Legal Dictionary of Pakistan

Bank statement

see statement of account (i).

Bank-statement rule

commercial law. Principle that if a bank customer fails to examine a bank statement within a reasonable time (usu. No more than a year for a forged drawer's signature or alteration, and no more than three years for a forged indorsement), the customer is precluded from complaining about a forgery or material alteration. Ucc § 4-406.

FASB statement

An official pronouncement from the Financial Accounting Standards Board establishing a given financial-accounting practice as acceptable.

Garrity statement

A public employee's oral or written report (as of an incident) obtained under a threat of termination of employment. ( A public employee usu. makes a Garrity statement in the course of an internal investigation (as by a police department). Because a Garrity statement is coerced, the statement and any evidence obtained as a result of it cannot be used in a later criminal prosecution against the public employee. The statement and evidence may be used only to evaluate the employee's performance. Garrity v. New Jersey, 385 U.S. 493, 87 S.Ct. 616 (1967).

Restatement

One of several influential treatises, published by the American Law Institute, describing the law in a given area and guiding its development. 0 Although the Restatements are frequently cited in cases and commentary, they are not binding on the courts. Restatements have been published in the following areas of law: Agency, Conflict of Laws, Contracts, Foreign Relations Law of the United States, Judgments; Law Governing Lawyers, Property, Restitution, Security, Suretyship and Guaranty, Torts, Trusts, and Unfair Competition. - Also termed Restatement of the Law.

Statement

1 Evidence. A verbal assertion or nonverbal conduct intended as an assertion. 2. A formal and exact presentation of facts. 3. Criminal procedure. An account of a person's (usu. a suspect's) knowledge of a crime, taken by the police pursuant to their investigation of the offense. Cf. CONFESSION.

Statement and Account Clause

The clause of the U.S. Constitution requiring the regular publication of the receipts and expenditures of the federal government. U.S. Const. art. 1, § 9, cl. 7.

account statement

See STATEMENT OF ACCOUNT

accusation,n. 1. A formal charge of criminal wrongdoing. 0 The accusation is usu. presenter) to a court or magistrate having jurisdiction tf) inquire into the alleged crime. 2. An informs i statement

agreed statement of facts

A narrative statement of facts that is stipulated to be correct by the parties and is submitted to a tribunal for a ruling. ( When the narrative statement is filed on appeal instead of a report of the trial proceedings, it is called an agreed statement on appeal.

agreed statement of facts.

see statement of facts

agreed statement on appeal

see agrecti srorement of facts under statement of fact

certified financial statement

See FINANCIAL STATEMENT.

closing statement

1. CLOSING ARGUMENT. 2. A written breakdown of the costs involved in a particular real-estate transaction, usu. prepared by a lender or an escrow agent. - Also termed settlement sheet; settlement statement.

consolidated financial statement

The financial report of a company and all its subsidiaries combined as if they were a single entity.

consonant statement

A prior declaration of a witness, testified to by a person to whom the declaration was made and allowed into evidence only after the witness's testimony has been impeached. ( This type of evidence would, but for the impeachment of the witness, be inadmissible hearsay.

defamatory statement

A statement that tends to injure the reputation of a person referred to in it. 0 The statement is likely to lower that person in the estimation of reasonable people and in particular to cause that person to be regarded with feelings of hatred, contempt, ridicule, fear, or dislike.

environmental-impact statement

Environmental law. A document that the National Environmental Policy Act (42 USCA § 4332(2)(c)) requires a federal agency to produce for a major project or legislative proposal so that better decisions can be made about the positive and negative environmental effects of an undertaking. - Abbr. EIS. - Also termed environmental-impact report (EIR).

extrajudicial statement

Any utterance made outside of court. ( It is usu. treated as hearsay under the rules of evidence.

false statement

See FALSE STATEMENT.

fee statement

A lawyer's bill for services either already rendered or to be rendered, usu. including itemized expenses.

financial statement

See FINANCIAL STATEMENT.

financing statement

A document filed in the public records to notify third parties, usu. prospective buyers and lenders, of a secured party's security interest in goods. Cf. FINANCIAL STATEMENT.

general-average statement

Maritime law. A statement containing an exact calculation of the general average and each party's contributory share. See AVERAGE . general benefit. See BENEFIT

income statement

A statement of all the revenues, expenses, gains, and losses that a business incurred during a given period. - Also termed statement of income; profit-and-loss statement; earnings report. Cf. BALANCE SHEET.

incriminating statement

See STATEMENT.

interim statement

Accounting. A periodic financial report issued during the fiscal year(usu. quarterly) that indicates the company's current performance. ( The SEC requires the company to file such a statement if it is distributed to the company's shareholders. - Also termed interim report.

jurisdictional statement

See JURISDICTION CLAUSE.

motion for a more definite statement

See MOTION FOR MORE DEFINITE STATEMENT.

motion for more definite statement

A party's request that the court require an opponent to amend a vague or ambiguous pleading to which the party cannot reasonably be required to respond. Fed. R. Civ. P. 12(e). - Also termed motion for a more definite statement

offering statement.

See OFFERING CIRCULAR.

onsolidated financial statement

See FINANCIAL STATEMENT.

opening statement

At the outset of a trial, an advocate's statement giving the fact-finder a preview of the case and of the evidence to be presented, but not containing argument. -Also termed (incorrectly) opening argument.

preliminary statement

The introductory part of a brief or memorandum in support of a motion, in which the advocate summarizes the essence of what follows. ( In at least two jurisdictions, New York and New Jersey, the preliminary statement is a standard part of court papers. In many other jurisdictions, advocates do not routinely include it. But preliminary statements are typically allowed, even welcomed, though not required. preliminary warrant See WARRANT (1).

prior consistent statement

A witness's earlier statement that is consistent with the witness's trial testimony. ( A prior consistent statement is not hearsay if it is offered to rebut a charge that the testimony was improperly influenced or fabricated. Fed. R. Evid. 801(d)(1)(B).

prior inconsistent statement

See PRIOR INCONSISTENT STATEMENT.

profit-and-loss statement

See INCOME STATEMENT.

proxy statement

An informational document that accompanies a proxy solicitation and explains a proposed action (such as a merger) by the corporation.

reconciliation statement

An accounting or financial statement in which discrepancies are adjusted.

registration statement.

A document containing detailed information required by the SEC for the public sale of corporate securities. ( The statement includes the prospectus to be supplied to prospective buyers. See PROSPECTUS.

settlement statement

See CLOSING STATEMENT (2).

statement of account

1 A report issued periodically (usu. monthly) by a bank to a customer, providing certain information on the customer's account, including the checks drawn and cleared, deposits made, charges debited, and the account balance. - Also termed bank statement. 2. A report issued periodically (usu. monthly) by a creditor to a customer, providing certain information on the customer's account, including the amounts billed, credits given, and the balance due. - Also termed account statement.

statement of affairs

1 STATEMENT OF FINANCIAL AFFAIRS. 2. A balance sheet showing immediate liquidation values (rather than historical costs), usu. prepared when insolvency is imminent.

statement of claim

1 COMPLAINT (1). 2. English law. A plaintiffs initial pleading in a civil case; DECLARATION (7).

statement of condition

See BALANCE SHEET,

statement of confession

See CONFESSION OF JUDGMENT.

statement of defense

The assertions by a defendant; esp., in England, the defendant's answer to the plaintiffs statement of claim.

statement of facts

A party's written presentation of the facts leading up to or surrounding a legal dispute, usu. recited toward the beginning of a brief.

statement of financial affairs

Bankruptcy. A document that an individual or corporate debtor must file to answer questions about its past and present financial status, including any previous bankruptcy, the location of any current accounts, and its recent or current debt. -Also termed statement of affairs.

statement of financial condition

See BALANCE SHEET.