Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Derivative
n. A volatile financial instrument whose value depends on or is derived from the performance of a secondary source such as an underlying bond, currency, or commodity. -Also termed derivative instrument."Derivatives transactions may be based on the value of foreign currency, U.S. Treasury bonds, stock indexes, or interest rates. The values of these underlying financial instruments are determined by market forces, such as movements in interest rates. Within the broad panoply of derivatives transactions are numerous innovative financial instruments whose objectives may include a hedge against market risks, management of assets and liabilities, or lowering of funding costs; derivatives may also be used as speculation for profit." Procter & Gamble Co. u. Bankers Trust Co., [1996-1997 Transfer Binder] Fed. Sec Rep. (CCH) 1199,229, at 95,238 (S.D. Ohi( 1996).
derivative acquisition
See ACQUISITION
derivative acquisition.
An acquisition obtained from another, as by sale or gift.
derivative action
1. A suit by a beneficiary of a fiduciary to enforce a right belonging to the fiduciary; esp., a suit asserted by a shareholder on the corporation's behalf against a third party (usu. a corporate officer) because of the corporation's failure to take some action against the third party. - Also termed derivative suit; shareholder derivative suit; stockholder derivative suit; representative action. Cf. DIRECT ACTION (3). 2. A lawsuit arising from an injury to another person, such as a husband's action for loss of consortium arising from an injury to his wife caused by a third person.
derivative action.
See DERIVATIVE ACTION. dinate or temporary capacity <an adjunct professor. adjunct, n.
derivative contraband
Property whose possession becomes unlawful when it is used in committing an illegal act. Cf. contraband per se.
derivative conveyance
See secondary conveyance.
derivative defense
A defense that rebuts the criminal elements that a prosecutor must establish to justify the submission of a criminal case to a jury.
derivative defense.
See DEFENSE (2)
derivative entrapment
Entrapment in which the government uses a private person, acting either as an agent of the government or as an unwitting participant, to induce the subject of the entrapment to commit a crime.
derivative estate
A particular interest that has been carved out of another, larger estate. Cf. original estate.
derivative estate.
See ESTATE.
derivative evidence
Evidence that is discovered as a result of illegally obtained evidence and is therefore inadmissible because of the primary taint. See EXCLUSIONARY RULE; FRUIT-OF-THE-POISONOUS-TREE DOCTRINE.
derivative instrument
See DERIVATIVE,
derivative jurisdiction doctrine
The principle that a case is not properly removable unless it is within the subject-matter jurisdiction of the state court from which it is removed.
derivative liability
Liability for a wrong that a person other than the one wronged has a right to redress. ( Examples include liability to a widow in a wrongful-death action and liability to a corporation in a shareholder's derivative suit.
derivative liability.
See LIABILITY
derivative possession
Lawful possession by one (such as a tenant) who does not hold title.
derivative possession.
See POSSESSION
derivative suit
See DERIVATIVE ACTION (1).
derivative suit.
See DERIVATIVE ACTION
derivative title
1. A title that results when an already existing right is transferred to a new owner. 2. The general principle that a transferee of property acquires only the rights held by the transferor and no more.
derivative work. Copyright
A copyrightable creation that is based on a preexisting product, such as a translation, musical arrangement, fictionalization, motion-picture version, abridgment, or any other recast or adapted form, and that only the holder of the copyright on the original form can produce or give permission to another to produce. Cf. COMPILATION (1)."[W]hile a compilation consists merely of the selection and arrangement of pre-existing material without any internal changes in such material, a derivative work involves recasting or transformation, i.e., changes in the pre-existing material, whether or "[W]hile a compilation consists merely of the selection and arrangement of pre-existing material without any internal changes in such material, a derivative work involves recasting or transformation, i.e., changes in the pre-existing material, whether or
derivative-use immunity.
See use immunity under IMMUNITY (3).
shareholder derivative suit
See DERIVATIVE ACTION (1).
stockholder derivative suit
See DERIVATIVE ACTION (1).
use/derivative-use immunity
See use immunity under IMMUNITY (3).