Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Concurrency
n. 1. Archaic. The quality or fact of being concurrent in jurisdiction; joint right or authority. 2. Criminal Procedure. (Of a criminal sentence) concurrent in duration.
Currency
An item (such as a coin, government note, or banknote) that circulates as a medium of exchange. See LEGAL TENDER.
European Currency Unit
A monetary unit whose value is calculated as a weighted average of currencies from ten member-nations of the European Union. ( The European Currency Unit was created in 1979 to promote currency stability. The unit was a hypothetical currencv. - Abbr. ECL1; ecu.
United States currency
See CURRENCY.
blocked currency
Currency or bank deposits that, by government restriction, may be used only within the country where they are located.
blocked currency.
See CURRENCY.
currency swap
An agreement to swap specified payment obligations denominated in one currency for specified payment obligations denominated in a different currency.
fractional currency
Paper money worth less than one dollar; esp., the currency issued by the federal government from 1863 to 1876.
hard currency
Currency backed by reserves, esp. gold and silver reserves.
hard currency.
See CURRENCY.
national currency
Money (both notes and coins) approved by a national government and placed in circulation as a medium of exchange. See LEGAL TENDER.
paper currency
, checks, and drafts. 2. Current cash, as opposed to money on account. money bequest See pecuniary bequest under BEQUEST.
postal currency
A fractional currency bearing a facsimile of postage stamps during the Civil War.
soft currency
Currency not backed by reserves and therefore subject to sharp fluctuations in value.