Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Closed
adj. 1. (Of a class or organization) confined to a limited number <a closed mass-tort class> <nonunion workers were excluded from the closed shop>. 2. (Of a proceeding or gathering) conducted in secrecy <a closed hearing> <a closed shareholders' meeting>.
closed account
An account that no further credits or debits may be added to but that remains open for adjustment or setoff.
closed corporation
See close corporation under CORPORATION.
closed court
Hist. The English Court of Common Pleas, open only to serjeants-at-law. 0 The monopoly of the serjeants-at-law was abolished in 1845.
closed insurance contract
See closed policy under INSURANCE POLICY.
closed mortgage
See MORTGAGE.
closed policy
An insurance policy whose terms cannot be changed. ( A fraternal benefit society is not permitted to write closed policies. - Also termed closed insurance contract.
closed session
See SESSION.
closed session.
1. A session to which parties not directly involved are not admitted. 2. Military law A period during a court-martial when the members (or the judge, if trial is before a military judge) deliberate alone. -Also termed closed court
closed shop
See SHOP.
closed testament
See mystic will under WILL.
closed transaction
See TRANSACTION.
closed transaction. Tax
A transaction in which an amount realized on a sale can be established for the purpose of stating a gain or loss.
closed union
A union with restrictive membership requirements, such as high dues andlong apprenticeship periods. Cf. closed shop under SHOP.
closed union.
See UNION,
closed will
See mystic will.
closed-end fund
See MUTUAL FUND.
closed-end mortgage
See MORTGAGE.
closed-end mortgage bond
A mortgage bond with provisions prohibiting the debtor from issuing additional bonds against the bond's collateral.
closed-shop contract
A labor agreement requiring an employer to hire and retain only union members and to discharge nonunion members.
disclosed principal
A principal whose identity is revealed by the agent to a third party. o A disclosed principal is always liable on a contract entered into by the agent with the principal's authority, but the agent is usu. not liable.
enclosed land
Land that is actually enclosed and surrounded with fences.
enclosed please find
See TRANSMITTAL LETTER.
open-shop-closed-shop operation
See DOUBLE-BREASTED OPERATION.
partially disclosed principal
See PRINCIPAL (1).
undisclosed agency
an agency relationship in which an agent deals with a third party who has no knowledge that the agent is acting on a principal's behalf. 9 the fact that the agency is undisclosed does not prohibit the third party from seeking redress from the principal or the agent.
undisclosed principal
See PRINCIPAL (1)