Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Purpose
An objective, goal, or end; specif., the business activity that a corporation is chartered to engage in. purpose approach. See MISCHIEF RULE.
Purposeful
adj. Done with a specific purpose in mind.
Uniform Division of Income for Tax Purposes Act
A uniform law, adopted by some states, that provides criteria to assist in assigning the total taxable income of a multistate corporation among the various states. - Abbr. UDITPA.
business-purpose doctrine
Tax. The principle that a transaction must serve a bona fide hu,iness purpose (i.e., not just for tax t t> dance) to qualify for beneficial tax treatment
charitable purpose
Tax. The purpose for which an organization must be formed so that it qualifies as a charitable organization under the Internal Revenue Code. - Also termed charitable use.
common business purpose
Related activity by two or more associated businesses. ( If one of the businesses comes within the jurisdiction of the Fair Labor Standards Act, then another business that shares a common business purpose will also.
conditional purpose
1. An intention to do something, conditions permitting. 2. Criminal law. A possible defense against a crime if the conditions make committing the crime impossible (e.g., "I will steal the money if it's there," and the money is not there). conditional right See RIGHT.
corporate purpose
The general scope of the business objective for which a corporation was created. ( A statement of corporate purpose is commonly required in the articles of incorporation.
county purpose
An objective pursued by a county; esp., one that a county levies taxes for.
dual-purpose doctrine
The principle that an employer is liable for an employee's injury that occurs during a business trip even though the trip also serves a personal purpose. Cf. DUAL. CAPACITY DOCTRINE.
dual-purpose fund
See dual fund under MUTU. AL FUND.
family-purpose rule
Torts. The principle that a vehicle's owner is liable for injuries or dam age caused by a family member's negligent driving. ( Many states have abolished this rule. - Also termed family purpose doctrine;family-automobile doctrine; family-car doctrine. Cf. GUEST STATUTE. "A number of jurisdictions have adopted the so-called 'family purpose' doctrine, under which the owner of a motor vehicle purchased or maintained for the pleasure of his family is liable for injuries inflicted by the negligent operation of the vehicle while it is being used by members of the family for their own pleasure, on the theory that the vehicle is being used for the purpose or business for which it was kept, and that the person operating it is therefore acting as the owner's agent or servant in using it." 8 Am. Jur. 2d Automobiles and Highway Traffic § 715, at 296 (1997).
fitness for a particular purpose
See implied warranty of fitness for a particular purpose under WARRANTY (2).
implied warranty of fitness for a particular purpose
A warranty - implied by law if the seller has reason to know of the buyer's special purposes for the property - that the property is suitable for those purposes. -Sometimes shortened to warranty of fitness. "Those unfamiliar with the differences between the warranty of merchantability (fitness for the ordinary purposes for which such goods are used) and the warranty of fitness for a particular purpose often confuse the two; one can find many opinions in which the judges used the terms 'merchantability' and 'fitness for a particular purpose' interchangeably. Such confusion under the Code is inexcusable." 1 James J. White & Robert S. Summers, Uniform Commercial Code § 9-10, at 527 (4th ed. 1995).
limited purpose public figure
A person who, having become involved in a particular public issue, has achieved fame or notoriety in relation to that particular issue.
main-purpose rule
Contracts. The doctrine that if a promise to guarantee another's debt is made primarily for the promisor's own benefit, then the statute of frauds does not apply and the promise does not have to be in writing. -Also termed main purpose doctrine; leadingobject rule.
public purpose
An action by or at the direction of a government for the benefit of the community as a whole.
purpose clause
An introductory clause to a statute explaining its background and stating the reasons for its enactment.
single-purpose project
A facility that is designed, built, and used for one reason only, such as to generate electricity. ( This term most often refers to large, complex, expensive projects such as power plants, chemical-processing plants, mines, and toll roads. Projects of this type are often funded through project financing, in which a special-purpose entity is established to perform no function other than to develop, own, and operate the facility, the idea being to limit the number of the entity's creditors and thus provide protection for the project's lenders. See project financing under FINANCING; SPECIAL-PURPOSE ENTITY; BANKRUPTCY-REMOTE ENTITY.
special-purpose entity
A business established to perform no function other than to develop, own, and operate a large, complex project (usu. called a single purpose project), esp. so as to limit the number of creditors claiming against the project. ( A special-purpose entity provides additional protection for project lenders, which are usu. paid only out of the money generated by the entity's business, because there will be fewer competing claims for that money and because the entity will be less likely to be forced into bankruptcy. A special-purpose entity will sometimes issue securities instead of just receiving a direct loan. - Abbr. SPE. -Also termed special purpose vehicle (SPV). See BANKRUPTCY-REMOTE ENTITY; SINGLE-PURPOSE PROJECT; project financing under FINANCING.
special-purpose vehicle
See SPECIAL-PURPOSE ENTITY.
town purpose
A municipal project or expenditure that concerns the welfare and advantage of the town as a whole.