Dictionary Search: "Cure" - Pakistan Law Portal

Attachment. 1. The seizing of a person's property to secure a judgment or to be sold in satisfaction of a judgment. - also termed (in civil law) provisional seizure. Cf. Garnishment; sequestration (1)

Cure

vb. 1. To remove legal defects or correct legal errors. ( For example, curing title involves removing defects from title to unmarketable land so that title becomes marketable. 2. The right of a seller under the UCC to correct a nonconforming delivery of goods, usu. within the contract period. - curative, adj.

Federal Procurement Regulation

See FEDERAL ACQUISITION REGULATION.

Insecure

adj. Having a good-faith belief that the possibility of receiving payment or performance from another party to a contract is unlikely.

Secured

adj. 1. (Of debt or obligation) supported or backed by security or collateral. 2. (Of a creditor) protected by a pledge, mortgage, or other encumbrance of property that helps ensure financial soundness and confidence. See SECURITY.

counsel and procure

See AID AND ABET,

cure by verdict

See AIDER BY VERDICT.

engineering, procurement, and construction contract

A fixed-price, schedule-intensive construction contract - typically used in the construction of single-purpose projects, such as energy plants - in which the contractor agrees to a wide variety of responsibilities, including the duties to provide for the design, engineering, procurement, and construction of the facility; to prepare start-up procedures; to conduct performance tests; to create operating manuals; and to train people to operate the facility. - Abbr. EPC contract. - Also termed turnkey contract. See SINGLE-PURPOSE PROJECT.

maintenance and cure

Maritime law. Compensation provided to a sailor who becomes sick or injured while a member of a vessel's crew.

maximum cure

Maritime law. The point at which a seaman who is injured or sick has stabilized, and no additional medical treatment will improve the seaman's condition. ( A shipowner's obligation to provide maintenance and cure to a sick or injured seaman usu. continues until the seaman has reached maximum cure. See MAINTENANCE AND CURE.

procurement (proh-kyoor-mant)

n.1.The act of getting or obtaining something. - Also termed procuration. 2. The act of persuading or inviting another, esp. a woman or child, to have illicit sexual intercourse. - procure.

procurement contract

A contract in which a government receives goods or services. ( A procurement contract, including the bidding process, is subject to government regulation. See FEDERAL ACQUISITION REGULATION. - Also termed government contract.

rector sinecure

A rector who does not have the cure of souls. 2. Roman law. A governor or ruler.

secured bond

See BOND (3).

secured claim

A claim held by a creditor who has a lien or a right of setoff against the debtor's property.

secured creditor

See CREDITOR.

secured debt

See DEBT.

secured loan

A loan that is secured by property or securities. - Also termed collateral loan.

secured note

See NOTE (1).

secured party

See secured creditor under CREDITOR.

secured transaction

A business arrangement by which a buyer or borrower gives collateral to the seller or lender to guarantee payment of an obligation. ( Article 9 of the UCC deals with secured transactions. See SECURITY AGREEMENT.

sinecure

[fr. Latin sine cura "without duties"] Hist. A post without any duties attached; an office for which the holder receives a salary but has no responsibilities. - sinecural (si-na-kyoor-al or sl-na-kyoor-al), adj.

unsecured bail bond

A bond that holds a defendant liable for a breach of the bond's conditions (such as failure to appear in court), but that is not secured by a deposit of or lien on property. See RECOGNIZANCE. 3. A long-term, interest-bearing debt instrument issued by a corporation or governmental entity usu. to provide for a particular financial need; esp., such an instrument in which the debt is secured by a lien on the issuer's property. Cf. DEBENTURE. "Typically debt securities are notes, debentures, and bonds. Technically a 'debenture' is an unsecured corporate obligation while a 'bond' is secured by a lien or mortgage on corporate property. However, the word 'bond' is often used indiscriminately to cover both bonds and debentures A 'bond' is a long term debt security while a 'note' is usually a shorter term obligation. Bonds are historically bearer instruments, negotiable by delivery, issued in multiples of $1,000 with interest payments represented by coupons that are periodically clipped and submitted for payment." Robert W. Hamilton, The Law of Corporations in a Nutshell 128 (3d ed. 1991).

unsecured bond

See DEBENTURE (3).

unsecured claim

1. A claim by a creditor who does not have a lien or a right of setoff against the debtor's property. 2. A claim by a creditor who has a lien on or right of setoff against the debtor's property worth less than the amount of the debt.6. Patents. A formal statement describing the novel features of an invention and defining the scope of the patent's protection <claim no. 3 of the patent describes an electrical means for driving a metal pin>. Cf. SPECIFICATION (3).

unsecured creditor

A creditor who, upon giving credit, takes no rights against specific property of the debtor. - Also termed general creditor.

unsecured debt