Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Arbitration of exchange
the simultaneous buying and selling of bills of exchange in different international markets, with the hope of profiting from the price difference of the currencies in those markets. See arbitrage; draft (i).
Chicago Board Options Exchange
The predominant organized marketplace in the United States for trading options. - Abbr. CBOE.
Electronic Data Interchange agreement
See EDI AGREEMENT.
En eschange it covient que les estates soient egales
In an exchange it is desirable that the estates be equal.
Exchange
n. 1. The act of transferring interests, each in consideration for the other. 2. The payment of a debt using a bill of exchange or credit rather than money. 3. An organization that brings together buyers and sellers of securities, commodities, and the like to promote uniformity in the customs and usages of merchants, to facilitate the speedy adjustment of business disputes, to gather and disseminate valuable commercial and economic information, and to secure to its members the benefits of cooperation in the furtherance of their legitimate pursuits. ( The best-known exchanges are stock, produce, livestock, cotton, and grain exchanges. 4. The building or hall where members of an exchange meet every business day to buy and sell for themselves, or as brokers for their customers, for present and future delivery. See SECURITIES EXCHANGE. - exchange, ub.
Exchange Act
See SECURITIES EXCHANGE ACT OF 1934.
Hang
vb. (Of a jury) to be unable to reach a verdict <the jury was hung after 12 hours of continuous deliberation>. See hung jury under JURY.
Hanging
n. The act of carrying out an execution by suspending the person above the ground by a rope around the person's neck. ( Death is caused by asphyxiation (by being hoisted from the ground) or by a sudden breaking of the cervical vertebrae (by being dropped from a height).
La conscience est la plus changeante des regles
Conscience is the most changing of rules.
New York Stock Exchange
An unincorporated association of member firms that handle the purchase and sale of securities both for themselves and for customers. 0 This exchange, the dominant one in the United States, trades in only large companies having at least one million outstanding shares. - Abbr. NYSE.
Reexchange
n. 1. A second or new exchange. 2. The process of recovering the expenses that resulted from the dishonor of a bill of exchange in a foreign country. 3. The expenses themselves.
Securities Exchange Act of 1934
The federal law regulating the public trading of securities. This law provides for the registration and supervision of securities exchanges and brokers, and regulates proxy solicitations. The Act also established the SEC. 15 USCA §§ 78a et seq. - Also termed Exchange Act; 1934 Act. This law provides for the registration and supervision of securities exchanges and brokers, and regulates proxy solicitations. The Act also established the SEC. 15 USCA §§ 78a et seq. - Also termed Exchange Act; 1934 Act.
Securities and Exchange Commission
The federal agency that regulates the issuance and trading of securities in an effort to protect investors against fraudulent or unfair practices. ( The Commission was established by the Securities Exchange Act of 1934. - Abbr. SEC.
actual change of possession.
A real, rather than constructive, transfer of ownership. 0 A creditor of the transferor cannot reach property that has actually changed possession. actual controversy. See CONTROVERSY (2), (8).
american stock exchange
an organized stock exchange and self-regulating organization under the securities exchange act of 1934, located in new york city and engaged in national trading of corporate stocks. ( it often trades in the securities of young or small companies because its listing requirements are less strict than those of the new york stock exchange. - abbr. amex; ase.
bill of exchange.
See DRAFT (1).
cardinal-change doctrine
Contracts. The principle that if the government makes a fundamental, unilateral change to a contract beyond the scope of what was originally contemplated, the other party (usu. a contractor) will be released from the obligation to continue work under the contract. 0 A contractor's allegation of cardinal change is essentially an assertion that the government has breached the contract.
change of circumstances
Family law. A modification in the physical, emotional, or financial condition of one or both parents, used to show the need to modify a custody or support order. - Also termed changed circumstances.
change of condition
1. Workers' compensation. A substantial worsening of an employee's physical health occurring after an award, as a result of which the employee merits an increase in benefits. 2. Family law. A change of circumstances justifying a modification to a custody, child support, or alimony order. Cf. change of circumstances under CIRCUMSTANCE.
change of venue
1. The transfer of a lawsuit from one locale to another. 2. The transfer of a lawsuit begun in one court to another court in the same district, usu. because of questions of fairness. - Also termed transfer of venue. See VENUE.
change order
A directive issued by the federal government to a contractor to alter the specifications of an item the contractor is producing for the government
changed circumstances
See change of circumstances under CIRCUMSTANCE.
changing fund
See FUND (1:
dry exchange
Something that pretends to pass on both sides of a transaction, but passes on only on side Dry exchange seems to be a subtil term invents disguise usury, in which something is pretended to on both sides, whereas in truth nothing passes o: one side." Termes de la Ley 185 (1st Am. ed. 1812) DRY EXCHANGE . . . . A euphemism applied to coverture' or colouring' of the stringent statutes p~ during the tudor period against usury . . . . Usury, "was condemned by religion and law alike during middle ages, was from the middle of the 16th centui. longer to be confounded with the legitimate employs of capita
exchange broker
One who negotiates money or merchandise transactions for others.
exchange rate
The ratio for converting one country's money into another country's money. See FOREIGN EXCHANGE.
exchange ratio
The number of shares that an acquiring company must give for each share of an acquired company.
first of exchange.
Archaic. The first in a series of drafts (bills of exchange) drawn in duplicate or triplicate for safety in their delivery, the intention being that the acceptance and payment of any one of them, usu. the first to arrive, cancels the others in the set. first offender. See OFFENDER.
foreign bill of exchange
See foreign draft under DRAFT.
foreign exchange
1. The process of making international monetary transactions; esp., the conversion of one currency to that of a different country. 2. Foreign currency or negotiable instruments payable in foreign currency, such as traveler's checks.
foreign-exchange rate
The rate at which the currency of one country is exchanged for the currency of another country.
hanged, drawn, and quartered
Hist. An ancient sentence for high treason, consisting of the prisoner's being drawn on a hurdle to the place of execution, hanged by the neck (but not until dead), disemboweled, and beheaded, and the body then divided into four pieces for the king's disposal. ( The sentence was abolished in England in 1870. See TREASON.
hanging in chains.
Hist. In England, in atrocious cases, the practice of suspending an executed murderer's body by chains near where the crime was committed. ( Hanging in chains was abolished in 1834.
hanging judge
A judge who is harsh with defendants, esp. those accused of capital crimes, and sometimes corruptly so
hanging judge.
See JUDGE.
hangman.
An executioner, esp. one who executes condemned criminals by hanging.
inland bill of exchange
See domestic bill (2) under BILL (6).
interchangeable bond
A bond that can be exchanged for a different type of bond, such as a coupon bond that may be exchanged for a registered bond.
interinsurance exchange
See RECIPROCAL EX. CHANGE.
international bill of exchange.
See foreign draft under DRAFT.
letter of exchange
See DRAFT (1;
like-kind exchange
An exchange of trade, business, or investment property (except inventory or securities) for property of the same kind, class, or character. ( Such an exchange is not taxable unless cash or other property is received. IRC (26 USCA) § 1031.
listed security exchange
An organized secondary security market operating at a designated location, such as the New York Stock Exchange.
loan for exchange
A contract by which a lender delivers personal property to a borrower who agrees to return similar property, usu. without compensation for its use.
local-exchange carrier
Telecommunications law. An entity that provides telephone service, usu. on a local basis, through a local-exchange network. 47 USCA § 153(26). - Abbr. LEC. See LOCAL-EXCHANGE NETWORK.
local-exchange network
Telecommunications law. A system for providing telephone service on a local basis. ( A local-exchange network usu. consists of such elements as switches, local loops, and transport trunks, and capabilities such as billing databases and operator services. Switches are pieces of equipment that direct calls to the appropriate destination. Local loops are the wires that connect telephones to the switches. Transport trunks are the wires that carry calls from switch to switch. All the elements of a local-exchange network are often referred to as a bundle, and there are federal requirements that a local-exchange carrier who controls a local-exchange network permit competition by selling some access, including unbundled access, to its local-exchange network. 47 USCA § 251(c). See LOCAL-EXCHANGE CARRIER; UNBUNDLING RULES.
material change in circumstances
Family law. An involuntary occurrence that, if it had been known at the time of the divorce decree, would have resulted in the court's issuing a different decree, as when an involuntary job loss creates a need to modify the decree to provide for reduced child-support payments.
medium of exchange
Any commodity generally accepted as payment in a transaction and recognized as a standard of value <money is a medium of exchange>. See LEGAL TENDER.
money changer
One whose primary business is exchanging currencies.
par of exchange
The equality of a given sum of one country's currency and the like sum of money of a foreign country into which it is to be exchanged.