Legal Dictionary of Pakistan

Attachment. 1. The seizing of a person's property to secure a judgment or to be sold in satisfaction of a judgment. - also termed (in civil law) provisional seizure. Cf. Garnishment; sequestration (1)

Bad-boy provision

securities. A statutory or regulatory clause in a blue-sky law stating that certain persons, because of their past conduct, are not entitled to any type of exemption from registering their securities. ( such clauses typically prohibit issuers, officers, directors, control persons, or broker-dealers from being involved in a limited offering if they have been the subject of an adverse proceeding concerning securities, commodities, or postal fraud.

Provision

1 A clause in a statute, contract, or other legal instrument. 2. A stipulation made beforehand. See PROVISO.

Provisional

adj 1.Temporary <a provisional injunction>. 2. Conditional <a provisional government.

Provisional attachment

a prejudgment attachment in which the debtor's property is seized so that if the creditor ultimately prevails, the creditor will be assured of recovering on the judgment through the sale of the seized property. ( ordinarily, a hearing must be held before the attachment takes place, and most courts require the creditor to post a bond for any damages that result from the seizure (esp. If the creditor ultimately loses in the lawsuit). The arrest of a person who either is in contempt of court or is to be held as security for the payment of a judgment. 3. A writ ordering legal seizure of property (esp. To satisfy a creditor's claim) or of a person. - also termed writ of attachment .ancillary attachment. An attachment that results in seizure and holding of property pending a resolution of the plaintiff's claim. 4. The creation of a security interest in property, occurring when the debtor agrees to the security, receives value from the secured party, and obtains rights in the collateral. Ucc § 9-203. Cf. Perfection. 5. The act of affixing or connecting; something (as a document) that is affixed or connected to something else.

Provisions of Oxford

Hist. During the reign of Henry III, a constitution created by the Mad Parliament and forming the King's advisory council that met with a group of barons several times a year to handle the country's affairs and resolve grievances, esp. those resulting from the King's avoidance of his obligations under Magna Carta. ( The Provisions were effective until the baron uprising in 1263 under Simon de Montfort.

a provisione viri

[latinl by the provision of a man (i.e., a husband).

antidilution provision

a convertible-security provision that safeguards the conversion privilege from share splits, share dividends, or other transactions that might affect the conversion ratio. see conversion ratio; dilution (2).

directory provision

A statutory or contractual sentence or paragraph in which a directory requirement appears.

no-shop provision

A stipulation prohibiting one or more parties to a commercial contract from pursuing or entering into a more favorable agreement with a third party.

nonrecognition provision

Tax. A statutory rule that allows all or part of a realized gain or loss not to be recognized for tax purposes. e Generally, this type of provision only postpones the recognition of the gain or loss. See RECOGNITION (3).

porcupine provision

A clause in a corporation's charter or bylaws designed to prevent a takeover without the consent of the board of directors. Cf. SHARK REPELLENT; POISON PILL.

provision of a fine

Hist. A proclamation made after the conveying of land by fine, read aloud in court 16 times - four times in the term when the fine was made, and four times in the three succeeding terms.

provisional attachment

See ATTACHMENT (1).

provisional court

See COURT.

provisional director

A director appointed by a court to serve on a close corporation's deadlocked board of directors.

provisional government

See GOVERNMENT.

provisional injunction

See preliminary injunction under INJUNCTION.

provisional injunction.

See preliminary injunction.

provisional partition

A temporary partition, often made before the remainder of the property can be divided.

provisional remedy

1. A restraining order or injunctive relief pending the disposition of an action; a temporary remedy, such as attachment, incidental to the primary action and available to a party while the action is pending. 2. An equitable proceeding before judgment to provide for the post judgment safety and preservation of property.

provisional seizure

See ATTACHMENT (1).