Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
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.
Reference
n. 1. The act of sending or directing to another for information, service, consideration, or decision; specif., the act of sending a case to a master or referee for information or decision.
adoption by reference.
see incorporation by reference.
cumulative preference share
See cumulative preferred stock under STOCK. cumulative preferred stock See STOCK.
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.
general reference
A court's reference of a case to a referee, usu. with all parties' consent, to decide all issues of fact and law. a The referee's decision stands as the judgment of the court.
incorporation by reference
A method of making a secondary document part of a primary document by including in the primary document a statement that the secondary document should be treated as if it were contained within the primary one. - Often shortened to incorporation. - Also termed adoption by reference. incorporator. A person who takes part in the formation of a corporation, usu. by executing the articles of incorporation. - Also termed corporator. "An 'incorporator' must be sharply distinguished from a 'subscriber.' The latter agrees to buy shares in the corporation; in other words, a subscriber is an investor and participant in the venture. An 'incorporator' on the other hand serves the largely ceremonial or ministerial functions described in this section. At one time many states required that an incorporator also be a subscriber of shares; however, such requirement appears to have disappeared in all states." Robert W. Hamilton, The Law of Corporations in a Nutshell 34 (3d ed. 1991).
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.
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.
preference shares
See preferred stock under STOCK.
reference statute
See STATUTE.
special reference
A court's reference of a case to a referee for decisions on specie,: questions of fact. ( The special referee mak -. findings and reports them to the trial jud who treats them as advisory only and not binding decisions.2. An order sending a case to a master or referee for information or decision. 3. Mention or citation of one document or source in another document or source. - refer, vb
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