Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Exercise
vb. 1. To make use of; to put into action <exercise the right to vote>. 2. To implement the terms of; to execute <exercise the option to buy the commodities>. - exercise,
Exercise Clause
See FREE EXERCISE CLAUSE,
Free Exercise Clause.
The constitutional provision (U.S. Const. amend. I) prohibiting the government from interfering in people's religious practices or forms of worship. - Also termed Exercise Clause. Cf. ESTABLISHMENT CLAUSE. free fishery. See FISHERY (1).
exercise of judgment
The use of sound discretion - that is, discretion exercised with regard to what is right and equitable rather than arbitrarily or willfully.
exercise price
See strike price under PRICE.
exercise value
The value to an optionholder of using the option.