Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Freeze
ub. 1. To cause to become fixed and unable to increase <to freeze interest rates> <to freeze prices>. 2. To make immobile by government mandate or banking action <to freeze assets>. 3. To cease physical movement, esp. when ordered by a law enforcement officer <the police officer shouted at the suspect to freeze>.
Freezee
n. A person or entity subjected to a freeze-out.
administrative freeze.
Bankruptcy. The refusal by a debtor's bank to permit withdrawals from the debtor's bank account after the bank learns that the debtor has filed bankruptcy, usu. because the debtor owes money to the bank in addition to maintaining funds on deposit.
credit freeze
A period when the government restricts bank-lending.
estate freeze
An estate-planning maneuver whereby an owner of a closely held business exchanges common stock for dividend-paying preferred stock and gives the common stock to his or her children, thus guaranteeing a pension and avoiding estate tax.
freeze out
ub. 1. To subject one to a freeze-out. 2. To exclude a business competitor <freezing out the competition>.
freeze-out
n. Corporations. The process, usu. in a closely held corporation, by which the majority shareholders or the board of directors oppresses minority shareholders in an effort to compel them to liquidate their investment on terms favorable to the controlling shareholders.
freeze-out merger
See cash merger under MERGER.
freeze-out merger.
See cash merger.
wage-and-price freeze
A period when the government forbids the increase of wages and prices. 2. A re capitalization of a closed corporation so that the value of its existing capital is concentrated primarily in preferred stock rather than in common stock. ( By freezing capital, the owner can transfer the common stock to heirs without taxation while continuing to enjoy preferred-stock income during the owner's lifetime, while the common stock grows.