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Legal Dictionary of Pakistan

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

Intangible

n. Something that is not tangible; esp., an asset that is not corporeal, such as intellectual property.

Intangible asset

an asset that is not a physical object, such as a patent, a trademark, or goodwill.

Tangible

adj. 1. Having or possessing physical form. 2. Capable of being touched and seen; perceptible to the touch; capable of being possessed or realized. 3. Capable of being understood by the mind.

Tangible asset

an asset that has a physical existence and is capable of being assigned a value.

electronic chattel paper. Chattel paper evidenced by a record or records consisting of information stored in an electronic medium and retrievable in perceivable form. UCC § 9-102(a)(22).tangible chatt

See CHATTEL.

general intangible

See INTANGIBLE.

intangible asset

See ASSET,

intangible drilling costs

Oil & gas. Expenses incurred in drilling, testing, and completing an oil or gas well. ( These costs are deductible in the . year they are incurred. - Also termed intangible drilling and development costs. IRC (26 USCA) § 263. intangible movable See MOVABLE.

intangible movable

A physical thing that can be moved but that cannot be touched in the usual sense. ( Examples are light and electricity.

intangible property

Property that lacks a physical existence. a Examples include bank accounts, stock options, and business goodwill. Cf. tangible property.

intangible tax

A state tax imposed on the privilege of owning, transferring, devising, or otherwise dealing with intangible property.

payment intangible

See INTANGIBLE.

tangible asset

See ASSET

tangible chattel paper

See CHATTEL PAPER.

tangible cost

Oil & gas. A particular expense associated with drilling, such as the costs incurred for materials and land. ( Drilling and testing costs are considered intangible.

tangible evidence

See demonstrative evidence under EVIDENCE.

tangible personal property

Corporeal personal property of any kind; personal property that can be seen, weighed, measured, felt, or touched, or is in any way perceptible to the senses.

tangible property

Property that has physical form and characteristics. Cf. intangible property.