Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
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.
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.
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.
participating preferred stock
See STOCK.
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 ยง 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.
prior preferred stock
See STOCK.