Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Surplus
1. The remainder of a thing; the residue or excess. 2. The excess of receipts over disbursements. 3. Funds that remain after a partnership has been dissolved and all its debts paid. 4. A corporation's net worth, beyond the par value of capital stock. - Also termed ouerplus.
Surplusage
1. Redundant words in a statute or other drafted document; language that does not add meaning <the court must give effect to every word, reading nothing as mere surplusage>. 2. Extraneous matter in a pleading <allegations that are irrelevant to the case will be treated as surplusage>. "Surplusage is to be avoided. The perfection of pleading is to combine the requisite certainty and precision with the greatest possible brevity of statement. 'Surplusage' . . . includes matter of any description which is unnecessary to the maintenance of the action or defense. The rule requires the omission of such matter in two instances: (1) Where the matter is wholly foreign and irrelevant to the merits of the case. (2) When, though not wholly foreign, such matter need not be stated." Benjamin J. Shipman, Handbook of Common-Law Pleading ยง 316, at 514 (Henry Winthrop Ballantine ed., 3d ed. 1923).
Surplusagium non nocet
Extraneous matter does no harm.( Superfluous allegations, not proper to the case, should have no effect.
accumulated surplus
Earnings in excess of a corporation's capital and liabilities.
acquired surplus
The surplus gained by the purchase of another business.
acquired surplus.
See SURPLUS.
actuarial surplus
An estimate of the amount by which a pension plan's assets exceed expected current and future liabilities, inclic, ing the amount expects to be needed to fund future benefit payments.
appreciation surplus
See revaluation surplus.
appropriated surplus
1. The portion of surplus earmarked for a specific purpose. -Also termed reserved surplus. 2. See appropriated retained earnings under EARNINGS.
capital surplus
1. All surplus (such as paid-in surplus or donated surplus) not arising from the accumulation of profits; a company's surplus other than earned surplus, usu. created by financial reorganization or gifts. 2. See paid-in surplus.
donated surplus
1. Assets (such as stock) contributed to a corporation. 2. The increase in the shareholders' equity account resulting from such a contribution.
earned surplus
See retained earnings under EARNINGS.
initial surplus
The surplus that appears on the financial statement at the beginning of an accounting period, but that does not reflect the operations for the statement's period.
paid-in surplus
The surplus gained by the sale, exchange, or issuance of capital stock at a price above par value. - Also termed capital surplus; premium on capital stock.
reserved surplus
See appropriated surplus (1).
restricted surplus
A surplus with a limited or restricted use; esp., the portion of retained earnings that cannot be distributed as dividends. ( The restriction is usu. due to preferred dividends in arrears, a covenant in a loan agreement, or some decision of the board of directors. See retained earnings under EARNINGS.
revaluation surplus
See SURPLUS
surplus earnings
The excess of corporate assets over liabilities within a given period, usu. a year.
surplus profit
See PROFIT.
surplus revenue
See appropriated retained earnings under EARNINGS.
surplus water
1. Water running off irrigated ground; water not consumed by the irrigation process. 2. See excess water..
surplus-lines insurance
Insurance with an insurer that is not licensed to transact business within the state where the risk is located. - Also termed excess-lines insurance.
trade surplus
The excess of merchandise exports over merchandise imports during a specific period. Cf. trade deficit under DEFICIT.
unearned surplus
Corporations. The total of amounts assigned to shares in excess of stated capital, surplus arising from a revaluation of assets above cost, and contributions other than for shares, whether from shareholders or others.