Dictionary Search: "Qualified" - Pakistan Law Portal

Qualified

adj. 1. Possessing the necessary qualifications; capable or competent <a qualified medical examiner>. 2. Limited; restricted <qualified immunity>. - qualify, ub.

death-qualified jury

Criminal law. A jury that is fit to decide a case involving the death penalty because the jurors have no absolute ideological bias against capital punishment. Cf. life-qualified jury.

life-qualified jury

Criminal law. In a case involving a capital crime, a jury selected from a venire from which the judge has excluded anyone unable or unwilling to consider a sentence of life imprisonment, instead of the death penalty, if the defendant is found guilty. Cf. death-qualified jury.

nonqualified deferred-compensation plan

See EMPLOYEE BENEFIT PLAN. nonqualified pension plan See PENSION PLAN.

nonqualified pension plan

A deferredcompensation plan in which an executive increases retirement benefits by annual additional contributions to the company's basic plan.

nonqualified stock option

See STOCK OPTION.

qualified acceptance

A conditional or partial acceptance that varies the original terms of an offer and operates as a counteroffer; esp., in negotiable instruments, an acceptor's variation of the terms of the instrument. 2. A buyer's assent that the goods are to be taken in performance of a contract for sale. 0 Under UCC § 2-606, a buyer's acceptance consists in (1) signifying to the seller that the goods are conforming ones or that the buyer will take them despite nonconformities, (2) not making an effective rejection, or (3) taking any action inconsistent with the seller's ownership. If the contract is for the sale of goods that are not identified when the contract is entered into, there is no acceptance until the buyer has had a reasonable time to examine the goods. But if the buyer deals with them as owner, as by reselling them, a court may find constructive acceptance. acceptance means communicated acceptance .... [It] must be something more than a mere mental assent." William R. Anson, Principles of the Law of Contract 34 (Arthur L. Corbin ed., 3d Am. ed. 1919). [But Corbin adds:] "This use of the word 'communicated' is open to some objection. To very many persons the word means that knowledge has been received. Frequently a contract is made even though the offeror has no such knowledge. In such case the acceptance is not 'communicated' and yet it consummates the contract." Id. n.2. Acceptance of a conveyance or of a document containing a promise is a manifestation of assent to the terms thereof made, either before or after delivery, in accordance with any requirements imposed by the grantor or promisor. If the acceptance occurs before delivery and is not binding as an option contract, it is revocable until the moment of delivery." Restatement (Second) of Contracts § 106 (1981).3. The formal receipt of and agreement to pay a negotiable instrument. 4. A negotiable instrument, esp. a bill of exchange, that has been accepted for payment.

qualified disclaimer

A person's refusal to accept an interest in property so that he or she can avoid having to pay estate or gift taxes. ( To be effective under federal tax law, the refusal must be in writing and must be executed no later than nine months from the time when the interest was created. IRC (26 USCA) § 2518.

qualified disclaimer.

See DISCLAIMER.

qualified domestic-relations order.

A statecourt order or judgment that relates to alimony, child support, or some other state domesticrelation matter and that (1) recognizes or provides for an alternate payee's right to receive all or part of any benefits due a participant under a pension, profit-sharing, or other retirement benefit plan, (2) otherwise satisfies the provisions of section 414 of the Internal Revenue Code, and (3) is exempt from the ERISA rule prohibiting the assignment of plan benefits. ( Among other things, the QDRO must set out certain facts, including the name and lastknown mailing address of the plan participant and alternate payee, the amount or percentage of benefits going to the alternate payee, and the number of payments to which the plan applies. The benefits provided under a QDRO are treated as income to the actual recipient. IRC (26 USCA) § 414(p)(1)(A); 29 USCA § 1056(d)(3)(D)(i). - Abbr. QDRO.

qualified elector.

A legal voter; a person who meets the voting requirements for age, residency, and registration and who has the present right to vote in an election. See QUALIFIED VOTER.

qualified endorsement

An indorsement that passes title to the instrument but limits the indorser's liability to later holders if the instrument is later dishonored. 0 Typically, a qualified indorsement is made by writing "without recourse" or "sans recourse" over the signature. - Also termed indorsement without recourse. UCC § 3-115(b). See WITHOUT RECOURSE.

qualified estate

Any estate that is not absolute and unconditional; a limited or conditional estate. real estate. See real property under PROPERTY.

qualified estate.

See ESTATE.

qualified fee.

1. See fee simple defeasible under FEE SIMPLE. 2. See fee simple determinable under FEE SIMPLE.

qualified general denial

A general denial of all the allegations except the allegations that the pleader expressly admits. "The qualified general denial most frequently is used when a limited number of allegations in the complaint are to be admitted. This form of denial also is employed when defendant cannot expressly deny an averment in his opponent's pleading and therefore cannot submit a general denial, although defendant wants to put plaintiff to his proof on that averment by interposing a denial of knowledge or information sufficient to form a belief or a denial on information and belief." 5 Charles Alan Wright & Arthur Miller, Federal Practice and Procedure § 1266, at 405 (1990).

qualified general denial.

See DENIAL.

qualified immunity

Immunity from civil liability for a public official who is performing a discretionary function, as long as the conduct does not violate clearly established constitutional or statutory rights. - Also termed prima facie privilege. Cf. absolute immunity.

qualified immunity.

See IMMUNITY (i),

qualified indorsement.

See INDORSEMENT.

qualified institutional buyer.

See BUYER.

qualified institutional buyer. Securities.

An institution with more than $100 million in invested assets.

qualified martial law

The carrying on of government functions partly by military agencies, as a result of which the authority of some civil agencies is superseded. 3. The law by which the army in wartime governs foreign territory that it occupies. 4. Loosely, MILITARY LAW.

qualified martial law.

See MARTIAL LAW

qualified nuisance

A condition that, though lawful in itself, is so negligently permitted to exist that it creates an unreasonable risk of harm and, in due course, actually results in injury to another. ( It involves neither an intentional act nor a hazardous activity. - Also termed nuisance dependent on negligence. Cf. absolute nuisance.

qualified nuisance.

See NUISANCE,

qualified opinion.

An audit-report statement containing exceptions or qualifications to certain items in the accompanying financial statement.

qualified ownership

Ownership that is shared, restricted to a particular use, or limited in the extent of its enjoyment.

qualified ownership.

See OWNERSHIP

qualified pension plan

A pension plan that complies with federal law (ERISA) and thus allows the employee to receive tax benefits for contributions and tax-deferred investment growth.

qualified pension plan.

See PENSION PLAN.

qualified privilege

A privilege that immunizes an actor from suit only when the privilege is properly exercised in the performance of a legal or moral duty. - Also termed conditional privilege. Cf. absolute privilege. "Qualified privilege is an intermediate case between total absence of privilege and the presence of absolute privilege." R.F.V. Heuston, Salmond on the Law of Torts 165 (17th ed. 1977).

qualified privilege.

See PRIVILEGE (1).

qualified profit-sharing plan

A plan in which an employer's contributions are not taxed to the employee until distribution. The employer is allowed to deduct the contributions. IRC (26 USCA) § 401.

qualified profit-sharing plan.

See PROFITSHARING PLAN.

qualified property

A temporary or special interest in a thing (such as a right to possess it), subject to being totally extinguished by the occurrence of a specified contingency over which the qualified owner has no control.

qualified property.

See PROPERTY.

qualified residence interest.

See INTEREST (3)

qualified stock option

A now-rare stockoption plan that allows a person to buy stock for a period (often five years) at the market price, the stock being subject to capital-gains tax treatment.

qualified stock option.

See STOCK OPTION

qualified veto

A veto that is conclusive unless overridden by an extraordinary majority of the legislature. ( This is the type of veto that the President of the United States has. - Also termed limited veto; negative veto.

qualified veto.

See VETO,

qualified voter.

1. QUALIFIED ELECTOR. 2. A qualified elector who exercises the right to vote; a person who votes.

qualified witness

A witness who, by explaining the manner in which a company's business records are made and kept, is able to lay the foundation for the admission of business records under an exception to the hearsay rule. Fed. R. Evid. 803(6).

qualified witness.

See WITNESS.

qualified-terminable-interest property

Property that passes by a QTIP trust from a deceased spouse to the surviving spouse and that (if the executor so elects) qualifies for the marital deduction provided that the spouse is entitled to receive income in pay- ments made at least annually for life and that no one has the power to appoint the property to anyone other than the surviving spouse. ( This property is included in the surviving spouse's estate at death, where it is subject to the federal estate tax. See QTIP trust under TRUST.

qualified-terminable-interest property.