Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Mistake
n. 1. An error, misconception, or misunderstanding; an erroneous belief. 2. Contracts. The situation in which the parties to a contract did not mean the same thing - or when one or both, while meaning the same thing, formed untrue conclusions about the subject matter of the contract - as a result of which the contract may be rendered void. Cf. FRUSTRATION.
Stake
n. 1. Something (such as property) deposited by two or more parties with a third party pending the resolution of a dispute; the subject matter of an interpleader. 2. An interest or share in a business venture. 3. Something (esp. money) bet in a wager, game, or contest. 4. A boundary marker used in land surveys.
Stakeholder
1 A disinterested third party who holds nionev or property, the right to which is disputed between two or more other parties. See INTERPLEADER. 2. A person who has an interest or concern in a business or enterprise, though not necessarily as an owner. 3. One who holds the money or valuables bet by others in a wager.
Sweepstakes
1. A race (esp. a horse race) in which the winner's prize is the sum of the stakes contributed by the various competitors. 2. A contest, often for promotional purposes, that awards prizes based on the random selection of entries. 0 State and federal laws prohibit conducting a sweepstakes as a scheme to obtain money or property through the mail by false representations. 39 USCA § 3005.
bilateral mistake
See mutual mistake (1).
bilateral mistake.
See mutual mistake (1) under MISTAKE.
collateral mistake
See unessential mistake under MISTAKE.
common mistake
See mutual mistake (2).
essential mistake
Contracts. A mistake serious enough that no real consent could have existed, so that there was no real agreement.
grubstake contract
A contract between two parties in which one party provides the grubstake - money and supplies - and the other party prospects for and locates mines on public land. a Each party acquires an interest in the mine as agreed to in the contract. Grubstake contracts are used chiefly in the western United States. In some states, such as Alaska, a request for grubstake money is considered the offer of a security and must be registered. - Also termed grubstaking contract.
inessential mistake
See unessential mistake under MISTAKE.
larceny of property lost, mislaid, or delivered by mistake
Larceny in which one obtains control of property the person knows to be lost, mislaid, or delivered by mistake (esp. in the amount of property or identity of recipient) and' fails to take reasonable measures to restore the property to the rightful owner. Model Penal Code § 223.5.
mistake of fact.
A mistake about a fact that is material to a transaction. - Also termed error in fact; error of fact.
mistake of law
A mistake about the legal effect of a known fact or situation. - Also termed error in law; error of law.
mutual mistake
1. A mistake in which each party misunderstands the other's intent. - Also termed bilateral mistake. 2. A mistake that is shared and relied on by both parties to a contract. ( A court will often revise or nullify a contract based on a mutual mistake about a material term. - Also termed (in sense 2) common mistake. "The term 'common mistake' is more usually, but less grammatically, referred to as 'mutual mistake'. Cheshire and Fifoot on Contract have made a heroic effort to introduce and establish the more correct term, and it does seem to be gaining ground. However, the beginner is warned that the term 'mutual mistake' is nearly always used by the Courts to mean what we here call 'common mistake'." P.S. Atiyah, An Introduction to the Law of Contract 190 n.7 (3d ed. 1981).
nonessential mistake
See unessential mistake under MISTAKE.
nonessential mistake.
See unessential mistake.
unessential mistake
See MISTAKE.
unessential mistake.
Contracts. A mistake that does not relate to the nature of the contents of an agreement, but only to some external circumstance, so that the mistake has no effect on the validity of the agreement. - Also termed inessential mistake; nonessential mistake; collateral mistake.
unilateral mistake
See MISTAKE.
unilateral mistake.
A mistake by only one party to a contract. ( A unilateral mistake is usu. not grounds to rescind the contract.