Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Broker
n. 1. An agent who acts as an intermediary or negotiator, esp. between prospective buyers and sellers; a person employed to make bargains and contracts between other persons in matters of trade, commerce, and navigation. 0 A broker differs from a factor because the broker usu. does not have possession of the property. Cf. FACTOR. 2. Securities. A person engaged in the business of conducting securities transactions for the accounts of others. -broker, ub. "The most important determining factor of what constitutes a 'broker' is whether the party is dealing for itself or for another. A broker may, by contract, have title to property pass through it (though usually it does not), and it may, by contract, collect from the consumer, but a broker does not deal on its account. Two preliminary requirements must be met for a finding that an individual is acting as a broker: (1) the person is acting for compensation; and (2) the person is acting on behalf of someone else." 12 Am. Jur. 2d Brokers § 1 (1997).
Brokerage
1. The business or office of:, broker <a profitable stock brokerage%. 2. A. roker's fee <collect the brokerage after tai? house sells>.
Pawnbroker
n. One who lends money, usu. at a high interest rate, in exchange for personal property that is deposited as security by the borrower. - pawnbroking, n.
Stockbroker
One who buys or sells stock as agent for another. - Also termed account executive; account representative.
bill broker.
A middleman who negotiates the purchase or sale of commercial paper.
broker call loan
See call loan.
broker for sale
See BROKER.
broker's broker
A municipal securities broker or dealer that routinely effects transactions for the account of other brokers, dealers, and municipal securities dealers.
broker-agent
See BROKEP?.
broker-dealer
See BROKER.
brokerage contract
An agency agreement employing a broker to make contracts in the name of and on behalf of the principal and for which the broker receives a commission. brokerage listing See 1ASTINC
commercial broker
See BROKER.
commission broker
A member of a stock or commodity exchange who executes buy and sell orders.
customhouse broker
A broker who prepares paperwork for the entry or clearance of ships, and for the import or export of goods. Also termed customs broker.
customs broker
See customhouse broker under BROKER.
discount broker
See BROKER.
exchange broker
One who negotiates money or merchandise transactions for others.
government-securities interdealer broker
A broker engaged exclusively in the business of transacting in government securities for parties that are themselves government brokers or dealers.
institutional broker
A broker who trades securities for institutional clients such as banks, mutual funds, pension funds, and insurance companies.
insurance broker
Insurance A person who, for compensation, brings about or negotiates contracts of insurance as an agent for someone else, but not as an officer, salaried employee, or licensed agent of an insurance company. 0 The broker acts as an intermediary between the insured and the insurer. - Also termed producer.
justice-broker
Archaic. A judge who sells judicial decisions.
loan broker
A person who is in the business of lending money, usu. to an individual, and taking as security an assignment of wages or a security interest in the debtor's personal property.
loan-brokerage fee
See MORTGAGE DISCOUNT,
marriage broker
One who arranges a marriage in exchange for consideration. ( A marriage broker may be subject to criminal liability for public-policy reasons.
merchandise broker
One who negotiates the sale of merchandise without possessing it. * A merchandise broker is an agent with very limited powers.
money broker
A broker who negotiates the lending or raising of money for others.
money broker.
See BROKER.
mortgage broker
See BROKER.
note broker
See BROKER.
real-estate broker
See BROKER.
registered broker
See BROKER.
responsible broker-dealer
A broker-dealer who communicates bids or offers on the floor of a stock exchange at the designated location for trading in a reported security or who, in an off-exchange transaction, communicates the bid or offer as either a principal or an agent, for its own or another's account. SEC Rule 11Ac1-1(a)~21) li7 (TR § 240.11Ac1-1(a)(21)i.
securities broker
A broker employed to buy or sell securities for a customer, as opposed to a securities dealer, who trades as a principal before selling the securities to a customer. :gee DEALER, '2).
ship broker
Maritime law. 1. The business agent of a shipowner or charterer; an intermediary between an owner or charterer and a shipper. 2. One who negotiates the purchase and sale of a ship.