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Beneficiary
n. A person who is designated to benefit from an appointment, disposition, or assignment (as in a will, insurance policy, etc.); one designated to receive something as a result of a legal arrangement or instrument. - beneficiary, adj.
Beneficiary heir
see heir.
Contingent beneficiary
The person designated in a life-insurance policy to receive the proceeds if the primary beneficiary is unable to do so. - also termed secondary beneficiary. Creditor beneficiary. A third-party beneficiary who is owed a debt that is to be satisfied by performing the contract. Direct beneficiary. See intended beneficiary.
Donee beneficiary.
A third-party beneficiary who is intended to receive the benefit of the contract's performance as a gift from the promisee. Favored beneficiary. See favored beneficiary.
Incidental beneficiary
A third-party beneficiary who is not intended to benefit from a contract and thus does not acquire rights under the contract. Cf. Intended beneficiary.
Income beneficiary.
A person entitled to income from property; esp., a person entitled to receive trust income.
Intended beneficiary
a third-party beneficiary who is intended to benefit from a contract and thus acquires rights under the contract as well as the ability to enforce the contract once those rights have vested. -also termed direct beneficiary. Cf., incidental beneficiary.
Primary beneficiary.
The person designated in a life-insurance policy to receive the proceeds when the insured dies.
Secondary beneficiary
see contingent beneficiary.
Third party beneficiary
A person who, though not a party to a contract, stands to benefit from the contract's performance. Or example, if ann and bob agree to a contract under which bob will render some performance to chris, then chris is a third party beneficiary.
Unborn beneficiary
a person named in a general way as sharing in an estate or gift though not yet born.
beneficiary heir
Civil law. An heir who accepts an inheritance but files a benefit of inventory to limit his or her liability for estate debts to the value of the inheritance. - Also termed heir beneficiary. See BENEFIT OF INVENTORY. Cf. unconditional heir.
contingent beneficiary
See BENEFICIARY.
creditor beneficiary
See BENEFICIARY
direct beneficiary
See intended beneficiary under BENEFICIARY.
donee beneficiary
See BENEFICIARY.
favored beneficiary
Wills & estates. A beneficiary who receives more willed property than others having equal claims to the property, raising a presumption of the beneficiary's undue influence over the testator. See UNDUE INFLUENCE.
heir beneficiary.
See HAYBOTE.
incidental beneficiary
See BENEFICIARY.
income beneficiary
See BENEFICIARY.
life beneficiary
One who receives payments or other benefits from a trust for life.
primary beneficiary
See BENEFICIARY.
qui personal property that lasts for the life of the holder of the estate and that is equitable as opposed to legal in its creation. ( An example is a life estate held by a trust beneficiary. equitabl
See LIFE TENANT.
secondary beneficiary
See contingent beneficiary under BENEFICIARY.
third-party beneficiary
See BENEFICIARY.
third-party-beneficiary contract
A contract that directly benefits a third party and that gives the third party a right to sue any of the original contracting parties for breach.
unborn beneficiary
See BENEFICIARY.