Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Float
ub. 1. (Of a currency) to attain a value in the international exchange market solely on the basis of supply and demand <the IMF allowed the peso to float>. 2. To issue (a security) for sale on the market <PDQ Corp. floated a new series of preferred shares>. 3. To arrange or negotiate (a loan) <the bank floated a car loan to Alice despite her poor credit history>.
Floatage
See FLOTSAM.
Floating
adj. Not fixed or settled; fluctuating; variable
floater insurance
An agreement to indemnify against a loss sustained to movable property, wherever its location within the territorial limit set by the policy.
floater insurance.
See INSURANCE.
floater.
See floating-rate note under NOTE (1).
floating capital
1. Funds not allocated to a particular class of the corporation's capital stock. 2. Funds not presently invested or committed; esp., money retained for the purpose of meeting current expenditures. - Also termed circulating capital.
floating charge.
See floating lien under LIEN
floating debt
Short-term debt that is continuously renewed to finance the ongoing operations of a business or government.
floating debt.
See DEBT
floating easement
An easement that, when created, is not limited to any specific part of the servient estate.
floating easement.
See EASEMENT.
floating lien
1 A lien that is expanded to cover any additional property obtained by the debtor while the debt is outstanding. 2. A lien that continues to exist even when the collateral changes in character, classification, or location. - Also termed floating charge.
floating lien.
See LIEN,
floating policy
An insurance policy covering property that frequently changes in quantity or location, such as jewelry. - Also termed running policy; blanket policy.
floating policy.
See INSURANCE POLICY.
floating rate
A varying interest rate that is tied to a financial index such as the prime rate.
floating rate.
See INTEREST RATE,
floating stock
Stock that is offered for sale on the open market and that has not yet been purchased; the number of outstanding shares available for trading.
floating stock.
See STOCK
floating zoning.
Zoning that creates exceptional-use districts, as needed, within ordinary zoned districts.
floating-interest bond
A bond with an interest rate that moves up and down with changing economic conditions.
floating-interest bond.
See BOND (3).
floating-rate note
A note carrying a variable interest rate that is periodically adjusted within a predetermined range, usu. every six months, in relation to an index, such as Treasury bill rates. - Also termed floater.
floating-rate note.
See NOTE (1
i inverse-floating-rate note
See NOTE (1).
inverse floater
See inverse-floating-rate note under NOTE.
inverse-floating-rate note
A note structured in such a way that its interest rate moves in the opposite direction from the underlying index (such as the London Interbank Offer Rate). ( Many such notes are risky investments because if interest rates rise, the securities lose their value and their coupon earnings fall. - Also termed inverse floater.