Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

Negotiation

n. 1. A consensual bargaining process in which the parties attempt to reach agreement on a disputed or potentially disputed matter. ( Negotiation usu. involves complete autonomy for the parties involved, without the intervention of third parties.

Nemo prohibetur plures negotiationes sive artes exercere

No one is prohibited from exercising several kinds of business or arts.

Renegotiation

n. 1. The act or process of negotiating again or on different terms; a second or further negotiation. 2. The reexamination and adjustment of a government contract to eliminate or recover excess profits by the contractor. - renegotiate, ub. renewable term insurance See INSURANCE.

due negotiation

The transfer of a negotiable document of title so that the transferee takes it free of certain claims enforceable against the transferor. ( This is the goodfaith-purchase exception to the doctrine of derivative title. UCC §§ 7-501(4); 7-502(1).

negotiation letter of credit

See LETTER OF CREDIT.