Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Voting
The casting of votes for the purpose of deciding an issue.
Voting Rights Act
The federal law that guarantees a citizen's right to vote, without discrimination based on race, color, or previous condition of servitude. ( The U.S. Attorney General is authorized to bring suit for preventive relief to protect this right. 42 USCA ยงยง 1971-1974.
absentee voting
Participation in an election by a qualified voter who is unable to appear at the polls on election day; the practice of allowing voters to participate in this way.
block voting.
A shareholders' agreement to cast their votes in a single block. See voting trust under TRUST (4).
class voting
A method of shareholder voting by which different classes of shares vote separately on fundamental corporate changes that adversely affect the rights and privileges of that class. - Also termed voting by class; voting by voting group.
class voting.
See VOTING
cumulative voting
A system for electing corporate directors whereby a shareholder may multiply his or her number of shares by the number of open directorships and cast the total for a single candidate or a select few candidates. ( Cumulative voting enhances the ability of minority shareholders to elect at least one director.
majority voting
A system for electing corporate directors whereby each shareholder is allowed one vote for each director, who can win with a simple majority.
noncumulative voting
A corporate voting system in which a shareholder is limited in board elections to voting no more than the number of shares he or she owns for a single candidate. ( The result is that a majority shareholder will elect the entire board of directors. - Also termed straight voting
nonvoting stock
See STOCK.
shareholder voting agreement
See POOLING AGREEMENT.
straight voting
See noncumulative voting under VOTING.
voting agreement
See POOLING AGREEMENT.
voting by class
See class voting under VOTING
voting by voting group
See class voting.
voting group
1. A classification of shareholders by the type of stock held for voting on corporate matters. 2. Collectively, the shareholders falling within such as classification.
voting security
See voting stock under STOCK.
voting stock
Stock that entitles the holder to vote in the corporation's election of officers and on other matters put to a vote. - Also termed voting security.
voting trust
A trust in which corporate stockholders transfer their shares to a trustee for the purpose of creating a voting bloc. ( The stockholders still receive dividends under such an arrangement. Cf. VOTING GROUP "At common law there was great suspicion of voting trusts. One commentator described a voting trust as little more than a vehicle for corporate kidnapping.' This attitude has largely disappeared. State statutes now uniformly recognize the validity of voting trusts and they have received a more hospitable''iudicial reception." Robert W. Hamilton, The Law of Corporations in a Nutshell 199 (3d ed. 1991).
voting-stock rights
A stockholder's right to vote stock in the affairs of the company. 0 Most commonly, holders of common stock have one vote for each share. Holders of preferred stock usu. have the right to vote when preferred dividends are in default for a specified period.
voting-trust certificate
A certificate issued by a voting trustee to the beneficial holders of shares held by the voting trust. ( A votingtrust certificate may be as readily transferable as the underlying shares; it carries with it all the incidents of ownership except the power, to vote. See voting trust under TRUST.