Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Fair
n. Hist. A privileged market for the buying and selling of goods. 0 A fair was an incorporeal hereditament granted to a town by royal patent or franchise or established by prescription. The franchise to hold a fair conferred important privileges, and a fair, as a legally recognized institution, possessed distinctive legal characteristics, most of which are now obsolete. Cf. market overt under MARKET.
Fair Credit Billing Act
A federal law that facilitates the correction of billing errors by credit-card companies and makes those companies more responsible for the quality of goods purchased by cardholders. 15 USCA §§ 1666-1666j.
Fair Labor Standards Act
A federal law, enacted in 1938, that regulates minimum wages, overtime pay, and the employment of minors. 29 USCA §§ 201-219. - Abbr. FLSA.
Veterans Affairs, Department of.
An independent federal agency that administers benefit programs for veterans and their families. -Abbr VA---Also termed veterans Administration
Videtur qui surdus et mutus ne poet faire alienation
A deaf and mute person is considered not to be able to alienate.
acting charge d'affaires
A charge d' affaires who performs mission functions when the leader of the mission is not available to do so or when the position is vacant. - Also termed charges d'affaires ad interim.
acting charge d'affaires.
See CHARGE D'AFFAIRES.
charge d'affaires
[French "one in charge of affairs"] A diplomat who is the second in command in a diplomatic mission (hence, subordinate to an ambassador or minister). - Also spelled charge des affaires. Pl. charges d'affaires.
duty of fair representation
A labor union's duty to represent its member employees fairly, honestly, and in good faith.
duty of fair representation.
See DUTY (2)
duty of good faith and fair dealing
A duty that is implied in some contractual relationships, requiring the parties to deal with each other fairly, so that neither prohibits the other from realizing the agreement's benefits. This duty is most commonly implied in insurance contracts, and usu. against the insurer, regarding matters such as the insurer's obligation to settle reasonable demands that are within the policy's coverage limits. See GOOD FAITH; BAD FAITH.
fair and impartial jury
See impartial jury.
fair and impartial trial
See FAIR TRIAL
fair and proper legal assessment
See EQUALIZATION.
fair and reasonable value
See fair market value under VALUE.
fair and valuable consideration
See fair consideration under CONSIDERATION.
fair averaging
The process of assessing taxes by using the average of the amount and price of goods acquired over a 12-month period rather than the amount and price at a particular time of the year.
fair cash market value
See fair market value under VALUE.
fair cash value
See fair market value under VALUE.
fair comment
A statement based on the writer's or speaker's honest opinion about a matter of public concern. ( Fair comment is a defense to libel or slander.
fair competition
Open, equitable, and just competition between business competitors.
fair consideration
See CONSIDERATION.
fair dealing
n. 1. The conduct of business with full disclosure, usu. by a corporate officer with the corporation. 2. A fiduciary's transacting of business so that, although the fiduciary might derive a personal benefit, all interested persons are fully apprised'of that potential and of all other material information about the transaction. Cf. SELF-DEALING.
fair hearing
A judicial , or administrative hearing conducted in accordance with due process.
fair market price
See fair market value under VALUE.
fair market value
The price that a seller is willing to accept and a buyer is willing to pay on the open market and in an arm's-length transaction; the point at which supply and demand intersect. - Abbr. FMV. - Also termed actual value; actual cash value; actual market value; cash value; clear market value; fair and reasonable value; fair cash market value; fair cash value; fair market price; fair value; full value; just value; market value; salable value; true value. "[A] forced sale price is not fair value though it may be used as evidence on the question of fair value. Likewise, the fair value of saleable assets is not what they would sell for in the slow process of the debtor's trade as if the debtor were continuing business unhampered. The general idea of fair value is the amount of money the debtor could raise from its property in a short period of time, but not so short as to approximate a forced sale, if the debtor operated as a reasonably prudent and diligent businessman with his interests in mind, especially a proper concern for the payment of his debts." David G. Epstein et al., Bankruptcy § fr18, at 307 (1993).
fair notice
1. Sufficient notice apprising a litigant of the opposing party's claim. 2. The requirement that a pleading adequately apprise the opposing party of a claim. 0 A pleading must be drafted so that an opposing attorney of reasonable competence would be able to ascertain the nature and basic issues of the controversy and the evidence probably relevant to those issues. 3. FAIR WARNING.
fair on its face
having the appearance of being regular or legal and not capable of being shown to be defective without extraneous evidence.
fair play
Equity, candor, and fidelity in dealings with another.
fair play and substantial justice
The fairness requirement that a court must meet in its assertion of personal jurisdiction over a nonresident defendant to comport with due process. International Shoe Co. u. Washington, 326 U.S. 310, 66 S.Ct. 154 (1945). See MINIMUM CONTACTS.
fair preponderance of the evidence
See PREPONDERANCE OF THE EVIDENCE. fair rate of returnSee RATE OF RETURN.
fair rate of return
The amount of profit that a public utility is permitted to earn, as determined by a public utility commission.
fair representation
Labor law. Union representation that adequately covers all union members in collective bargaining and in the lodging of grievances.
fair return on investment
The usual or reasonable profit in a business, esp. a public utility.
fair sale
See SALE
fair trade
n. Commerce conducted under a fairtrade agreement.
fair trial
See FAIR TRIAL.
fair useCopyright
A reasonable and limited use of a copyrighted work without the author's permission, such as quoting from a book in a book review or using parts of it in a parody. ( Fair use is a defense to an. infringement claim, depending on the following statutory factors: (1) the purpose and character of the use, (2) the nature of the copyrighted work, (3) the amount of the work used, and (4) the economic impact of the use. 17 USCA § 107 "[Fair use is] the most troublesome [problem] in the whole law of copyright." Dellar u. Samuel Goldwyn, Inc., 104 F.2d 661, 662 (2d Cir. 1939) (per curiam). "Fair use is a judicial safety valve, empowering courts to excuse certain quotations or copies of copyrighted material even though the literal terms of the Copyright Act prohibit them." Paul Goldstein, Copyright's Highway 84 (1994).
fair value
See fair market value.
fair warning
Criminal law. The requirement that a criminal statute define an offense with enough precision so that a reasonable person can know what conduct is prohibited and so that a reasonably skilled lawyer can predict what conduct falls within the statute's scope. - Also termed fair notice.
fair wear and tear
See WEAR AND TEAR.
fair-and-equitable requirement
Bankruptcy. A Bankruptcy Code standard requiring a forced, nonconsensual Chapter 11 plan (a "cramdown" plan) to provide adequately for each class of interests that has not accepted the plan. ( In determining whether a cramdown plan is fair and equitable and thus can be confirmed, a bankruptcy court must apply the Code's detailed statutory criteria, consider the plan as a whole, and weigh all the circumstances surrounding the treatment of each impaired class of interests. In addition to the fairand-equitable requirement, the Chapter 11 cramdown plan must (1) be accepted by at least one impaired class of claims, and (2) not discriminate unfairly among impaired classes that have not accepted the plan. 11 USCA § 1129(b). See CRAMDOWN.
fair-credit-reporting act
A federal or state law that regulates the keeping of credit reports and ensures the right of consumers to get and correct their credit reports. ( The federal Fair Credit Reporting Act was enacted in 1970. 15 USCA §§ 1681-1681u.
fair-cross-section requirement
Constitutional law. The principle that a person's right to an impartial jury, guaranteed by the Sixth Amendment, includes a requirement that the pool of potential jurors fairly represent the composition of the jurisdiction's population. ( The pool of potential jurors need not precisely match the composition of the jurisdiction. But the representation of each group must be fair, and there may not legally be a systematic exclusion or underrepresentation of any group. A minimal disparity in a particular group's representation, such as an absolute disparity of 10%, will not ordinarily violate this principle unless some aggravating factor exists. See DUREN TEST; ABSOLUTE DISPARITY; COMPARATIVE DISPARITY; STATISTICAL-DECISION THEORY.
fair-report privilege
A defense to liability for publishing defamatory matter from a report of an official or judicial proceeding, when the report is a full, fair, and accurate account of the proceeding.
fair-trade agreement
A commercial agreement that a seller will sell all of a producer's goods at or above a specified minimum price. Fair-trade agreements were valid until 1975, when the Consumer Goods Pricing Act .made them illegal. 15 USCA §§ 1, 45.
fair-value accounting method
See ACCOUNT. ING METHOD.
fair-value accounting method.
The valuation of assets at present actual or market value.
fair-value law
A statute allowing a credit against a deficiency for the amount that the fair market value of land exceeds the price atforeclosure Also termed fair-value legislation.
fairly-debatable rule
1. Insurance. In some states, a test that requires an insurer to have a plausible basis for denying a claim to avoid badfaith liability. 2. Zoning. A doctrine that bars a court from interfering with a zoning decision that is supported by substantial evidence, although it is one on which reasonable minds can differ. o A court will not interfere with a decision supported by substantial evidence.