Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Competition
The effort or action of two or more commercial interests to obtain the same business from third parties.
Petition
n. 1. A formal written request presented to a court or other official body. involuntary petition A petition filed in a bankruptcy court by a creditor seeking to declare a debtor bankrupt. ( This type of petition may be filed only under Chapter 7 or Chapter 11 of the Bankruptcy Code.
Petitioner
A party who presents a petition to a court or other official body, esp. when seeking relief on appeal. Cf. RESPONDENT (2).
Prepetition
adj. Occurring before the filing of a petition (esp. in bankruptcy) <prepetition debts>.
Repetition
Civil law. A demand or action for restitution or repayment. See SOLUTIO INDEBITI.
absque impetitione vasti
[Law Latin] Hist. See WITHOUT IMPEACHMENT OF WASTE.
act of petition.
Hist. A summary proceeding in which litigants provide brief statements supported by affidavit. 0 This procedure was used in the English High Court of Admiralty.
designating petition
A document used to designate a candidate for a party nomination at a primary election or for election to a party position.
election petition
English law. A petition for inquiry into the validity of a Parliament member's election, when the member's return is allegedly invalid for bribery or other reason.
fair competition
Open, equitable, and just competition between business competitors.
freedom of petition
See RIGHT TO PETITION.
horizontal competition
Competition between a seller and its competitors. a The Sherman Act prohibits unreasonable restraints on horizontal competition, such as price-fixing agreements between competitors. - Also termed primary-line competition.
involuntary petition
See PETITION,
juvenile petition
A petition filed in a juvenile court, alleging delinquent conduct by the accused. ( The accusations made in a juvenile petition are tried in an adjudicatory hearing. See adjudicatory hearing under HEARING.
meeting-competition defense
Antitrust. A defense to a charge of price discrimination whereby the defendant shows that the lower price was a good-faith attempt to match what it believed to be a competitor's equally low offer.
noncompetition covenant
A contractual provision - typically found in employment, partnership, or sale-of-business agreements - in which one party agrees to refrain from conducting business similar to that of the other party. ( Courts generally enforce these clauses for the duration of the original business relationship, but clauses extending beyond termination must usu. be reasonable in scope, time, and territory. - Also termed noncompete covenant; covenant not to compete; restrictive covenant; promise not to compete; contract not to compete.
perfect competition
A completely efficient market situation characterized by numerous buyers and sellers, a homogeneous product, perfect information for all parties, and complete freedom to move in and out of the market. ( Perfect competition rarely if ever exists, but antitrust scholars often use the theory as a standard for measuring market performance.
petition de droit
See PETITION OF RIGHT.
petition in bankruptcy
A formal written request, presented to a bankruptcy court, seeking protection for an insolvent debtor. ( The debtor (in a voluntary bankruptcy) or the debtor's creditors (in an involuntary bankruptcy) can file such a petition to initiate a bankruptcy proceeding.
petition of right
1 (cap.) One of the four great charters of English liberty (3 Car. (1628)), establishing that "no man be compelled to make or yield any gift, loan, benevolence, tax, or such like charge, without common consent by act of parliament." ( The other three great charters are Magna Carta, the Habeas Corpus Act (31 Car. 2 (1679)), and the Bill of Rights (1 W. & M. (1689)). 2. Hist. A proceeding in chancery by which a subject claims that a debt is owed by the Crown or that the Crown has broken a contract or wrongfully detained the subject's property. ( Although the petition is addressed directly to the Crown, the courts adjudicate the claim just as in an action between private parties. - Also termed petition de droit.
primary-line competition
See horizontal competition under COMPETITION.
right of petition
See RIGHT TO PETITION.
right to petition
The constitutional right -guaranteed by the First Amendment - of the people to make formal requests to the government, as by lobbying or writing letters to public officials. - Also termed right of petition; freedom of petition.
secondary-line competition
See vertical competition under COMPETITION.
sham petitioning
See SHAM EXCEPTION,
unfair competition
1. Dishonest or fraudulent rivalry in trade and commerce; esp., the practice of endeavoring to substitute one's own goods or products in the market for those of another by means of imitating or counterfeiting the name, brand, size, shape, or other distinctive characteristic of the article or its packaging. 2. The body of law protecting the first user of such a name, brand, size, shape, or other distinctive characteristic against an imitating or counterfeiting competitor.
vertical competition
Competition between participants at different levels of distribution, such as manufacturer and distributor. - Also termed secondary-line competition. competitive advertising See ADVERTISING
voluntary petition
A petition filed with a bankruptcy court by a debtor seeking protection from creditors. 2. In some states, a lawsuit's first pleading; COMPLAINT. - petition, ub.