Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Admitted asset
an asset that by law may be included in evaluating the financial condition of an insurance company. Cf. Nonadmitted asset.
Nonadmitted asset
an asset that by law may not be included in evaluating the financial condition of an insurance company because it cannot be converted quickly into cash without a financial loss. Cf admitted asset.
admitted asset
See ASSET.
nonadmitted asset
See ASSET.