Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Benignior sententia in verbis generalibus seu dubiis est preferenda
The more favorable construction is to be preferred in general or doubtful expressions.
Le ley de Dieu et ley de terre sont tout un, et Pun et Z'autre preferre et favour le common et publique bien del terre
The law of God and the law of the land are all one; and both promote and favor the common and public good of the land.
Prefer
ub. 1. To put forward or present for consideration; esp. (of a grand jury), to bring (a charge or indictment) against a criminal suspect <the defendant claimed he was innocent of the charges preferred against him >. 2. To give priority to, such as to one creditor over another <the statute prefers creditors who are first to file their claims>.
Preference
1. The act of favoring one person or thing over another; the person or thing so favored. 2. Priority of payment given to one or more creditors by a debtor; a creditor's right to receive such priority. 3. Bankruptcy. PREFERENTIAL TRANSFER.
Preferred
adj. Possessing or accorded a priority or privilege <a preferred claim>. preferred creditor See CREDITOR.
Preferred dividend
A dividend paid to preferred shareholders, who are generally paid a fixed amount and take priority over common shareholders. property dividend. See asset dividend.
callable preferred stock
Preferred stock that may be repurchased by the issuing corporation at a prestated price, usu. at or slightly above par value.
callable preferred stock.
See STOCK.
cathedral preferment
Eccles. law. In a cathedral church, a deanery, archdeaconry, canonry, or other office below the rank of bishop.
cumulative preference share
See cumulative preferred stock under STOCK. cumulative preferred stock See STOCK.
cumulative preferred stock
Preferred stock that must pay dividends in full before common shareholders may receive any dividend. ( If the corporation omits a dividend in a particular year or period, it is carried over to the next year or period and must be paid before the common shareholders receive any payment. - Also termed cumulative stock; cumulative preference share.
dividend preference
The right of a holder of preferred shares to receive a dividend before the company pays dividends to holders of common shares. See preferred stock under STOCK.
insider preference
A transfer of property by a bankruptcy debtor to an insider more than 90 days before but within one year after the filing of the bankruptcy petition.
liquidation preference
A preferred shareholder's right, once the corporation is liquidated, to receive a -specified distribution before common shareholders receive anything. voidable preference See PREFERENTIAL TRANSFER.
noncumulative preferred stock
Preferred stock that does not have to pay dividends that are in arrears. ( Once a periodic dividend is omitted, it will not be paid. - Also termed noncumulative stock.
nonparticipating preferred stock
Preferred stock that does not give the shareholder the right to additional earnings - usu. surplus common-stock dividends - beyond those stated in the preferred contract.
parental-preference doctrine
The principle that a fit parent, who is willing and able to care for a minor child, should be granted custody instead of someone who is not the child's parent. - Also termed parental-presumption rule.
participating preferred stock
See STOCK.
preference shares
See preferred stock under STOCK.
preferential assignment
See PREFERENTIAL TRANSFER.
preferential debt
See DEBT.
preferential rule
Evidence. A rule that prefers one kind of evidence to another. 0 It may work provisionally, as when a tribunal refuses to consider one kind of evidence until another kind (presumably better) is shown to be unavailable, or it may work absolutely, as when the tribunal refuses to consider anything but the better kind of evidence. "There are only three or four sets of [preferential] rules. There is a rule preferring the production of the original of a document, in preference to a copy. There is a rule requiring the attesting witness to a will to be summoned to evidence its execution. And there is a rule preferring the magistrate's official report of testimony taken before him. Then there are a few miscellaneous rules, such as the officially certified enrollment of a statute, etc." John H. Wigmore, A Students' Textbook of the Law of Evidence 219 (1935).
preferential shop
A shop in which union members are given preference over nonunion members in employment matters.
preferential tariff
A tariff that favors the products of one country over those of another. Cf. MOST-FAVORED-NATION CLAUSE.
preferential transfer
Bankruptcy. A prebankruptcy transfer made by an insolvent debtor to or for the benefit of a creditor, thereby allowing the creditor to receive more than its proportionate share of the debtor's assets; specif., an insolvent debtor's transfer of a property interest for the benefit of a creditor who is owed on an earlier debt, when the transfer occurs no more than 90 days before the date when the bankruptcy petition is filed or (if the creditor is an insider) within one year of the filing, so that the creditor receives more than it would otherwise receive through the distribution of the bankruptcy estate. * Under the circumstances described in 11 USCA § 547, the bankruptcy trustee may recover - for the estate's benefit - a preferential transfer from the transferee. - Also termed preference; voidable preference; voidable transfer; preferential assignment. Cf. FRAUDULENT CONVEYANCE (2).
preferred creditor
A creditor with a superior right to payment, such as a holder of a perfected security interest as compared to a holder of an unsecured claim. UCC § 9-301(1).
preferred dividend
See DIVIDEND.
preferred docket
A list of cases set for trial, arranged in order of priority. 0 Criminal cases are, for example, generally given precedence over civil cases on the preferred docket because of the constitutional right to a speedy trial. 3. DOCKET CALL <the agreed judgment was signed at the court's uncontested docket call on May 24>. 4. A written abstract that provides specific information (usu. about something attached); esp., a label <check the docket to determine the goods' destination and value >.
preferred stock
A class of stock giving its holder a preferential claim to dividends and to corporate assets upon liquidation but that usu. carries no voting rights. - Also termed preference shares. Cf. common stock.
preferred-provider organization
A group of healthcare providers (such as doctors, hospitals, and pharmacies) that agree to provide medical services at a discounted cost to covered persons in a given geographic area. - Abbr. PPO. Cf. HEALTH-MAINTENANCE ORGANIZATION.
preferring of charges
Military law. The formal completion of a charge sheet, which includes signing and swearing to the charges and specifications. ( Only a person subject to the Uniform Code of Military Justice can prefer charges. C£ INITIATION OF CHARGES.
prior preferred stock
See STOCK.
surrender of a preference
Bankruptcy. The yielding of a voidable conveyance, transfer, assignment, or encumbrance by a creditor to the trustee as a condition of allowing the creditor's claim.
tax-preference items
Certain items that, even though deducted in arriving at taxable income for regular tax purposes, must be considered in calculating a taxpayer's alternative minimum tax. See alternative minimum tax under TAX.
trial-setting preference
See special setting under SETTING.
voidable preference
See PREFERENTIAL TRANSFER